Models showcase Netflix on KT Corp.’s pay TV platform in this photo provided by KT on July 31, 2020.
SEOUL, March 18 (Korea Bizwire) — South Koreans are estimated to have spent more than 70 billion won (US$62.4 million) for Netflix’s video streaming services last month, more than tripling from the previous year, data showed Thursday.
Local credit and debit card payments on the video streaming platform reached 72.5 billion won in February, the highest-ever monthly figure, compared with 22.5 billion won the same month the previous year, according to the data from industry tacker WiseApp.
Based on the data, WiseApp said there were an estimated 5.01 million South Koreans who made payments to Netflix last month, compared with 1.68 million the previous year.
The data tracker said the 20s age group accounted for the largest share of paid users at 43.6 percent, followed by those in their 30s at 24.2 percent.
WiseApp added that the data excludes other payment methods, such as those through telecom operators.
Netflix has gained considerable popularity in the country since its debut in 2015 on the back of Korean-language content.
Another mobile data tracker, IGAWorks, said Netflix recorded over 10 million monthly active users on its mobile apps in the country last month.
Netflix has released Korean-language content over the years, including the period zombie series “Kingdom” and the space blockbuster “Space Sweepers.” The company has promised to invest $500 million to create South Korean-made projects this year.
(Yonhap)
