‘Streamflation’ Hits South Korea as Subscription Prices Climb Across Major OTT Platforms (Image supported by ChatGPT)
SEOUL, July 29 (Korea Bizwire) — South Korea’s over-the-top (OTT) streaming market has firmly established itself as a new standard in media consumption, with more than 20 million monthly active users (MAUs) now regularly engaging with major platforms.
According to new data released Tuesday by WiseApp Retail, a market analysis firm tracking real-time app and payment behavior, the combined MAUs of major OTT services in June reached 20.89 million — a 21% increase from 17.28 million in June 2022.
This milestone cements a trend first observed in January 2023, when the market crossed 20 million users for the first time. While user numbers dipped slightly mid-2023, they rebounded by May this year, signaling stable long-term growth in digital streaming.
Netflix remains the dominant player, commanding a 40% share with 13.93 million users. It is followed by Coupang Play with 7.32 million (21%), and Tving with 5.73 million (17%). Other notable platforms include Wavve (2.53 million), Disney+ (1.90 million), U+ Mobile TV (1.15 million), Laftel (890,000), Watcha (530,000), and SPOTV NOW (500,000).
The data reflects a maturing and competitive streaming market in South Korea, where global giants and domestic players alike are vying for increasingly loyal and digital-first audiences.
Ashley Song (ashley@koreabizwire.com)
