Pay TV services revenue in South Korea is expected to grow marginally at a compound annual growth rate (CAGR) of 1.14%, from US$6.5 billion in 2021 to US$6.9 billion in 2026, mainly supported by the IPTV segment, forecasted data and analytics company GlobalData.
GlobalData’s South Korea pay TV forecast also reveals that IPTV services will be the only pay TV service segment to achieve revenue growth, while DTH and cable TV service segments will see their revenues decline over the forecast period. In fact, growth in IPTV subscriptions, thanks to improved fixed broadband infrastructure in the country, rising adoption of multiplay packages inclusive of IPTV, and the steady rise in IPTV ARPU, will drive IPTV revenue growth over the forecast period.
“KT Corp will lead the pay TV services market in South Korea in terms of subscriptions during the forecast period. Its leadership in the pay TV market is primarily due to its monopoly in the DTH segment and strong position in the IPTV segment, where it accounts for the largest share. KT and other major operators such as LGU+ and SK Telecom are offering discounted multiplay bundled plans with IPTV to increase their subscriber base and strengthen their position in the market,” commented Harendra Sharma, Telecom Analyst at GlobalData.