OTT platforms, typically bustling during the winter peak season, saw a sharp decline in viewer engagement as the nation’s attention turned to unfolding political drama. (Image courtesy of Digital News/CCL)
SEOUL, Dec. 13 (Korea Bizwire) – The recent declaration and swift repeal of martial law in South Korea, coupled with political turbulence surrounding President Yoon Suk-yeol, has significantly impacted the entertainment landscape, including the online streaming industry.
OTT platforms, typically bustling during the winter peak season, saw a sharp decline in viewer engagement as the nation’s attention turned to unfolding political drama.
OTT Viewership Slumps Amid Crisis
Data from Mobile Index revealed that in the first week of December, leading platforms like Netflix, Tving, and Wave experienced notable drops in viewership. Netflix, the dominant player in South Korea’s streaming market, recorded 19.24 million viewing hours during the week, a 3.6% decline from the previous week.
On December 4, following the martial law repeal, Netflix’s daily viewing time plummeted by 33.7% compared to three days earlier.
Tving’s weekly viewing hours fell to 11.25 million, marking its lowest performance of the year, while Wave and Disney+ also reported declines of 4.5% and 5.3%, respectively.
About 96 percent of the respondents for a survey said they use a streaming service once or more per week. (Image credit: Korea Bizwire)
New Content Overshadowed by Political Events
Streaming services had pinned high hopes on major releases to capture holiday audiences. Netflix debuted Trunk, starring Gong Yoo and Seo Hyun-jin, in late November, while Disney+ launched The Shop of Lights, following the success of its hit series Moving.
Tving also introduced the second season of Pachinko through its Apple TV+ partnership. Despite these efforts, the ongoing political crisis has disrupted traditional viewing patterns and raised concerns about its longer-term impact on the industry.
Historical Content Gains Traction
Amid the chaos, older films and shows addressing South Korea’s turbulent political history have found renewed interest. According to Wave, viewership for the film Spring of Seoul, which covers the December 12 military coup, surged by 874.3%.
Similarly, A Taxi Driver, depicting the 1980 Gwangju Uprising, saw a 1,108.7% increase, while the drama Youth of May, also based on the Gwangju events, experienced a 347% rise.
These titles also climbed streaming rankings on other platforms. Netflix listed Spring of Seoul as its second most-watched movie in South Korea on December 11, months after its May debut. Tving ranked 1987, centered on the June Democracy Movement, and A Taxi Driver among its top 10 films.
“Squid Game” Season 2 introduces a new set design featuring large “O” and “X” marks on the floor of the participants’ huge dormitory, in this photo provided by Netflix. (Image courtesy of Yonhap)
Industry Voices Speak Out
Prominent creators have linked the current turmoil to themes explored in their work. Hwang Dong-hyuk, director of Netflix’s global hit Squid Game, commented at a recent press event, “The unprecedented conflicts and upheavals we’re witnessing feel eerily connected to scenes from Squid Game.”
He added, “Whether through impeachment or resignation, those responsible must be held accountable promptly.”
As South Korea grapples with political uncertainty, the OTT industry faces an unusual duality—diminished viewership for new releases but a surge in interest for historical narratives that resonate with the current moment. This dynamic reflects the profound intersection of politics and culture shaping the nation’s collective consciousness.
Lina Jang (linajang@koreabizwire.com)
