[팩플] Kakao, the first subscription product released, this is different from Naver membership

Min-soo Yeo, co-representative of Kakao, announcing the launch of an electronic wallet that stores IDs in KakaoTalk at the developer event’If Kakao 2020′ in October last year. yunhap news

Kakao, who declared that it would become a’subscription platform’, released its first subscription product. It is’Emoji Plus (4,900 won per month)’ and’Talk Drawer Plus (990 won per month)’, a monthly cloud for personal use, where you can freely use the emoticons registered in the Kakao Shop for 4,900 won per month. This is the first time Kakao has applied a subscription model to its own products, except for the music streaming’Melon’ acquired from SK Telecom.

KakaoTalk’s business model is expanding. It is a strategy that attracts users with a free service → posts advertisements → leads to subscription products.
Kakao’s largest weapon is KakaoTalk, which is used by 50 million people. Based on KakaoTalk users, new services such as Kakao Bank, Pay, and Games were able to settle in the market.
The worries about the KakaoTalk profit model was also resolved with the advertisement’Talkboard’ posted on the top of KakaoTalk in the second half of 2019. As of the end of last year, 12,000 advertisers registered, and average daily sales exceeded 1 billion won.
· Next is the subscription. Co-CEO Jo Soo-yong said, “We will show you a new content subscription platform within Kakao Talk” at the Kakao Developers Conference (IF 2020) in November.

Strictly speaking, the emoticon and talk drawer subscription that was introduced on this day is not a content subscription service. However, looking at the’Kakao Wallet’, it seems the core of the Kakao subscription model in the future.

· To sign up for Kakao Talk subscription service, opening a Kakao Talk wallet is essential. It is a pavement to simplify the subscription subscription process and manage the entire subscription product for each user at once.
· If you have only made a KakaoTalk wallet, just click the’Agree’ button twice to complete the subscription to Emoticon Plus. complete. In November, co-CEO Yeo Min-soo said, “You will be able to select products very easily, get certified, and sign contracts as if shopping online in KakaoTalk” as a service.
· A Kakao official said, “KakaoTalk wallet will represent identity authentication and payment in all Kakao services in the future.”

Kakao is expanding its business to finance, shopping, search, video, and advertisement with the goal of “connecting all areas of life.” Subscription is a must-have feature for KakaoTalk Super App.

· Kakao’s subscription is largely divided into two categories:’product subscription’ and’content subscription’. Product subscription started in November of last year through rentals with home appliance and furniture companies. A content subscription platform will also be released within the first half of the year. The application and payment are resolved in KakaoTalk. KakaoTalk acts as a kind of intermediary platform.
· Professor Seo Yong-gu of the Department of Business Administration at Sookmyung Women’s University said, “As many companies are switching to subscription models as it becomes difficult to increase new customers, the possibility of success is high even if Kakao focuses on the role of brokering subscriptions. “We will go to a model that sells subscription products and mediates external subscription products.”

· Naver Plus Membership, launched by Naver in June of last year, attracted 2.5 million subscribers in half a year. If you pay a monthly subscription fee of 4900 won, up to 5% of the payment amount is accumulated as points when shopping, and content such as webtoons, music and movies are bundled (bundled) and provided.
· Naver membership is a model that adds content as a bonus for shopping users like Amazon and Coupang. On the other hand, Kakao aims to be a platform that curates and connects multiple subscription services.
· A Kakao official said, “Kakao also has a variety of contents such as webtoons, music, and video, but it is premature to bundle these contents together in the form of membership,” he said. “It is first to increase the competitiveness of each service independently.”

Reporter Wonyeob Jung [email protected]

Packed Banner

Click here to subscribe to the packletter → https://url.kr/qmvPIX