Key regions: Asia, United Kingdom, United States, South Korea, Germany
The TV & Video market in South Korea has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in South Korea have shifted towards on-demand streaming services and high-quality content.
With the rise of smartphones and internet connectivity, consumers are increasingly looking for convenience and flexibility in their TV and video viewing experience. Subscription-based streaming platforms like Netflix and local services like Naver TV and Kakao TV have gained popularity, offering a wide range of content options and the ability to watch anytime, anywhere. Additionally, South Korean consumers have a strong preference for high-quality content, particularly in the form of K-dramas and K-pop music videos.
The demand for these types of content has not only driven the growth of domestic production but has also attracted international viewers, contributing to the overall growth of the TV & video market in South Korea. Trends in the market also reflect the influence of global and regional developments. South Korea is known for its advanced technology and infrastructure, which has enabled the widespread adoption of high-speed internet and mobile devices.
This has created a favorable environment for the growth of online video platforms and streaming services. Furthermore, the increasing popularity of social media platforms has led to the rise of short-form video content, with platforms like YouTube and TikTok gaining traction among South Korean users. The integration of social media and video content has created new opportunities for content creators and advertisers to reach a wider audience.
Local special circumstances in South Korea have also played a role in the development of the TV & video market. The country has a strong entertainment industry, producing a wide range of content that appeals to both domestic and international audiences. The success of South Korean dramas and music has helped to promote the country's cultural exports and attract foreign investment in the industry.
Additionally, the government has been supportive of the TV & video market, implementing policies and regulations that encourage innovation and competition. This has created a favorable business environment for both established players and new entrants. Underlying macroeconomic factors have also contributed to the growth of the TV & video market in South Korea.
The country has a strong economy and a high level of disposable income, allowing consumers to spend more on entertainment and leisure activities. Furthermore, the increasing penetration of smartphones and internet connectivity has made it easier for consumers to access TV and video content. The combination of these factors has created a favorable market for the TV & video industry to thrive.
In conclusion, the TV & Video market in South Korea is developing rapidly due to changing customer preferences, global and regional trends, local special circumstances, and underlying macroeconomic factors. The shift towards on-demand streaming services, the demand for high-quality content, and the integration of social media platforms have all contributed to the growth of the market. Additionally, South Korea's strong entertainment industry, supportive government policies, and favorable macroeconomic conditions have created a conducive environment for the TV & video market to flourish.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.Modeling approach / Segment size:
The segment size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant segment. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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