SOOP ESG2023

R&D for Sustainability

SOOP undertakes various R&D activities to enhance its live and VOD services, focusing on both broadcasting and viewing experiences. We have achieved 62 R&D results. We actively expand our services to offer users a diverse range of video experiences, such as introducing a feature for creating short clips during live broadcasts in 2019, developing dedicated AR and VR players in 2022, and since 2023, working to improve technologies related to server stability and streaming quality for a better user experience.

SOOP has steadily improved the quality of its services, including increasing streaming resolution from 540p in 2015 to 1080p currently, and we are even piloting 1440p for some content in 2024. At the same time, we are applying personalized services to make it more convenient for users to use the platform, and continuously revamping the UI-UX of service features such as chat window and player.

New Business Strategy

With the rapid development of high-speed wireless communication infrastructure, the affordable data plans, the commercialization of 5G, and the acceleration of digital transformation in recent years, the demand for digital content is continuously increasing, and the potential of new digital industries such as AR/VR, NFT, and metaverse is gaining more attention. In this environment, SOOP is securing growth engines by focusing on various new business areas, leveraging the technology and know-how accumulated over the years. In particular, we are focusing on metaverse technology to break down the boundary between virtual and the real world and provide users with new experiences through the integration of NFTs and the virtual economy.

You and I, and the New World We Are Building ‘Freeblox’

Freeblox is a virtual platform that extends the strengths of SOOP’s live broadcast infrastructure and services, by which all users and streamers can play the main characters in their content, into a metaverse environment. Users can freely communicate through their ‘avatars’ representing their personalities and engage in a variety of activities, including live streaming, chatting, messaging, and gaming. In addition, the ‘Marketplace’ allows users to freely create and sell avatars, clothing, furniture, and more, allowing anyone to express their creativity and earn money.

Throughout 2023, Freeblox and its virtual streamers have played a key role in SOOP’s various business areas. They have used Freeblox to conduct various types of broadcasts, including collaborative, solo, and viewer participatory broadcasts, and have expanded the diversity of virtual content to include games, singing contests/live, talk shows, radio, exploring Freeblox, and watching films.

The influence of virtual streamers is also expanding in the area of live commerce. In the live commerce of ‘Deu-Ril Dumplings’ and ‘Deu-Ril x Yukdaejang Yukgaejang,’ which were launched as SOOP’s private brand(PB) products, many virtual streamers participated and attracted the attention of viewers with their unique Mukbang and Cookbang. In particular, the live commerce of ‘Im dak(which means ‘I’m chicken’ in English)’ hosted by virtual streamer, achieved remarkable results with total sales of KRW 1.9 billion and peak concurrent viewers of 150 thousand.

Freeblox serves as a new playground for virtual streamers and users, offering a diverse virtual content environment and opportunities for profitability. After launching its open beta service in 2022, Freeblox underwent a formal renewal in 2023, and will continue expanding its business in 2024 by enhancing its core features.

Towards a Global Impacty

SOOP, which has been leading the domestic streaming platform market with a steady average annual revenue growth rate of 22% since the establishment of its unified brand in 2013, has designated 2024 as the year of global expansion and is pursuing a long-term growth strategy. In 2024, we will launch the beta version of our global live streaming platform, ‘SOOP’ in preparation for a full-scale global expansion starting with the Southeast Asian market, particularly Thailand, as our Bridgehead.

Like the ’forest’ ecosystem that encompasses a number of components, ’SOOP,’ which means ‘forest’ in Korean, stands for a free space where various people can communicate through content with each other anytime, anywhere. Through continuous technological innovation, SOOP aims to create an inclusive streaming community culture where streamers, users, and partners can freely participate and grow, and to realize a virtuous cycle structure in streaming business where all participants can win-win.

The global beta version of SOOP will be available in English, Thai, and Chinese(simplified and traditional), and we will provide services optimized for gaming and eSports live streaming, including mobile direct game broadcasting and eSports tournaments, during the beta period. By actively installing core platform technologies such as stable and high-resolution live service and AI-based real-time interpretation, we aim to advance broadcasting technology for the global market and create an environment that allows global users to participate freely. With the goal of expanding our influence in the Southeast Asian eSports market, we plan to offer a variety of multilingual content for global users and support the international growth of domestic Korean streamers through co-streaming.

SOOP Product Vision

Differentiated One-Person Broadcast Media by Which Users Can Enjoy and Participate in High-Quality Live Streaming Anywhere in the World

• Innovate Streaming Technology

  ENGINEERING Advancing High-Quality Live Streaming Technology

  We develop and apply specialized technologies, such as independent mobile broadcast transmission, large-scale traffic distribution, and support for high-definition resolutions, to ensure that users can enjoy high-quality live streaming.

• Enhance Competitiveness

  COMPETITIVENESS Providing SOOP’s Differentiated Services

  We offer differentiated services to meet the needs and demands of streamers, viewers, and enterprise customers, as well as specialized services for the evolution of broadcasting from ‘watching’ to ‘participating.’

• Expand Future Value

  VALUE EXPANSION Building an Open API Ecosystem that Anyone Can Use

  We will build a SOOP-centric ecosystem with open APIs for broadcast streaming capabilities and data, and expand our value as a platform for mutual benefit with third parties.