Trend Hybrid subscription and advertising models and Korean content hits drive gradual OTT growth

Summary

KISDI expects Korea's OTT market to keep growing gradually as services combine subscription video on demand with advertising-based and free ad-supported streaming models. The global success of Korean content is expected to reinforce this growth. Citing PwC, the report states that advertising-based video on demand accounted for 21.7 percent of the OTT market in 2024. The total OTT market is projected to grow from 1.7 billion dollars in 2024 to 2.5 billion dollars in 2029, an average of 7.7 percent a year, while the advertising-based segment grows 14.6 percent a year. Advertising is thus becoming a larger part of how OTT platforms earn revenue in Korea.