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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] Netflix, the global leader in the OTT market, announced that starting November 26, Naver Plus Membership users can access Netflix's "Standard with Ads" plan at no additional cost.
The "Standard with Ads" plan, typically priced at ₩5,500 per month, offers 1080p Full HD streaming with simultaneous access for two users. While this plan includes advertisements, users can upgrade to higher-tier plans for an extra fee. Considering that Naver Plus Membership costs ₩4,900 monthly, members opting for Netflix enjoy a discounted streaming experience.
Impact on the OTT Market
The inclusion of Netflix in Naver Plus Membership presents a challenge for competing OTT platforms, particularly Tving. Previously, Naver Plus members could choose between Tving or Naver Webtoon/Series subscriptions. Now, with Netflix added as an option, there is potential for a significant user shift from Tving to Netflix.
Tving’s strong performance this year, boosted by exclusive broadcasting rights to the KBO baseball league, concluded with the end of the season in November. Meanwhile, Netflix is poised to capture attention with high-profile releases like Squid Game 2 in December.
Tving’s Countermove
Tving has responded strategically by partnering with Apple TV+ starting December. This collaboration will allow Tving's premium subscribers to access Apple TV+ content, including popular Korean dramas like Pachinko. Additionally, Tving is offering all paying members temporary access to Pachinko Season 1 for two months.
What’s Next?
As Netflix and Tving compete with expanded offerings and strategic partnerships, South Korea's OTT landscape is witnessing a new wave of competition, where content diversity and user experience will likely determine the ultimate winners.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
