Korean OTT Landscape: A study of contemporary trends and market dynamics in OTT’s In South Korea

Abstract

The Korean entertainment industry popularly recognized by Korean Wave, the global recognition and popularity of Korean music, films and dramas, has redefined itself in dominating the OTT landscape. This study aims to explore the market dynamics in the domestic and global OTT landscape in South Korea, and to investigate the cultural significance of the Korean Wave. Drawing from the existing resources and case study approach, this study will understand the multifaceted phenomenon of the platformization of Korean content in the OTT landscape. The insights from the study concluded that advanced digital infrastructure, international collaboration and global demand have consolidated the growth of the OTT market in South Korea. Moreover, it found that platforms are leveraging the distinctive Korean Wave characterized by Korean cultural elements and compelling narrativity in the production and distribution of Korean content in streaming environments, leading to a seismic shift in the Korean cultural industry.