South Korean e-commerce Coupang’s deal to stream the Tokyo Olympics 2020 has failed in the final stages of the negotiations, the company was in negotiations with three local broadcasters KBS, MBC and SBS. All three broadcasters have confirmed that the deal has not been completed.
Coupang made an offer worth $44.1 million and were said to have outbid ‘Naver’ and ‘Kakao’, favourites for the deal. After they outbid ‘Naver’ and ‘Kakao’ for the license deal, the two companies are back in the market for an opportunity to land the streaming rights deal of Tokyo Olympics 2020 in South Korea.
Coupang entered the streaming market in late 2020 by offering their service for about $2.6 per month, gained about 4.7 million subscribers quickly rose to fame.
They also have rights for streaming all Tottenham Hotspurs games because of the nations’ football hero, Heung-min Son and the Korean women’s national football team, along with this Coupang landed the rights to stream the Tokyo Olympics 2020.
The increasing number of staff complaints and a negative public opinion saw the firm lose its rights to stream the Tokyo Olympic 2020, the consistent growing allegations of a negative working environment even reporting nine employee deaths whose reason has reportedly been said to be overwork saw the Korean company lose its streaming rights. With social media campaigns running telling people to boycott the OTT platform.