"2023, Focus on Short-Form Content and Super Apps"

Nasmedia Publishes 2023 Outlook Report
Chooses 'Shift' as Next Year's Digital Media Market Keyword

[Asia Economy Reporter Cha Min-young] Nasmedia, a digital marketing platform company under KT Group, announced on the 22nd that it has selected ‘Shift’ as the core keyword for the digital media market in 2023 and emphasized the need to focus on short-form business and super app strategies.

Nasmedia published a report titled ‘2023 Digital Media and Marketing Trend Outlook’ containing these insights. The report predicted that the advertising market in 2023 will see an expansion of digital influence as advertising and marketing methods are reorganized around digital platforms due to the pandemic that lasted over three years. In particular, the digital advertising market is blossoming with the online video service (OTT) advertising market led by Netflix, raising expectations for premium inventory and customized advertisements. It also forecasted that digital advertising transformation will accelerate as channel entry ads and programmatic ads are introduced in traditional media such as TV and outdoor advertising.

The marketing trends to watch in 2023 were identified as ▲short-form business ▲super app strategy ▲community economy ▲retailtainment. As short-form consumption behavior increases, related business opportunities are also expected to grow. According to an Embrain survey, 76% of respondents reported having experience watching short-form content, indicating that short-form consumption has become popular across all age groups. The report also anticipated an expansion of short-form distribution channels, increased use of content, and the launch of advertising products.

Next, the report analyzed the trend of vertical apps, which grew during the pandemic, transitioning into super apps. A super app is a portal-type app that integrates various lifestyle services such as messaging, reservations, shopping, finance, and ride-hailing into a single app. Super apps are expected to enhance user convenience and provide personalized services, expanding their offerings while developing advertising businesses using user data, thereby increasing media influence.

The third keyword is the community economy. With the spread of non-face-to-face relationships and changes in the process of forming relationships based on tastes and interests, the report highlighted the expanded influence of communities. It analyzed the community economy evolving based on the metaverse (extended virtual world) and non-fungible tokens (NFTs) as the transition to the Web 3.0 era progresses, noting that business strategies leveraging changes in relationship formation behaviors are increasing.

Finally, the report focused on retailtainment, a spatial marketing method emphasizing fun and rarity. Since the pandemic, offline stores have shifted their role to spaces where consumers communicate with brands, experience them, and discover enjoyment within their purchasing journey. The use of retailtainment, which delivers unique experiences and messages through offline spaces, is expected to be prominent in 2023 as well.

Huh Jin-young, Director of Media Strategy at Nasmedia, said, “2023 is expected to be a year of rapid transition to a new business ecosystem that can satisfy users’ changed needs and provide innovative experiences based on the digital capabilities accumulated during the pandemic.”