Tving users increase in December while others drop in Korean OTT market

In June last year, Tving launched ‘Paramount Plus Brand Hall’ in cooperation with Paramount Plus. [Source : Tving]

CJ ENM Co.’s over-the-top streaming platform Tving Co. stood out with a double-digit growth rate in December while other companies saw a decline in subscribers in South Korea.

According to Mobile Index data on Wednesday, the number of monthly active users (MAU) of Tving was 4,897,851 in December, a 17 percent rise from January of the same year. Netflix Inc., a rival platform, reported a 7.0 percent fall to 11,602,073 during the same period and Wavve Corp. was down 17 percent to 4,082,493.

Tving was the only OTT brand to see an increase in new installations during the year. In December, the number of Tving installations was 612,404, up 27 percent from the beginning of the year. During the same period, Netflix recorded 352,400 installations, down 37 percent, and Wavve was down 42 percent to 170,879 installations.

Tving’s fast growth was driven by new business leads and partnerships with domestic and foreign operators. In June last year, Tving launched ‘Paramount Plus Brand Hall’ in cooperation with Paramount Plus. In December, the companuy acquired Season from KT Corp.

Tving’s MAUs in June and December of last year increased by 33 percent and 101 percent, respectively. Tving is also increasing its activity in smart TV. The company released an Android TV app at the end of 2021, followed by an Apple TV app in April of last year, ranking first in the TV app category on the App Store.

Last year, Tving partnered with telecom companies. In July of last year, ‘Tving Genie Choice’, which offers unlimited access to Tving’s content, was jointly launched with KT, and ‘Tving Pack’ was released with LG Uplus Corp.