Forecast: South Korean pay-TV revenue set for growth
May 24, 2023
Pay-TV service revenue in South Korea is set to grow, albeit marginally, at a compound annual growth rate (CAGR) of 0.2 per cent from $5.55 billion (€5.1bn) in 2022 to $5.6 billion in 2027, primarily supported by the increasing internet protocol television (IPTV) subscriptions, according to GlobalData, the data and analytics company.
GlobalData’s South Korea Pay-TV Forecast (Q1-2023) reveals that IPTV service will be the only pay-TV service segment to achieve revenue growth, while cable TV and DTH services segments will continue to witness a drop in revenue over the forecast period.
Hrushikesh Mahananda, Telecom Research Analyst at GlobalData, commented: “IPTV service revenue will increase at a CAGR of 3.3 per cent between 2022 and 2027, driven by the growing IPTV subscriptions with increasing adoption of multiplay packages inclusive of IPTV service, and projected rise in IPTV ARPU. KT will lead the overall pay-TV services market through 2027, given its monopoly in the DTH segment and strong foothold in the IPTV segment. The operator’s keen focus on delivering high-quality pay-TV services with access to a wide array of digital media content is driving its subscription gains. Moreover, the operator is using artificial intelligence technology and big data analytics capabilities to improve customer experience and manage churn.”