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Pay TV Subscribers in South Korea increased by 0.67% in H2 2022

Photo by Jens Kreuter / Unsplash

The Ministry of ICT and Science and the Korea Association for ICT Promotion reported a slight increase in pay TV subscribers in the second half of 2022, with 36,248,397 subscribers, a growth of 0.67%, or 240,000 subscribers.

However, this growth rate is less than 1%, the lowest since the association began tracking subscribers in 2015 and half the growth rate of the second half of 2021.

The report, approved by the Ministry of Science and ICT (MSIT), revealed the breakdown of subscribers by the operator.

The top three operators were KT with 8,783,984 subscribers (24.23% market share), SK Broadband (IPTV) with 6,419,536 subscribers (17.71%), and LG U+ with 5,362,089 subscribers (14.79%).

The report also detailed the number of subscribers by media, with IPTV companies accounting for 20,565,609 subscribers (56.74%), SOs accounting for 12,729,441 subscribers (35.11%), and satellite operators accounting for 2,953,347 subscribers (8.15%).

The trend shows an increase in IPTV subscribers and a decrease in SO and satellite subscribers.

Since the number of IPTV subscribers exceeded the number of SO subscribers in November 2017, the number of IPTV subscribers has been steadily increasing while the number of SO subscribers has been decreasing.

As of December 31, 2020, the total number of pay TV subscribers was 36,927,326.

However, this figure includes users who receive free broadcasting services for social welfare purposes, users of satellite broadcasting in areas such as islands and mountains, and users through broadcasting community reception facility maintenance contracts.

The data will interest investors and strategists in the media industry as it reflects the ongoing shift towards IPTV and away from traditional broadcasting methods.

The slowing growth rate may also signal a maturing market, with potential implications for future business strategies and investment decisions.