Revenues from pay-TV services market in South Korea are set to grow from $6.4 billion in 2020 to $7.2 billion in 2025, at a compound annual growth rate (CAGR) of 2.5 per cent, mainly supported by the increasing Internet protocol television (IPTV) subscriptions and growing pay-TV average revenue per user (ARPU), according to GlobalData, the data and analytics company.
An analysis of GlobalData’s South Korea Pay-TV Communication Forecast Model highlights that the cable and direct-to-home (DTH) subscriptions will decline at a CAGR of 0.7 per cent and 3 per cent, respectively, between 2020-2025. IPTV subscriptions, on the other hand, will increase at a CAGR of 2.6 per cent over the forecast period.
Aasif Iqbal, Telecom Analyst at GlobalData, says: “IPTV will remain the leading platform to deliver pay-TV services in South Korea through 2025. IPTV subscriptions will grow from 17.4 million in 2020 to an estimated 19.8 million in 2025 end, primarily supported by the improving fixed broadband infrastructure and growing adoption of multiplay packages with integrated IPTV services
“KT led the pay-TV service market in 2020 with an estimated 31.7 per cent share of overall pay-TV subscriptions. To compete in the market and retain leading position, KT has been looking to attract subscribers with discounts on multiplay plans. For instance, it is currently offering 30 per cent discount on multiplay plans combining pay-TV and fixed broadband services.”