Foreign names occupy nearly 90 percent of Korean video streaming market

[Graphics by Song Ji-yoon]

The burgeoning over-the-top media and video streaming service market in Korea is under command by multinationals YouTube, Netflix, and Facebook last year, according to a survey conducted by Korea Communications Standards Commission on Tuesday.

According to the survey of 6,029 people aged 13 years or older, the OTT service usage reached 66.3 percent in 2020, up by 14.3 percentage points from 52 percent a year ago. Key programs they watched were entertainment (69.8 percent), drama (37.2 percent), news (27.8 percent), and sports (21.8 percent). YouTube was the No. 1 OTT service brand with 62.3 percent in the usage rate, which was followed by Netflix (16.3 percent), Facebook (8.6 percent), Naver TV (4.8 percent), Wavve (3.2 percent), Tving (3 percent), and Afreeca TV (2.6 percent).

The combined usage of foreign OTT brands commanded 87.2 percent, whereas Korea’s leading OTT provider Naver TV fell short of even 5 percent.

Smartphone penetration was over 98 percent in all age groups, from teens to their 50s, and the figures for people in 60s and 70s were 91.7 percent and 50.8 percent, respectively.

The average daily time for TV and smartphone viewership was 2 hours 51 minutes and 1 hour 55 minutes, respectively. This is an increase of 9 minutes and 16 minutes, respectively, from the previous year, suggesting more stay-at-home practices amid the pandemic.

The percentage of pay TV viewers who used VOD services was 30.3 percent, showing a continued increase from the previous year. Pay TV subscribing households accounted for 92.2 percent of the total, while the IPTV subscription rate was 50.1 percent, up from 45.1 percent a year ago, and cable broadcasting subscription was 41.7 percent, down from 47.5 percent.

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