Membership Price Increase in August
Tottenham-Munich Dream Match Confirmed
Expecting Member Recruitment and Lock-in Effects
Coupang is strengthening its Wow Membership benefits by securing a match between Tottenham Hotspur from England, the team of Son Heung-min, and Bayern Munich from Germany, the team of Kim Min-jae. This is interpreted as a strategy to prevent members from leaving Coupang by hosting a major sports event timed with the upcoming price increase of the Wow Membership in August.
According to industry sources on the 21st, Coupang's online video streaming service (OTT) provider Coupang Play announced the day before that Tottenham Hotspur, where Son Heung-min plays, will participate in the '2024 Coupang Play Series.' The Coupang Play Series is a sports event for Coupang Wow Membership subscribers, held every summer.
Previously, Coupang Play announced Bayern Munich from the German Bundesliga, the team of Kim Min-jae, as the first invited team for the 2024 Coupang Play Series. Coupang explained, "With Bayern Munich followed by Tottenham's visit to Korea, a big match between two of Europe's top prestigious clubs, where Kim Min-jae and Son Heung-min respectively play, has been arranged."
Captain of the South Korean national football team Son Heung-min (right) and key defender Kim Min-jae. [Image source=Yonhap News]
The Coupang Play Series started in 2022 and is now in its third year. It is hosted, organized, and broadcast by Coupang Play, and only Wow Membership members can watch the matches. The match between Tottenham and Bayern Munich will be held on August 3rd. Since this is the first time Coupang will apply the increased fee (7,890 KRW) to existing Wow Membership members, the showdown between Son Heung-min and Kim Min-jae is expected to be a key content to capture the '탈쿠팡족' (those leaving Coupang) audience.
So far, Coupang has seen a strong 'lock-in effect' on customers by continuously hosting major sports events. In the first year of the Coupang Play Series in 2022, they invited Tottenham, where Son Heung-min plays, and organized friendly matches against Team K League and Sevilla FC. The following year, they successfully hosted matches featuring English Premier League's Manchester City (Man City) and Spanish prestigious club Atl?tico Madrid visiting Korea. During this period, the number of Coupang Wow Membership subscribers increased by more than 2 million annually, with these sports events playing a significant role.
Sports events hosted by Coupang Play have consistently enjoyed better-than-expected results due to various favorable factors. Last year, after Manchester City was confirmed as an invitee for the Coupang Play Series, they achieved the treble (winning three major trophies). Earlier this year, in the MLB Seoul Series promoted by Coupang Play, the LA Dodgers announced the acquisition of superstar Shohei Ohtani ahead of their visit to Korea. Furthermore, Ohtani announced his marriage just before the Seoul Series and visited Korea with his spouse, resulting in a huge success for Coupang.
Coupang expects the upcoming match between Tottenham and Bayern Munich to similarly attract new members while reinforcing the lock-in effect for existing members. This is the first time that Son Heung-min and Kim Min-jae, who have worked closely together as the front and back of the national team, will face each other wearing their club uniforms. However, rumors of Kim Min-jae's transfer from Germany have surfaced, so it remains to be seen whether this showdown will actually take place.
Meanwhile, Coupang Play is an OTT service available for free to Coupang Wow Membership members. The Coupang Wow Membership offers five benefits: free shipping, delivery, direct purchase, free returns, and free OTT access. It is regarded as highly cost-effective among existing memberships because it provides benefits ranging from shopping to entertainment and food delivery under a single membership.
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