The Popularity of OTT Media Services대한민국청소년영어뉴스/KOREAN YOUTH ENGLISH NEWS
기사 메일전송
  • 기사등록 2021-10-13 11:51:17

Squid Game, a Korean drama, is ranked as the first most popular program in 82 countries among 83 countries on Netflix. How could this Korean drama become such a popular drama? It is because of the most popular OTT media platform in the world, Netflix. OTT is an abbreviation of 'over the top', and it means a media service that provides movies, broadcast programs, and education through the internet.

OTT media service provides very various content to people. Young people love OTT media services due to this idea. They can watch Korean movies, American dramas, and Indian Bollywood movies. Also, if we connect to the Internet, we will enjoy programs without any limits of time and place. Netflix and Hulu are the most representative OTT media platforms around the world. In South Korea, there are OTT platforms that include Tving, WATCHA, and Wavve. Due to the effects of COVID-19, people stay at home longer than in the past. Therefore, the scope and value of OTT media platforms are increasing. In fact, the value of Netflix has come to be 200 billion dollars.

▲ Graph of Netflix subscribers

In South Korea, domestic OTT media platforms are increasing. The MAU (monthly active users) of Tving is 3.68 million people, and that of Wavve is also 3.68 million people. Due to the pandemic situation, many people around 40 to 50 years old have also signed up for them. The ratio of people around 40 years old has increased to 74.1 percent. In addition, since people around 10-20 years old love American dramas, their ratio has increased to 88.6 percent and 91.6 percent. Also, we can expect the future of domestic OTT media platforms. Tving has teamed up with JTBC and Naver to diversify content. Wavve is going to invest one trillion won to develop its contents by 2025.

▲ Korean OTT media platforms

OTT media service means the service providing various media programs through the Internet. Due to the effects of COVID-19, every generation is signing up for the OTT media platform. It can be one of the reasons why "Squid Game" has become a globally popular drama.

By Oh Kyoung Taek


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