SEOUL, Aug. 30 (Korea Bizwire) — The number of South Korean users subscribing to the U.S. video streaming platform Netflix Inc. has more than quadrupled to surpass the 1.8 million mark, industry data showed Friday.
Netflix is estimated to have 1.86 million paid active streaming subscribers in the country as of July, compared with 420,000 users during the same period a year earlier, according to the data by Nielson Korea.
Industry analysts said the increase came after LG Uplus Corp. began offering Netflix on its set-top boxes in November 2018. Netflix has an exclusive distribution deal with the nation’s No. 3 mobile carrier.
The data also showed that the combined number of users of three global over-the-top (OTT) services — Netflix, YouTube and TikTok — jumped by 15.5 percent on-year to 29.98 million during the cited period.
Netflix, which started as a video rental firm in 1997, currently has nearly 150 million paid subscribers globally enjoying original and licensed TV series, documentaries and feature films across a wide variety of genres and languages.