New Customers More Than Double Including Class101
[Asia Economy Reporter Kim Cheol-hyun] Startups operating online classes are experiencing significant growth due to the prolonged COVID-19 pandemic. In particular, the number of people wanting to learn various hobbies such as art, exercise, crafts, and drawing through online classes has sharply increased. With the 52-hour workweek and social distancing measures, more people are spending time at home and learning hobbies they had been interested in but hesitant to try, through non-face-to-face (untact) methods, creating a growing group of 'home-staying hobbyists.'
According to online lecture platform company Class101 on the 20th, the cumulative number of members as of last month increased 2.5 times compared to January last year, before COVID-19. The number of new subscribers also doubled compared to the same period last year. The cumulative number of classes increased nearly threefold from about 450 in January last year to over 1,200 in December. The number of creators providing lectures has also exceeded 65,000 in total.
Class101's main content is the 'Creative Class,' specialized in hobby development such as art, design, photography, video, cooking, music, and exercise, offering more than 500 courses. In addition, Class101 is expanding its service areas to include finance, self-development, and general knowledge. The response from students is also positive, with a satisfaction rate reaching 97% according to a survey conducted last October. The popularity factors include the ability to purchase all necessary materials for the courses at once and the opportunity to communicate directly with the creators conducting the lectures. A Class101 representative explained, "With the spread of work-life balance, small but certain happiness, and the gig economy, the platform has established itself as a leader in the ontact trend, driven mainly by people in their 20s and 30s."
Backpacker, which operates Korea's largest handmade market, Idus, recorded a 270% monthly average increase in users within one year of opening its online classes. More than 100,000 customers used the service in the second half of last year alone. Since launching this untact service to learn crafts in December 2019, the number of students has significantly increased last year amid the COVID-19 pandemic. Currently, over 160 diverse classes are offered in Idus's online handmade classes, where participating artists directly teach courses such as cooking, crafts, calligraphy, drawing, silkscreen printing, and soap making.
The reason startups like Class101 and Backpacker are gaining attention for their online lecture services is the large growth potential of this market. According to education market research firm HolonIQ, the global edutech market size is expected to expand more than twice, from $153 billion in 2018 to $342 billion by 2025. An industry insider said, "As outdoor activities became restricted due to COVID-19, more people are seeking 'home-staying hobbies' that can be enjoyed indoors, leading to rapid growth in online hobby classes. Along with the activation of the edutech market, startups operating online class platforms will actively expand their business areas."
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