IPTV sales register US$1BN in South Korea
DetailsRebecca Hawkes | 12 February 2015
Television and Internet-bundled products now account for 43% of the globe's most connected country's pay-TV market, according to the latest figures from Korea Communications Commission.
South Korea's three major IPTV providers have gained significant ground on multi-system operators (MSOs), with the latter seeing their market share drop from 63.5% in 2012 to 58% in 2013.
Sales in the IPTV market grew from KRW842.9 billion (US$760.77 million) in 2012 to KRW1.1251 trillion ($1 billion) in 2013, representing an increase of 35.5%.
Video-on-demand (VOD) sales also grew 45% to KRW433.1 billion ($391 million) over the same period.
SKB grew its digital subscriber base by 1.8% and LG Uplus grew 2.3%, each making its presence felt on KT, whose market share decreased from 44% to 41.4% between 2012 and 2013 – said Korea Communications Commission.
Although system operators topped the list of subscribers in 72 districts – with CJ prominent in 20 districts, t-broad in 16, and C&M in 15 – their overall growth remained flat. KT affiliates, however, grew their market share from 25.8% to 27.2% by taking over five new districts.
Total broadcasting revenues stood at KRW14.347 trillion ($13 billion) at the end of 2013, up 6.3% from 2012, with revenues from programme providers registering KRW6.756 trillion ($6 billion).
The broadcasting advertising market shrank 2.7% to KRW3.2421 trillion ($3 billion) in the same period, with South Korea's three main terrestrial broadcasters' ad share falling from 65.0% in 2013 by 1.4% year-on-year.