Even after a competitive IPTV market was formed in 2009, total subscription levels of IPTV are still far below those of cable TV operators in what may seem like a zero sum competitive environment (Seong 2010). In addition, IPTV providers have not discovered a strong IPTV business model that could become a growth engine. Therefore, the causes of this lack of growth must be investigated in order to guide IPTV operators in the right direction. The objective of this study is to identify issues that

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... prevent IPTV from quickly growing and gaining significant market share in a television distribution market currently dominated by cable TV providers. We then aim to provide suggestions for success of IPTV in the future. In order to achieve this goal, we apply the systems thinking method (Sterman 2000; 2001) as well as the case study approach. We selected the Korea Telecom (KT) IPTV service, Qook TV, as the case for the study. Qook TV currently has the most subscribers of all IPTV services in South Korea (Cho 2010; KT 2011). The systems thinking approach identifies main factors and influential relationships among factors over time that are related to the IPTV business.