‘Attack on Teabing’… Wave and native OTT Yanggang composition in earnest

As Teabing, a native online video service (OTT), is pursuing the wave, there is a growing possibility that the market will be reorganized into Netflix, the’dinosaur’, and the’first lecture, dual composition’.

According to Nielsen KoreanClick on the 25th, Netflix had the highest monthly average unique users (UV) of major OTT services in Korea last year with 6375,000. Next, there were 3.442,000 waves, 2.41 million teabing, 2061,000 seasons, 1.84 million U+ mobile tv, and 926,000 watchers.

Teabing original’Girl’s Gochuri Class’. Starting with this work, Teabing invests more than 400 billion won in the production of original content for three years. [사진 티빙]

Netflix recorded the largest growth rate in 2019 with an increase of 3.05 million users (92%). Following that, the number of Teabing users increased by 898,000 (59%), the Wave by 627,000 (22%), and the Watcha by 471,000 (103%). On the other hand, Season and U+ Mobile TV saw a decrease of 85,000 (4%) and 387,000 (17%) users, respectively. As a result, in the domestic OTT rankings, Netflix and Wave maintained the 1st and 2nd place, while Teabing jumped to 3rd place, surpassing Season and U+ Mobile TV.

With Netflix rising to the unrivaled No. 1 spot and Teabing closely following the wave, the industry is predicting that the domestic OTT market will be reorganized into the first place and second place this year. Teabing has declared war on Wave this year by reinforcing original content and joining Naver membership.

Earlier, Teabing was split from CJ ENM in October of last year and launched as an independent corporation, and then took JTBC Studio as the second largest shareholder on the 7th. Teabing plans to showcase original content such as dramas and entertainments that have invested more than 400 billion won in production costs over the next three years by combining the production capabilities of the two companies. Teabing CEO Yang Ji-eul said, “By 2023, by combining the capabilities of the two companies, Teabing will grow into a leading domestic OTT platform with over 5 million paid subscribers.”
As soon as this is reached, teabing viewing rights will be added to’Naver Plus Membership’ starting next month. Naver Membership is a membership service that accumulates up to 5% of the payment amount with Naver Pay for 4900 won per month and provides additional digital content usage rights. The service is so popular that it has gathered 2.5 million members within six months of its launch, so if the teabing viewing right is added, the number of teabing users may increase explosively.

Disney Plus.

This year, in particular, Disney Plus is predicting to enter the domestic market, and the OTT industry is expected to change its perception. Disney Plus, which started its service in 2019, has attracted 87 million subscribers as of November last year and is pursuing Netflix (approximately 210 million).

Kim Hoi-jae, a researcher at Daishin Securities, predicted, “While Netflix and Disney Plus take their own route based on original content with huge capital, the domestic OTT industry will begin a joint venture between companies to secure competitiveness.”

Reporter Kim Kyung-jin [email protected]