LG Electronics recruits TVOD specialist to advance webOS platform

LG Electronics has launched a search for a transactional video-on-demand (TVOD) specialist to advance its webOS content platform business. The company aims to expand its footprint as a media and entertainment platform company by continuing to invest in content and broaden its partnerships.

LG Electronics began the recruitment process for a content TVOD business specialist late last month, according to industry sources.

The hire is expected to play a key role in the company's content investment efforts — negotiating and closing deals with global studios, distributors and platform partners, and designing per-title pricing policies. The position will also oversee partnership management with US-based content companies.

LG Electronics is seeking candidates with experience working at or collaborating with American film studios. Experience handling content promotion at an over-the-top (OTT) platform is listed as a preferred qualification.

The recruitment drive is closely tied to webOS's growth trajectory. At its second-quarter earnings call on Thursday, LG Electronics cited webOS as a primary growth driver behind the improved profitability of its Media Entertainment Solution (MS) division, which oversees the TV business.

The MS division posted sales of 5.11 trillion won ($3.58 billion) and operating profit of 219.4 billion won in the second quarter, compared with sales of 4.39 trillion won and an operating loss of 191.7 billion won in the same period a year earlier — a 16 percent revenue increase and a swing to profit. The division attributed the strong year-on-year sales growth to qualitative improvement driven by expanded webOS platform sales.

LG Electronics plans to maintain that momentum in the third quarter, running the business so that webOS platform growth continues to underpin profitability. The MS division, which posted an operating loss of more than 750 billion won last year, has turned a profit in each quarter this year by pursuing premium TV sales alongside the platform business as a new revenue stream.

webOS also featured prominently at the second-quarter earnings conference call. When asked about the MS division's profit outlook for the second half, Park Sang-ho, executive vice president and head of management planning at the division, said the company is pursuing a two-pronged strategy of near-term profitability improvement and securing long-term growth drivers. "We aim to drive growth in the webOS platform business through the expansion of global partnerships and an AI data-based ecosystem," he said.

The software LG Electronics acquired more than a decade ago has since evolved into a core business. The company bought webOS from HP (Hewlett-Packard) in 2013 to strengthen its smart TV software capabilities, securing the source code, development personnel and a patent license agreement related to webOS.

LG Electronics is now pushing beyond smart TVs to expand webOS into a broader media and entertainment platform. Available in more than 190 countries, webOS has extended its content offerings beyond films and entertainment to include cloud gaming, home fitness and education.

LG Electronics says more than 260 million smart TVs running webOS have been shipped to date — a figure covering both its own smart TVs sold over the past decade or so and external sales to third-party manufacturers that license the platform. The company expects the TVOD business expansion to boost advertising and content revenue.