Patrick Frater Asia Bureau ChiefGrowth 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 from 1.7 million in the fourth quarter of 2021. The new additions advanced the total number of paid streaming video subscriptions in the country to 14.7 million at the end of March.
The data was published by research house Media Partners Asia in its latest South Korea Online Video Consumer Insights & Analytics.
It leans on passive tracking of thousands of consumers by its AMPD subsidiary.The report found that Korea’s SVOD leaders Netflix, Wavve, TVing, Coupang Play and Disney+ largely maintained category share in the first quarter, representing an aggregate 86% of SVOD subscriptions and 83% consumer time spent watching premium video.
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