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LG's New webOS TV Strategy Signals Consolidation in TV Streaming Platforms, Says Strategy Analytics

02/24/2021

LG’s announcement that it is making its webOS TV platform available to other vendors is a clear sign that the consolidation phase in TV streaming platforms is well under way, according to Strategy Analytics. 1.3 billion connected TV devices are currently in use worldwide, according to Strategy Analytics’ recent research, and the leading six platforms account for less than half. WebOS TV itself has a 7% share, behind Samsung’s Tizen, but ahead of Sony PlayStation, Amazon’s Fire TV OS, Roku TV OS and Google’s Android TV. The rest of the market is highly fragmented, and LG’s move is likely to soak up some of the smaller players rather than having an impact on its major rivals, in the view of Strategy Analytics’ experts.

Today LG announced that more than twenty TV manufacturers have committed to webOS TV and others are expected to join in the future. Strategy Analytics notes that the partners mentioned so far control only a small share of the smart TV market, but that cumulatively they may help grow the webOS TV user base towards a 10% share over the coming years.

“LG’s webOS TV platform is number two in the world but there was a fear that the company was not strong enough to compete against major rivals,” says David Watkins, Director, TV Streaming Platforms. “This announcement reassures partners that support for webOS TV is likely to be sustained over the longer term and should encourage developers to add webOS to their connected TV roadmaps.”

“LG’s move confirms its commitment to supporting the fast growing connected TV market as a platform provider and not just a TV manufacturer,” notes David Mercer, VP, Media and Intelligent Home. “This strategy will entail a significant shift in culture and mindset for LG as it works with apps and content developers and advertisers to ensure that tomorrow’s online TV and video viewers derive maximum benefit from the next generation of smart TV services and technologies.”

About Strategy Analytics

Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in: smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.

Source: Strategy Analytics, Inc.
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Report contacts:
David Watkins, +33 153 409 952, dwatkins@strategyanalytics.com
David Mercer, +44 1908 423610, dmercer@strategyanalytics.com

Source: Strategy Analytics

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