Growth in paid SVOD subscriptions slowed sharply in the first quarter of 2022 in South Korea, one of the most fiercely contested entertainment markets. Net new additions were some 600,000, down fro…
, but it has yet to break into the ranks of the top five premium streamers.
“At nearly 15 million paid SVOD subscriptions and five major brands investing heavily in local content, the Korean SVOD industry remains healthy and competitive, though growth slowed considerably in the quarter,” said Vivek Couto, MPA’s executive director. “In a post-pandemic environment, Korean consumers were drawn to linear television in the first quarter to catch major events like the Winter Olympics in February and coverage of a close Korean presidential election in March…. contributing to a slower quarter for SVOD.
The AMPD data shows that Korean-made content continues to dominate the market. Korean TV dramas accounted for 48% of consumption, while Korean variety and reality shows grabbed another 23% of viewing time. Among other categories, Korean movies took a 4% share, U.S. series 8%, U.S. films 5%, Japanese anime 3% and Chinese-made content 2%.
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