While the relentless churn of streaming algorithms might suggest otherwise, South Korea's broadcasting industry remains a multi-trillion won powerhouse, where terrestrial TV still commands massive audiences, K-drama exports fuel a global obsession, and the battle for your screen time is funded by an advertising engine that grew to nearly 3.9 trillion KRW in 2023.
Key Takeaways
- In 2022, the total revenue of the South Korean broadcasting industry reached 5.23 trillion KRW, marking a 2.1% increase from the previous year driven by advertising recovery.
- Advertising revenue in Korean broadcasting accounted for 68.4% of total industry revenue in 2023, totaling 3.89 trillion KRW.
- The public broadcasting sector in Korea generated 1.12 trillion KRW in 2022, representing 21.4% of the market share.
- In 2023, terrestrial TV viewership share was 45.2% of total TV audience in Korea.
- KBS1 prime-time slot averaged 12.5% ratings in 2022 for news programs.
- MBC drama 'The Glory' achieved peak viewership rating of 18.3% nationwide in 2023.
- In 2023, FM radio listenership reached 75% of population aged 12+.
- KBS Radio 1 had 12.3 million weekly listeners in 2022.
- Traffic information radio programs averaged 2.5 million daily listeners in 2023.
- Netflix Korea SVOD subscribers hit 7.5 million in 2023.
- Wavve platform monthly active users reached 6.2 million in 2022.
- Tving streaming service revenue grew 28% to 450 billion KRW in 2023.
- In 2023, 18-34 demographic watched TV 2 hours 15 min daily.
- Females comprised 58% of K-drama prime-time audience in 2022.
- Seoul metro area represented 52% of national TV viewership in 2023.
The Korean broadcasting industry grew steadily in 2022, driven by advertising and popular content exports.
Audience Demographics and Viewership
- In 2023, 18-34 demographic watched TV 2 hours 15 min daily.
- Females comprised 58% of K-drama prime-time audience in 2022.
- Seoul metro area represented 52% of national TV viewership in 2023.
- Households with children under 10 had 4.2 hours daily TV time 2022.
- Males 35-49 dominated sports viewership at 72% in 2023.
- Rural audience share for terrestrial TV was 28% in 2022.
- 50+ age group preferred news at 65% of their viewing time 2023.
- Teens 13-19 spent 1 hour 45 min on TV vs 4 hours online 2022.
- High-income households (>10M KRW/mo) had 55% pay-TV subs 2023.
- Single-person households viewed 3.1 hours TV daily in 2022.
- Weekend binge-watching sessions averaged 5 hours for 20-29s 2023.
- Foreign residents in Korea TV viewership was 15% news-focused 2022.
- University students' TV time dropped 20% YoY to 1.8 hours 2023.
- Mothers with kids watched educational TV 2.5 hours daily 2022.
- Office workers tuned in 1 hour during commute via radio/TV apps 2023.
- LGBTQ+ targeted content audience grew 15% to 1.2 million 2022.
- Disabled viewers used accessibility features on 40% of smart TVs 2023.
- Gamers multitasked TV with 25% overlap in viewing sessions 2022.
- Seasonal viewership spiked 30% for family dramas during Chuseok 2023.
- Low-income group relied on free-to-air TV at 88% penetration 2022.
- 70+ seniors averaged 4.5 hours TV daily, mostly news 2023.
- Couples co-viewed 2.8 hours weekly on average in 2022.
- Students during exam season cut TV by 35% to 1.2 hours 2023.
- Fitness enthusiasts watched health programs 1 hour daily 2022.
- Immigrants from China viewed 45% Chinese-dubbed content 2023.
- Night owls 25-34 peaked TV at 11 PM with 2 million viewers 2022.
- Pet owners tuned into animal shows 20% more than average 2023.
- Remote workers increased daytime TV by 18% to 2.2 hours 2022.
- Fashion-interested females 18-24 watched style channels 1.5 hours daily 2023.
- Military personnel accessed 500,000 hours of AFN Korea content 2022.
Audience Demographics and Viewership Interpretation
Korean television remains the nation's stubborn cultural glue, binding together a demographic mosaic where everyone from Seoul-based drama fans and news-obsessed seniors to binge-watching young adults and multitasking gamers finds their own ritualistic slice of the broadcast pie.
Digital and Streaming
- Netflix Korea SVOD subscribers hit 7.5 million in 2023.
- Wavve platform monthly active users reached 6.2 million in 2022.
- Tving streaming service revenue grew 28% to 450 billion KRW in 2023.
- YouTube viewing time for Korean content was 45 billion hours in 2022.
- Disney+ Korea launched with 1.2 million subscribers in first year 2021-2022.
- Watcha OTT app downloads exceeded 10 million by end of 2023.
- AVOD ad revenue from Rakuten Viki in Korea was 50 billion KRW 2022.
- 5G-enabled streaming users numbered 15 million in 2023.
- Korean dramas on global Netflix accounted for 12% of top 10 in Asia 2022.
- Domestic SVOD market share: Wavve 25%, Tving 22% in 2023.
- Short-form video apps like Reels had 20 million DAU in Korea 2022.
- 8K streaming trials reached 500,000 users via KT in 2023.
- Podcast downloads in Korea totaled 2.5 billion in 2022.
- Live streaming commerce via AfreecaTV generated 1.2 trillion KRW 2023.
- VR content streaming hours grew 150% to 300 million in 2022.
- Multi-device streaming households were 65% in 2023.
- Global K-content on OTT exported to 190 countries in 2022.
- Ad-supported streaming tier adoption was 35% of users in 2023.
- Smart TV OS market: Tizen 42%, webOS 38% in Korea 2022.
- User-generated content platforms had 50 million uploads in 2023.
- Chosun Ilbo digital video views hit 1 billion annually in 2022.
- Gaming live streams averaged 2 million concurrent viewers daily 2023.
- AI-recommended content boosted retention by 22% on local OTT 2022.
- Cross-border streaming data usage was 1.5 TB per user annually 2023.
- TikTok Korea videos views exceeded 500 billion in 2022.
- Interactive streaming features used by 18% of viewers in 2023.
- 65+ age group OTT adoption rose to 42% in 2022.
Digital and Streaming Interpretation
Korea's streaming landscape is a beautifully chaotic symphony where Netflix conducts a global phenomenon, domestic platforms fiercely battle for the remote, and every screen in the nation—from grandmas' smart TVs to teens' endless TikTok scrolls—is perpetually glowing with content being watched, streamed, shopped, and shared at an almost alarmingly impressive volume.
Market Revenue and Economics
- In 2022, the total revenue of the South Korean broadcasting industry reached 5.23 trillion KRW, marking a 2.1% increase from the previous year driven by advertising recovery.
- Advertising revenue in Korean broadcasting accounted for 68.4% of total industry revenue in 2023, totaling 3.89 trillion KRW.
- The public broadcasting sector in Korea generated 1.12 trillion KRW in 2022, representing 21.4% of the market share.
- Terrestrial TV broadcasting revenue grew by 1.8% YoY to 4.1 trillion KRW in 2023 amid digital transition investments.
- Cable TV operators reported a subscriber revenue of 2.34 trillion KRW in 2022, down 0.5% due to cord-cutting trends.
- IPTV services contributed 1.89 trillion KRW to broadcasting revenue in 2023, up 5.2% from 2022.
- The average production cost per hour of Korean TV drama in 2022 was 1.2 billion KRW for major broadcasters.
- Broadcasting industry's export revenue from content hit 12.5 billion USD in 2022, led by K-dramas.
- Government subsidies to public broadcasters amounted to 850 billion KRW in 2023.
- Pay TV market penetration reached 85.3% of households in 2022, generating 3.2 trillion KRW.
- Radio advertising spend in Korea was 180 billion KRW in 2023, stable despite digital shift.
- OTT platform revenues from Korean content licensing reached 450 billion KRW in 2022.
- Total employment in Korean broadcasting industry stood at 45,200 full-time workers in 2023.
- Average salary for broadcasting professionals in Korea was 78 million KRW annually in 2022.
- R&D investment by broadcasters hit 320 billion KRW in 2023, focusing on AI and 8K tech.
- Merger and acquisition deals in broadcasting totaled 150 billion KRW in 2022.
- Consumer spending on premium TV content subscriptions was 1.1 trillion KRW in 2023.
- Tax revenue from broadcasting industry contributed 420 billion KRW to national budget in 2022.
- Infrastructure investment in broadcasting towers and satellites was 250 billion KRW in 2023.
- Profit margin for top 5 Korean broadcasters averaged 8.7% in 2022.
- KBS's annual budget in 2023 was 1.05 trillion KRW, 70% from license fees.
- MBC advertising revenue surged 15% to 650 billion KRW in 2023 post-strikes.
- SBS content export value reached 300 billion KRW in 2022.
- EBS educational broadcasting revenue from partnerships was 120 billion KRW in 2023.
- Cable channel average revenue per channel was 45 billion KRW in 2022.
- Digital rights management fees generated 180 billion KRW for broadcasters in 2023.
- Foreign investment in Korean broadcasting firms totaled 90 billion USD in 2022.
- Streaming ad revenue grew 25% to 220 billion KRW in 2023.
- Total assets of Korean broadcasting corporations were 12.4 trillion KRW in 2022.
- Debt-to-equity ratio in broadcasting industry averaged 45% in 2023.
Market Revenue and Economics Interpretation
Despite a 2.1% industry-wide revenue bump driven by ad money, the story told by the 2022-2023 data is one of a fascinating tug-of-war: public broadcasters hold their ground with license fees and subsidies, cable winces from cord-cutting, IPTV and OTT surge ahead on the back of lavish drama productions, and everyone is desperately investing in R&D and digital rights, all while K-dramas are out there single-handedly bankrolling the national reputation with $12.5 billion in exports.
Radio Sector
- In 2023, FM radio listenership reached 75% of population aged 12+.
- KBS Radio 1 had 12.3 million weekly listeners in 2022.
- Traffic information radio programs averaged 2.5 million daily listeners in 2023.
- Podcast integration boosted radio app users by 30% to 8 million in 2022.
- Music FM stations held 45.2% share of radio airtime in 2023.
- Average daily radio listening time was 1 hour 28 minutes in 2022.
- News radio bulletins aired 1,200 times daily across networks in 2023.
- Car radio usage accounted for 62% of total listening in 2022.
- Youth under 30 listenership dropped to 35% from 45% in 2019 by 2023.
- Regional FM stations covered 95% of rural areas in 2022.
- Talk radio programs occupied 28% of prime-time slots in 2023.
- Digital radio (DAB) adoption was 12% of listeners in urban Seoul 2022.
- Sports radio events drew 4.1 million listeners for World Cup 2022.
- Elderly over 60 comprised 48% of total radio audience in 2023.
- Radio drama productions totaled 450 hours annually in 2022.
- Morning drive-time shows averaged 1.8 million listeners in 2023.
- Foreign language radio services reached 500,000 listeners monthly in 2022.
- Ad spots per hour on commercial radio averaged 8.2 in 2023.
- Internet streaming of radio captured 25% of total listening time 2022.
- Religious radio broadcasts filled 15% of weekend airtime in 2023.
- Community radio stations numbered 150 with 2 million listeners in 2022.
- Late-night radio call-ins had peak 1.2 million concurrent in 2023.
- Classical music radio niche held 8% market share in 2022.
- Emergency alert radio tests reached 99.8% coverage in 2023.
Radio Sector Interpretation
While FM radio remains stubbornly popular, especially with the elderly in their cars, it is desperately trying to woo back fickle youth and modernize by bolting on podcasts and internet streams, proving that the medium is less a fading relic and more a tenacious chameleon clinging to relevance.
Television Sector
- In 2023, terrestrial TV viewership share was 45.2% of total TV audience in Korea.
- KBS1 prime-time slot averaged 12.5% ratings in 2022 for news programs.
- MBC drama 'The Glory' achieved peak viewership rating of 18.3% nationwide in 2023.
- SBS entertainment shows captured 22.1% market share in variety genre in 2022.
- Average daily TV viewing time per person was 3 hours 42 minutes in 2023.
- Cable TV penetration rate stood at 78.6% of households in 2022.
- Top 10 dramas accounted for 35% of total TV drama airtime in 2023.
- News programs held 28.4% of prime-time slots across major networks in 2022.
- JTBC news channel averaged 4.2% ratings during weekdays in 2023.
- TV sports broadcasting viewership peaked at 45% for Olympics coverage in 2022.
- Children under 12 watched TV for 2.1 hours daily on average in 2023.
- Regional broadcasters' share of national audience was 12.3% in 2022.
- HD TV adoption rate reached 98.7% of households by end of 2023.
- Late-night talk shows averaged 7.8% ratings on public channels in 2022.
- Documentary genre occupied 15.2% of total programming hours in 2023.
- Mobile TV viewing via apps grew to 22% of total TV time in 2022.
- Foreign content import for TV was 18.5% of total airtime in 2023.
- Prime-time news viewership for KBS was 15.6 million viewers monthly in 2022.
- Variety show production hours totaled 4,500 per year across networks in 2023.
- UHD 4K broadcasting hours increased 40% to 2,100 hours in 2022.
- Women aged 20-49 dominated 55% of drama viewership in 2023.
- Local news ratings averaged 5.1% in metropolitan areas in 2022.
- Educational TV programs aired 1,200 hours annually on EBS in 2023.
- Reality TV genre viewership share rose to 28% in 2022.
- Satellite TV subscribers numbered 1.2 million in 2023.
- Morning shows captured 9.2% ratings on average in 2022.
- TV reruns filled 22.3% of non-prime time slots in 2023.
- National holiday specials drew 32% average viewership in 2022.
Television Sector Interpretation
Even as mobile apps nibble at their schedule, Korea's terrestrial TV remains a dominant, news-hungry, drama-loving beast, still commanding the nation's living rooms for nearly four hours a day while women in their prime time orchestrate what becomes the next cultural glory.
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