Speaking at the International Streaming Festival in Busan, Maria Rua Aguete, Senior Director at Omdia, shared exclusive research projecting that the country will become the 12th largest FAST market worldwide by 2030, with revenues expected to double from $23 million in 2024 to $48 million.
“Korean content has never been stronger – on FAST and subscription services – and Netflix has been the biggest amplifier of that story worldwide,” Rua Aguete said. “This popularity in SVOD is now driving the growth of Korean FAST channels globally.”
Since Samsung TV Plus launched in 2015, the FAST market in South Korea has grown at remarkable speed. Local platform Wavve leads the sector, followed by Samsung TV Plus and LG Channels, while LG U+ and Diva (formerly D’Live) are steadily expanding their footprint. Today, FAST is fully mainstream: Samsung TV Plus ranks as the fifth most-watched video service on connected TVs in Korea, with LG Channels securing the 10th position.
This momentum cements South Korea’s position as the third-largest FAST market in Asia Pacific, trailing only Australia and Japan.
The Omdia analysis highlights Netflix’s crucial role in elevating Korean programming to global stardom. The streaming giant boasts more than 8,000 Korean titles in its South Korean library – more than Amazon, Apple TV+, and Disney+ combined. Squid Game remains Netflix’s most-watched show ever, with 1.65 billion viewing hours, while K-pop-inspired productions such as K-Pop Demon Hunters are breaking international records.
“K-pop continues to dominate on Spotify and TikTok, expanding its reach to younger audiences,” Rua Aguete noted. “Netflix is the global ambassador for K-content. As we saw with Spain’s Money Heist, when one streamer leads, others follow – and that ripple effect directly benefits FAST.”
The Korean government is also betting big on FAST. Under its K-OTT Industry Global Competitiveness Strengthening Strategy, it has pledged ₩1 trillion ($720 million) to support domestic OTT services, including FAST platforms. Additionally, the Ministry of Science and ICT, in collaboration with the Korea Association for ICT Promotion, has launched the Global K-FAST Alliance to boost the presence of Korean FAST channels internationally.
“The government sees FAST as the next chapter of the Korean Wave,” Rua Aguete concluded. “Korea now has the perfect storm: a thriving presence in both pay and free TV markets, bolstered by global demand and strong local investment.”
“Korean content has never been stronger – on FAST and subscription services – and Netflix has been the biggest amplifier of that story worldwide,” Rua Aguete said. “This popularity in SVOD is now driving the growth of Korean FAST channels globally.”
Since Samsung TV Plus launched in 2015, the FAST market in South Korea has grown at remarkable speed. Local platform Wavve leads the sector, followed by Samsung TV Plus and LG Channels, while LG U+ and Diva (formerly D’Live) are steadily expanding their footprint. Today, FAST is fully mainstream: Samsung TV Plus ranks as the fifth most-watched video service on connected TVs in Korea, with LG Channels securing the 10th position.
This momentum cements South Korea’s position as the third-largest FAST market in Asia Pacific, trailing only Australia and Japan.
The Omdia analysis highlights Netflix’s crucial role in elevating Korean programming to global stardom. The streaming giant boasts more than 8,000 Korean titles in its South Korean library – more than Amazon, Apple TV+, and Disney+ combined. Squid Game remains Netflix’s most-watched show ever, with 1.65 billion viewing hours, while K-pop-inspired productions such as K-Pop Demon Hunters are breaking international records.
“K-pop continues to dominate on Spotify and TikTok, expanding its reach to younger audiences,” Rua Aguete noted. “Netflix is the global ambassador for K-content. As we saw with Spain’s Money Heist, when one streamer leads, others follow – and that ripple effect directly benefits FAST.”
The Korean government is also betting big on FAST. Under its K-OTT Industry Global Competitiveness Strengthening Strategy, it has pledged ₩1 trillion ($720 million) to support domestic OTT services, including FAST platforms. Additionally, the Ministry of Science and ICT, in collaboration with the Korea Association for ICT Promotion, has launched the Global K-FAST Alliance to boost the presence of Korean FAST channels internationally.
“The government sees FAST as the next chapter of the Korean Wave,” Rua Aguete concluded. “Korea now has the perfect storm: a thriving presence in both pay and free TV markets, bolstered by global demand and strong local investment.”
