2024年5月25日
5 Popular Video Streaming Websites in Korea for Marketing｜Characteristics and Trends of the Korean OTT Market
How is the video distribution market in South Korea different from that in Japan?
I want to know which video distribution sites have the highest market share in Korea!
There are various video distribution sites in Japan, but they are different from those that attract attention in Korea. Many people interested in Korea or considering video marketing may have the above questions.
In this article, we will explain in detail the characteristics and trends of the video distribution site market in South Korea, which has been growing at a dizzying pace in recent years. We have also selected five popular video distribution sites operated by Korean companies, so please check them out as well.
Features and Trends of the Video Distribution Site Market in South Korea
First, we will explain the trends of the video distribution website market in South Korea and how it differs from Japan. The usage status of video distribution services in South Korea is as follows.
Ranking | Video distribution service | Head Office | Number of users in Korea |
No.1 | Netflix | U.S.A. | 10.55 million subscribers |
No.2 | TVING | Korea | 3.24 million |
No.3 | Coupang Play | Korea | 3.21 million |
No.4 | wavve | Korea | 3.07 million |
No.5 | U+Mobile tv | Korea | 1.56 million |
No.6 | Disney＋ | U.S.A. | 1.46 million |
No.7 | WATCHA | Korea | 1.23 million |
No.8 | seezn | Korea | 1.16 million |
Citation: Wise Application Retail Goods, "April 2022 Survey Results."
The main operators of subscription-based OTT services in South Korea are telecommunication and broadcasting companies and broadcast content companies. The OTT market in South Korea has undergone a series of restructuring and renewals from 2019 to the present, with the following characteristics and trends
Mainly movies and TV content
Movement by South Korean OTT companies toward Netflix
The termination of the popular video site PandoraTV service
YouTube is used as a search site
South Korea's OTT market is mainly for movies and TV content
While the U.S. has experienced the "cord-cutting phenomenon" of customers canceling pay cable TV and flowing to OTT, there is no such movement in the Korean OTT market. In Korea, about 95% of all generations are subscribers to pay cable TV and IPTV, and they still have customers.
The reason may be that the monthly fee for cable TV is inexpensive, in the range of 1,000 Japanese yen, and that the content delivered by OTT is equivalent to that of TV. The majority of the customers subscribe to OTT for their favorite content while maintaining their IPTV subscriptions.
Many greedy users cancel their existing OTT subscriptions when they are satisfied to a certain extent, and then subscribe to yet another OTT. In order to prevent such defection, there is a growing trend toward differentiation through unique content.
(Reference: Korea Media Watch, "Korea's Content Investment Strategy without Separate Terrestrial and Pay TV")
Korean OTT Companies' Movement toward Netflix
Netflix has the largest number of service subscribers and is by far the most popular video distribution service in the country. The strategic partnership between CJ ENM, Korea's premier media entertainment company, and Studio Dragon, a drama production company, has attracted even more attention.
This is a growing trend among OTT services in South Korea to compete with Netflix. In recent years, companies have been integrating and expanding their services through mergers in order to strengthen their domestic platforms.
For example, the 8th-ranked "seezn" will be merged with the 2nd-ranked TVING in October 2022, and merger negotiations are currently ongoing between the 2nd-ranked TVING and the 4th-ranked wavve.
Termination of Service of Popular Korean Video Site "PandoraTV
PandoraTV, a video sharing service created in 2004, is so popular that it surpassed YouTube to become the number one video distribution market in Korea. It was the world's first video sharing site where users provided advertisements, and 20 million site visitors accessed the site every month.
The site is gaining popularity and attention in Japan not only because it offers unlimited access to a variety of movies and animations for free, but also because it is available in Japanese. However, due to the prevalence of copyright infringement and illegally filmed content, the service was terminated on January 31, 2023.
Currently, access to the Pandora TV URL has been replaced with access to a decentralized film industry platform called moviebloc, a site that allows users to purchase movie tickets or invest in projects using a unique digital currency. or invest in a project through its own digital currency.
Currently, it cannot be used as a follow-up site due to the small number of movies uploaded and the different purpose of the site.
(Reference: "[Latest] Pandora tv has closed! It has been replaced by Moviebloc, a movie distribution platform!
Use YouTube as a search site
YouTube" is a well-known online video sharing platform in Japan. However, in Korea, it is also utilized as a search site like Google. Of course, many users watch it as a substitute for TV, but young people in particular tend to use it as a search site.
On video sharing platforms, genres such as "ASMR" and "Moppan" are gaining popularity worldwide. These are new genres that have gained popularity from Korean videos and have the potential to become trends in the future.
Five Popular Video Websites from Korea
From here, let's take a closer look at video distribution services that originated in Korea from among the above eight popular sites in Korea. We will cover the following five video distribution services.
TVING
Coupang Play
wavve (Wave)
U+Mobile tv
WATCHA
Please refer to the following information for details on whether or not viewing from Japan is possible.
TVING
TVING" is one of the largest video distribution services in South Korea, established in 2020, and is the second most popular after Netflix. It is operated by "CJ ENM," the aforementioned major entertainment company.
It specializes in Korean domestic TV programs and features many programs from the company's TV stations such as "tvN," "Mnet," and "OCN.
Although it has attracted attention from Korean drama and K-POP fans in Japan as well, it is not usually available for viewing from Japan. However, it is possible to watch them by using a "virtual private network" called a "VPN service.
Coupang Play
Coupang Play is a video streaming service operated by the Korean Internet company Coupang. Although it used to be said that its lineup was small, in recent years it has been diversifying its content through aggressive investment, and is gaining popularity at a rate on par with TVING.
Coupang Play is characterized by its focus on sports content, including live broadcasts of the K-League, professional sports leagues such as the NFL, MLS, and NHL, and the ONE Championship, the largest martial arts event in Asia.
This video streaming service is also attracting attention from Japan, as it offers the latest Korean dramas as well as originally produced dramas. However, Coupang cannot be accessed from Japan, so you will need to use a VPN service to watch.
wavve
wavve is a video distribution service founded by three Korean terrestrial broadcasting companies, KBS, MBC, and SBS, and a telecommunications company, Telecom. wavve launched its service in 2019 and surpassed the 3 million user mark in 2022, which is tied for second and third place.
On wavve, Korean domestic dramas and variety shows are streamed in real time and are basically free. It features a variety of genres broadcast on terrestrial TV, including sports and news.
Since viewing from Japan is not normally available here either, the use of a VPN service is recommended if you wish to use this service.
U+ Mobile tv
U+ Mobile tv" is an optional service for mobile subscribers provided by LG U+, a comprehensive telecommunications carrier. It is a video streaming service exclusively for smartphones and tablets, and requires an app to be downloaded to access the service.
Programs such as those from the three Korean terrestrial TV companies are available, and the service also features adult content that other companies do not offer. Many movies and dramas are available for free, and a total of 15 different channels are available, including news, entertainment, sports, music, and kids.
WATCHA
WATCHA is a monthly subscription video streaming service specializing in Korean Wave, established in 2011 and launched in Japan in 2020, and is the only site that allows easy viewing without using a VPN service. It is currently expanding into the video distribution market not only in Japan but also in Asia.
It features not only trendy Korean dramas, variety shows, and popular classics, but also the latest Korean productions that are not available on video distribution sites in Japan. We make sure that our video distribution services do not have the same titles as other video distribution services, and we even have core titles that even Korean movie buffs may not know about.
Another advantage is that you can watch them on almost any device, including smartphones, tablets, and Chromecasts.
Conclusion
Video distribution sites originating from South Korea have gained momentum in recent years and are expanding into the Asian video distribution market. Currently, there are only a few sites and applications available for viewing from Japan, but there is no doubt that they will become more widespread in the future.
When conducting video marketing, it is important to first understand the market and trends in South Korea. Please refer to the contents of this article and popular video distribution sites to help you in your video production.
Translated with www.DeepL.com/Translator (free version)
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