Omdia Reports Local Online Video Services Take the Lead Over Netflix in South Korea

London, United Kingdom:
New research from Omdia reveals that Netflix maintains its leading position in South Korea's subscription-based online video market, accounting for 31% of the total subscriber base. However, major domestic platforms collectively represent a larger 40% share, led by Tving (16%), Coupang Play (13%) and Wavve (11%).
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South Korea: Subscription online video market share by operators' subscription base 2025, (%)
The performance of local platforms reflects their strong cultural alignment and strategic presence within South Korea's streaming ecosystem. With K-dramas continuing to play a significant role in the global content market, platforms such as Tving are expected to expand their content libraries to strengthen competitiveness both domestically and internationally.
As part of this broader strategy, CJ ENM, Tving's primary shareholder, has outlined plans for global expansion, targeting 15 million global subscribers by 2027. To support this ambition, CJ ENM has committed an additional KRW150 billion ($106 million) for content investment in 2025, on top of the KRW 1 trillion (approximately $706 million) budget announced last year. The company also plans to collaborate with studios in the US, Japan, and Southeast Asia, which are the key markets for its global expansion. Tving's international roll out is signaling a potential shift in its distribution approach that could influence competitive dynamics across global streaming markets.
Kia Ling Teoh, Senior Analyst at Omdia, commented: 'These are notable developments for the local video business. A potential game-changer could develop from the ongoing merger discussions between Tving and Wavve. If the deal proceeds, it could result in the formation of South Korea's largest domestic streaming service, severely narrowing the gap with Netflix and further reshaping the competitive landscape.'
Coupang Play, operated by South Korea's e-commerce firm Coupang, is currently the third-largest streaming platform in the country. The service is available exclusively to subscribers of Coupang's premium Wow membership program. While its original content library remains smaller than Tving, Coupang Play has expanded its offering through securing major sports broadcasting rights, and through strategic content partnerships with Hollywood studios including Paramount and Warner Bros. Discovery. These agreements provide exclusive access to popular international titles from Paramount+, HBO, Max, and Warner Bros., differentiating Coupang Play from competitors that focus more heavily on domestic originals.
Jun Wen Woo, Senior Analyst at Omdia, added: 'As the market continues to evolve, both global and local platforms are adapting their content and platform strategies to meet changing consumer expectations. While Netflix leads in terms of individual subscriber share, the collective momentum of domestic platforms, driven by strong local content, strategic investment, and platform innovation, positions them as key players in the future of South Korea's streaming ecosystem and increasingly, the global market.'
ABOUT OMDIA
Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250519923488/en/
Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.

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