While a single Korean drama can capture the hearts of millions worldwide, these staggering numbers reveal the multi-trillion won engine powering the phenomenon, where billion-hour streaming records and double-digit ratings are just the tip of a colossal, culture-driving industry.
Key Takeaways
- In 2022, the total revenue of the South Korean television broadcasting industry was approximately 5.8 trillion KRW, driven primarily by advertising and subscription fees.
- Advertising revenue for Korean terrestrial broadcasters in 2023 amounted to 2.1 trillion KRW, with SBS leading at 780 billion KRW.
- The OTT platform market in Korea, including TV content, grew to 1.9 trillion KRW in 2022, up 15% year-over-year.
- In 2023 Q1, JTBC's average viewership rating for prime-time dramas was 8.5%, highest among cable channels.
- 'The Glory' on Netflix achieved 180.2 million viewing hours globally in its first week of release in 2023.
- tvN's 'Alchemy of Souls' Season 1 averaged 11.4% nationwide ratings in 2022.
- In 2022, South Korea produced 320 new TV dramas, a 10% increase from 2021.
- Average production cost per episode of a Korean drama rose to 500 million KRW in 2023.
- tvN aired 45 original dramas in 2022, capturing 30% of cable market share.
- K-drama exports to Southeast Asia reached 250 billion KRW in 2022.
- Netflix licensed 120 Korean TV series in 2023, boosting Hallyu.
- China imported 50 Korean dramas in 2022 despite restrictions.
- Korean TV industry employed 45,000 people directly in 2022.
- Number of TV production companies in Korea exceeded 1,200 in 2023.
- Average salary for drama PDs was 120 million KRW annually in 2022.
Korea's TV industry thrives through robust domestic revenue and massive global export growth.
Employment and Industry Structure
- Korean TV industry employed 45,000 people directly in 2022.
- Number of TV production companies in Korea exceeded 1,200 in 2023.
- Average salary for drama PDs was 120 million KRW annually in 2022.
- Freelance writers in TV industry numbered 3,500 in 2023.
- Women comprised 42% of TV production workforce in 2022.
- Training programs for TV talent graduated 2,000 annually via KOCCA in 2023.
- Unionized workers in broadcasting reached 15,000 in 2022.
- OTT platforms created 10,000 new jobs in content creation 2022-2023.
- Actor agencies managing TV stars numbered 500 with 20,000 talents in 2023.
- Technical staff like VFX artists grew 30% to 5,000 in TV post-production 2022.
- Regional production hubs outside Seoul employed 8,000 in 2023.
- Internships in TV industry offered 1,500 spots yearly in 2022.
- Diversity hires in TV increased 15% targeting multicultural talent 2023.
- Music directors and composers for TV shows: 1,200 active in 2022.
- Broadcasting executives averaged 15 years experience, 55% with overseas training.
- Youth employment rate in TV sector was 28% under 30 years old in 2023.
Employment and Industry Structure Interpretation
Behind the dazzling screen lies a fiercely competitive, data-rich ecosystem where 45,000 directly employed craftspeople, a small army of freelancers, and a 30% surge in VFX artists vie for attention amidst 1,200 production companies, all while OTT platforms spark a 10,000-job gold rush and the industry tentatively, at 42% women and rising diversity hires, grapples with becoming a slightly fairer version of its glamorous self.
Exports and Global Impact
- K-drama exports to Southeast Asia reached 250 billion KRW in 2022.
- Netflix licensed 120 Korean TV series in 2023, boosting Hallyu.
- China imported 50 Korean dramas in 2022 despite restrictions.
- Japan viewed 1.5 billion streams of K-dramas on platforms like AbemaTV in 2022.
- US Netflix top 10 featured Korean TV shows 25 weeks in 2023.
- Thai remakes of Korean dramas numbered 15 in 2022.
- Global K-drama merchandise sales hit 100 billion KRW in 2022.
- Vietnam's VTV broadcast 30 Korean series in prime time 2023.
- Indonesian streaming apps had 40% K-content in top charts 2022.
- Europe saw 200% growth in K-drama viewership on Rakuten Viki 2023.
- Turkey remade 8 Korean dramas like 'King: Eternal Monarch' in 2022.
- Latin America's K-drama fans numbered 50 million in 2023 surveys.
- Middle East Netflix subs watched 500 million hours of K-TV in 2022.
- India’s Disney+ Hotstar streamed 20 Korean shows to 30 million viewers 2023.
- Africa’s growing K-pop/K-drama fandom led to 10 local broadcasts in 2022.
- Overseas K-drama festivals held in 25 cities worldwide in 2023.
- Total Hallyu content exports including TV reached 12.5 billion USD in 2022.
Exports and Global Impact Interpretation
The Korean drama industry has not so quietly conquered the world, proving that a compelling story, whether streamed, remade, or merchandised, is the one global export everyone is happy to binge.
Market Size and Revenue
- In 2022, the total revenue of the South Korean television broadcasting industry was approximately 5.8 trillion KRW, driven primarily by advertising and subscription fees.
- Advertising revenue for Korean terrestrial broadcasters in 2023 amounted to 2.1 trillion KRW, with SBS leading at 780 billion KRW.
- The OTT platform market in Korea, including TV content, grew to 1.9 trillion KRW in 2022, up 15% year-over-year.
- Cable TV operators in South Korea generated 1.4 trillion KRW in revenue in 2021, accounting for 25% of the total TV market.
- Public broadcaster KBS's total budget in 2023 was 1.02 trillion KRW, with 70% from receiving fees.
- The Korean TV content production market size reached 4.2 trillion KRW in 2022, including dramas and variety shows.
- Subscription fees for pay-TV services in Korea hit 900 billion KRW in 2023, growing 8% annually.
- Terrestrial TV ad spend in Korea was 1.8 trillion KRW in 2022, down 5% due to digital shift.
- Netflix's investment in Korean TV content exceeded 800 billion KRW in 2023.
- Total IP drama exports from Korea generated 128.7 billion USD in overseas sales in 2022.
Market Size and Revenue Interpretation
While the old guard of terrestrial TV carefully counts its slightly dwindling advertising won, a voracious new ecosystem of production, OTT platforms, and global exports is busy building a far more lucrative kingdom where the real crown is worn by content itself.
Production and Content
- In 2022, South Korea produced 320 new TV dramas, a 10% increase from 2021.
- Average production cost per episode of a Korean drama rose to 500 million KRW in 2023.
- tvN aired 45 original dramas in 2022, capturing 30% of cable market share.
- Number of variety shows produced by major broadcasters reached 150 in 2023.
- K-dramas featured 1,200 episodes of historical sageuk content from 2018-2022.
- OTT originals in Korea numbered 180 in 2022, up 25% from prior year.
- SBS invested 300 billion KRW in drama production in 2023.
- 70% of Korean TV dramas in 2023 were 16-episode series format.
- Number of female-led K-dramas increased to 40% of total productions in 2022.
- MBC produced 28 mini-series dramas in 2023, focusing on medical genres.
- Animation TV content production in Korea hit 120 hours in 2022.
- 85% of K-dramas used Seoul as primary filming location in 2023.
- JTBC's content library expanded to 5,000 hours of TV programming in 2022.
- Sports broadcasting hours on Korean TV totaled 2,500 hours in 2023 Olympics coverage.
- Reality TV shows grew by 15% to 90 titles in 2022.
- Digital remastering applied to 60% of classic K-dramas for OTT in 2023.
- Average script development time for top dramas was 12 months in 2022.
- Korean TV exported 450 titles to 120 countries in 2022.
Production and Content Interpretation
It seems South Korea's television industry, in a relentless pursuit of global domination, has decided that the only thing more dramatic than its 320 new annual dramas is their skyrocketing 500-million-KRW-per-episode price tag, all while remastering its classics and flooding every screen from Seoul to your living room with everything from sageuk sagas to medical mini-series.
Viewership and Ratings
- In 2023 Q1, JTBC's average viewership rating for prime-time dramas was 8.5%, highest among cable channels.
- 'The Glory' on Netflix achieved 180.2 million viewing hours globally in its first week of release in 2023.
- tvN's 'Alchemy of Souls' Season 1 averaged 11.4% nationwide ratings in 2022.
- KBS2's 'The King: Eternal Monarch' peaked at 14.7% ratings in 2020.
- SBS's 'Penthouse' series averaged 28.8% ratings across seasons in 2020-2021.
- MBC's 'Doctor Cha' reached a peak of 18.2% ratings in May 2023.
- In 2022, the average prime-time drama rating on terrestrial TV was 7.2%.
- Netflix Korea's top show 'Squid Game' garnered 1.65 billion viewing hours worldwide in 28 days.
- JTBC's 'Reborn Rich' finale hit 26.94% ratings in December 2022.
- ENA's 'Strange Lawyer Woo Young-woo' averaged 9.5% ratings in 2022.
- In 2023, Korean dramas on Netflix had 40% of top 10 non-English slots weekly.
- tvN dramas averaged 8.7% ratings in 2023, leading cable networks.
- KBS1 news averaged 25.3% ratings in morning slots in 2022.
- Variety show 'Running Man' on SBS maintained 5-7% ratings consistently in 2023.
- Disney+ Korea's 'Moving' achieved 90 million viewing hours in first month of 2023.
- Terrestrial TV viewership share dropped to 45% in 2022 from 60% in 2018.
- In 2023, 65% of Korean households subscribed to at least one OTT service for TV content.
- Prime-time slot (8-10 PM) on Korean TV averaged 12 million viewers daily in 2022.
- Women aged 20-49 made up 55% of drama viewership demographics in 2023.
- Overseas Korean drama streaming views exceeded 10 billion hours on global platforms in 2022.
Viewership and Ratings Interpretation
Korean cable dramas may win the ratings battle at home, but Netflix's global streaming hours prove that revenge, childhood trauma, and survival games are truly the world's favorite Korean exports.
Sources & References
- Reference 1STATISTAstatista.comVisit source
- Reference 2KOFICEkofice.or.krVisit source
- Reference 3KOCCAkocca.krVisit source
- Reference 4NIELSENnielsen.comVisit source
- Reference 5KBSkbs.co.krVisit source
- Reference 6PWCpwc.comVisit source
- Reference 7KCAkca.krVisit source
- Reference 8EMARKETERemarketer.comVisit source
- Reference 9VARIETYvariety.comVisit source
- Reference 10ENen.kocca.krVisit source
- Reference 11NIELSENKOREAnielsenkorea.co.krVisit source
- Reference 12NETFLIXnetflix.comVisit source
- Reference 13NAMUnamu.wikiVisit source
- Reference 14ENen.wikipedia.orgVisit source
- Reference 15ALLKPOPallkpop.comVisit source
- Reference 16ABOUTabout.netflix.comVisit source
- Reference 17SOOMPIsoompi.comVisit source
- Reference 18HANKOOKILBOhankookilbo.comVisit source
- Reference 19DISNEYPLUSdisneyplus.comVisit source
- Reference 20TVNtvn.co.krVisit source
- Reference 21SBSsbs.co.krVisit source
- Reference 22IMBCimbc.comVisit source
- Reference 23KOBIAkobia.netVisit source
- Reference 24JTBCjtbc.co.krVisit source
- Reference 25HOLLYWOODREPORTERhollywoodreporter.comVisit source
- Reference 26ORICONoricon.co.jpVisit source
- Reference 27THAIPBSWORLDthaipbsworld.comVisit source
- Reference 28ENen.vietnamplus.vnVisit source
- Reference 29RAKUTENVIKIrakutenviki.comVisit source
- Reference 30DAILYSABAHdailysabah.comVisit source
- Reference 31EXCHANGE4MEDIAexchange4media.comVisit source
- Reference 32KWMAkwma.or.krVisit source
- Reference 33KOREABROADCASTUNIONkoreabroadcastunion.orgVisit source
- Reference 34KSTARAGENCYkstaragency.comVisit source
- Reference 35KMCAkmca.or.krVisit source
- Reference 36KOMCAkomca.or.krVisit source