Pay TV services revenue in South Korea is set to grow

Pay TV services revenue in South Korea is set to grow, albeit marginally, at a compound annual growth rate (CAGR) of 0.2% from US$5.55 billion in 2022 to US$5.6 billion in 2027, primarily supported by the increasing internet protocol television (IPTV) subscriptions, according to data and analytics company GlobalData.

The researcher’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.

“IPTV service revenue will increase at a CAGR of 3.3% 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,”  commented Hrushikesh Mahananda, Telecom Research Analyst at GlobalData.

“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,”  Mahananda added.