25 September 2025
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Korea’s premium video-on-demand (VOD) market crossed US$1.1 billion in the first half of 2025, powered by strong local content pipelines and the rapid adoption of connected TV (CTV). Paid SVOD subscriptions climbed to 24.5 million, with 1.5 million net additions during the period.
The integration of CTV measurement from Q2 significantly expanded reported reach and engagement, adding around 35% more monthly active users per platform and nearly doubling total viewing hours to 1.2 billion.
Market Leaders & Competitive Shifts
Netflix retained leadership with 8.2 million subscribers and 47% share of viewership, driven by Squid Game Season 3, a steady slate of licensed films, and its partnership with Naver Plus offering ad-supported access.
TVING saw the largest net additions, boosted by an affordable ad-supported tier, live sports, and a strong drama and variety slate. Coupang Play expanded with a free ad-supported tier and its new Sports Pass, while the TVING–Wavve merger (approved in June) is on track to create a 9.2 million-subscriber domestic challenger to Netflix.
Content Remains King
Local storytelling continues to dominate, accounting for 86% of premium VOD viewing hours in Q2 — led by Korean dramas (48%) and variety/reality programming (27%). US movies represented the largest non-local category but remained niche at just 6% of viewing time.
“Korea’s premium VOD sector is consolidating around a handful of scaled leaders,” said Vivek Couto, Executive Director of MPA. “Local storytelling remains the foundation of engagement and monetization, while CTV is unlocking new audiences and advertising opportunities. The TVING–Wavve merger will reshape competition, providing a stronger domestic counterweight to Netflix’s scale.”
Audience Reach
“Korean content’s dominance is near-universal, reaching 88% of all premium VOD users,” added Dhivya T, Lead Analyst at MPA and ampd. “High-profile exclusives across Netflix, TVING, Coupang Play, and Disney+ continue to define competition, while advertising tiers are now central to subscriber acquisition, particularly in price-sensitive urban segments.”
For deeper analysis, see MPA’s Korea Online Video Consumer Insights & Analytics report.