TVING, Consecutive Original Content Pushes Reach Record 3.34 Million Monthly Users

[Asia Economy Reporter Koo Eun-mo] Online video service (OTT) TVING has recorded its highest-ever monthly active users (MAU) as it focuses on producing original content.

According to TVING on the 16th, based on Nielsen Korea Click data last month, TVING's MAU was counted at 3.34 million. This is an increase of more than 1.1 million since its launch as an independent corporation in October last year. The previous highest figure was 3.27 million recorded in March.

The active supply of original content is analyzed as the background for the recent increase in users. TVING succeeded in attracting young users by releasing new content such as "New Journey to the West Spring Camp" and "Idol Dictation Contest," derived from tvN variety shows. Additionally, original variety shows like "High School Mystery Club," "Baek Jong-won's Four Seasons," "Famous Singer Hidden Track," the movie "Seobok," and dramas "Yumi's Cells," "Mouse: The Predator," have also been well received and popular among users.

Since becoming independent from CJ ENM in October last year, TVING's cumulative paid subscribers have increased by 63%, and new app installations have risen by 67%. Moreover, more than half (57.1%) of all paid subscribers watch at least one piece of content daily, indicating high engagement and loyalty.

Furthermore, the fact that both CJ ENM (83.33%) and JTBC (16.67%), which hold shares, possess high-level content planning and production capabilities is another factor that raises expectations for smooth original content supply in the future. It is also analyzed that the recent inclusion of TVING in Naver Plus Membership benefits contributed to the increase in users.

In the second half of this year, TVING plans to consecutively release original content including the drama "Yumi's Cells" starring Kim Go-eun, the drama "Welcome to Witch's Restaurant" starring Song Ji-hyo, and movies "Shark: The Beginning," "Midnight," "Happy New Year," as well as the variety show "Transit Love."

Wave also achieved its highest level this year with an MAU of 3.73 million last month based on Nielsen Korea Click data. This figure is close to the previous record of 3.88 million (September 2020). According to PC, mobile, and application traffic self-analysis statistics, the MAU last month was 9.5 million, the highest figure except for the year-end and New Year period (December and January) when it consecutively recorded over 10 million.

The strong performance of domestic OTTs TVING and Wave contrasts with global OTT leader Netflix, which reached its highest-ever MAU of 8.95 million in January this year but has been on a downward trend for five consecutive months (7.91 million in May). However, Netflix is also expected to recover its upward momentum as it has announced major works such as the drama "Kingdom: Ashin of the North" in the second half of the year.