Market Insights Advertising & Media Esports

Streaming - South Korea

South Korea

In South Korea, revenue in the Streaming market is projected to reach €4.6m in 2024.
Revenue in this sector is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 7.66%, leading to a projected market volume of €6.6m by 2029.
While in South Korea is part of a broader market, most revenue is generated China, which has a projected market volume of €37.6m in 2024.
In South Korea's Streaming market, the number of users is expected to amount to 9.1m users by 2029.
User penetration in South Korea will be 14.8% in 2024 and is anticipated to rise to 17.7% by 2029.
Additionally, the average revenue per user (ARPU) in South Korea is expected to amount to €0.6.
South Korea's eSports streaming market is experiencing unprecedented growth, driven by an increasingly engaged audience and innovative content delivery platforms.

Key regions: Germany, United States, China, India, South Korea

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Analyst Opinion

The eSports market in South Korea is rapidly growing, driven by factors such as the increasing popularity of online gaming, rising interest in competitive gaming, and the convenience of streaming services. South Korea's average growth rate in the streaming market is influenced by the country's advanced technology and strong gaming culture.

Customer preferences: As the eSports market continues to grow in South Korea, there has been a notable increase in the demand for streaming services. This trend is driven by a growing preference for online entertainment among consumers, especially younger generations. With the rise of mobile gaming and the availability of high-speed internet, streaming platforms have become a popular way for individuals to access and engage with their favorite eSports content. Additionally, the convenience and flexibility of streaming services align with the fast-paced and constantly connected lifestyle of South Koreans, making it an attractive option for entertainment.

Trends in the market: In South Korea, the eSports market is experiencing a surge in streaming services, with platforms like Twitch and AfreecaTV dominating the market. This trend is expected to continue, as the demand for gaming content and live streaming increases among the country's tech-savvy population. This has significant implications for industry stakeholders, as it presents new opportunities for revenue generation through sponsorships, advertisements, and subscriptions. Additionally, the rise of streaming is also leading to the growth of eSports teams and players, as they can now reach a wider audience and build a fan base through live streaming. As the market for streaming in eSports continues to evolve, we can expect to see advancements in technology and content creation, further solidifying South Korea's position as a leader in the eSports industry.

Local special circumstances: In South Korea, the Streaming Market within the eSports Market has flourished due to the country's advanced technology infrastructure and widespread adoption of gaming culture. Additionally, a strong regulatory framework has enabled the market to thrive, with government support for eSports events and leagues. The country's unique cultural emphasis on competition and high-speed internet connectivity have also contributed to the growth of the streaming market. Furthermore, the popularity of mobile gaming in South Korea has led to the development of innovative streaming platforms that cater to the growing demand for mobile eSports.

Underlying macroeconomic factors: The growth of the Streaming Market within the eSports Market in South Korea is heavily impacted by macroeconomic factors such as the overall health of the national economy, government policies, and global economic trends. With a strong and stable economy, South Korea has a large market for eSports and streaming, as well as significant investments in technology and infrastructure. The country's supportive regulatory environment for the gaming industry has also contributed to the growth of the market. Furthermore, the increasing popularity of eSports and streaming among the younger population and the growing trend of online entertainment have also played a significant role in driving the demand for these services in South Korea.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Streaming market, which comprises revenues from live broadcasting gaming content. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.