Coupang Play MAUs hit record high as OTT rates rise

[Courtesy of Coupang Play]

Coupang Play, a subscription-based over-the-top (OTT) streaming service under South Korean e-commerce giant Coupang Inc., is becoming a refuge from ‘streamflation’ (a portmanteau of streaming and inflation).

Coupang Play saw its monthly active users (MAUs) total around 6.65 million in December 2023, the highest since its launch in October 2020, while other OTT platforms did not see a significant end-of-year effect after raising prices to secure profitability.

According to data from big data analytics solution IGAWorks’ Mobile Index on Tuesday, Coupang Play recorded an over 30 percent surge in MAUs during the end-of-year binge-watching season, while Netflix, TVING, Wavve, Disney+, and others saw a single-digit increase or a slight decrease in MAUs.

Coupang allows its WOW members to access Coupang Play for just 4,990 won ($3.78) a month as part of its WOW membership bundle, which includes unlimited free rocket delivery regardless of the amount of money they spend. By maintaining its policy of free access for WOW members, the company further highlighted Coupang Play’s competitiveness.

Coupang Play saw about 1.56 million new installations or re-installs of its application, hitting the top spot in app searches.

Indigenous OTT TVING also saw an increase in users despite its price hike, showing a 5 percent increase in MAUs by consistently releasing original dramas based on webtoons.

Fellow Korean OTT Wavve increased some of its prices, but successfully defended its MAUs by raising the discount rate on its 12-month membership vouchers from 25 percent to 41 percent until the end of December 2023.

But global OTTs fared less well overall. Netflix grew just 2 percent despite releasing major works such as ‘Gyeongseong Creature,’ while Disney+ saw a 7 percent MAU decline with no big hits.