Streaming platforms in South Korea increased during the last year putting on a close gap between worldwide platform, Netflix and homegrown platform, TVing.
The intense competition between Netflix and TVing revealed the increase of each market’s global platform over the past years. As Netflix released ‘Squid Game 2’ last December 26, 2024, which garnered a global sensation and immense audience, the close gap between all streaming platforms were taken on another level increasing the subscriptions and streamers of each individual across the country.
According to reports, Netflix maintained its leadership of a 35% view share and TVing with 34% making a thin and close battle between both platforms. The streaming giants both accumulated a total of 70% total premium VOD viewership and snatched 80% of new subscriptions in 2024.
In the fourth quarter of the year, Netflix was able to gain more leadership in the market thanks to ‘Squid Game 2’. On the other hand, TVing continues its impressive growth with different content and marketing strategies by combining a variety of promotional aspects from broadcast shows, programming, and sports, all offered at a budget-friendly-ad-supported-tier.
Nonetheless, both streaming platforms still strive to deliver proper and accessible viewing for audience’s liking. Even with a close gap in percentages and numbers wise, the dynamic between the platforms continues to shift producing a unique leverage in the streaming battle.
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