Key regions: Europe, United States, France, United Kingdom, Germany
The Traditional TV & Home Video market in South Korea has seen significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in South Korea have shifted towards streaming services and on-demand content, as consumers increasingly prioritize convenience and flexibility in their viewing habits.
This has led to a decline in traditional TV viewership and a rise in subscription-based streaming platforms. Additionally, the popularity of smartphones and other mobile devices has contributed to the growth of mobile video consumption in South Korea. Trends in the market show that South Korean consumers are increasingly opting for streaming services over traditional TV and home video options.
This can be attributed to the wide variety of content available on streaming platforms, as well as the ability to watch shows and movies on-demand. The convenience of streaming services also allows consumers to watch content on multiple devices, such as smartphones, tablets, and smart TVs. As a result, traditional TV providers in South Korea are facing increasing competition from streaming platforms.
Local special circumstances in South Korea have also played a role in the development of the Traditional TV & Home Video market. South Korea has one of the highest internet penetration rates in the world, with a large percentage of the population having access to high-speed internet. This has made it easier for consumers to access streaming services and consume online video content.
Additionally, South Korea has a strong technology infrastructure and a culture that embraces new technologies, which has further facilitated the growth of the streaming market. Underlying macroeconomic factors have also contributed to the growth of the Traditional TV & Home Video market in South Korea. The country has a strong economy and a high standard of living, which has led to increased disposable income for many consumers.
This has allowed consumers to invest in high-quality home entertainment systems and subscribe to streaming services. Furthermore, the government in South Korea has implemented policies to support the growth of the digital economy, including the development of high-speed internet infrastructure and the promotion of digital content creation. In conclusion, the Traditional TV & Home Video market in South Korea is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors.
The shift towards streaming services and on-demand content reflects the desire for convenience and flexibility among South Korean consumers. The strong internet infrastructure and government support for the digital economy have also contributed to the growth of the market.
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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