BC Card "Middle-aged and Older Adults Addicted to OTT... Annual Growth Rate of 60%"

Sales and Customer Numbers Both Soar
MZ Generation Growth Rate More Than Doubles

The use of online video streaming services (OTT) among middle-aged and older adults has steadily grown by an average of 60% annually since 2019. The proportion of middle-aged and older customers, excluding the MZ (Millennial + Z) generation, accounts for nearly half of the OTT service paying customers.

On the 19th, BC Card's New Finance Research Institute announced that it analyzed sales data generated from OTT, movie theaters, and performance venues from 2019 (January to May) to 2023 (January to May) to reach these results.

According to BC Card, OTT users increased by 299% over the past five years. Last year, the number rose by 346% compared to 2019. Since then, with the easing of quarantine policies this year, visits to offline cultural facilities such as movie theaters have increased, causing the growth rate to slightly slow down.

The main user group of OTT services, which had grown for several years due to the impact of COVID-19, is also showing changes. In particular, the proportion of middle-aged and older customers, excluding the MZ generation, has significantly increased?from 28% in 2019 to 45% this year. Conversely, the MZ customer share, which accounted for 72%, has decreased to 55% this year.

Sales from middle-aged and older adults have also risen sharply. Compared to 2019, sales from this group increased 7.7 times, greatly surpassing the MZ generation's sales growth rate of 3.7 times during the same period.

Meanwhile, the number of customers visiting movie theaters and performance venues, industries classified as major victims of COVID-19, is recovering to pre-pandemic 2019 levels. According to BC Card, starting from 2021, the number of movie theater visitors has increased by 63% annually, and visitors to performance venues have also grown by 20% each year.

Kim Yong-il, Executive Director of BC Card, said, "We are conducting data analysis to proactively identify consumption flows and customer demands occurring in various areas," adding, "We will do our best to support the revitalization of the domestic economy based on precise data-driven marketing."