Spotify and Netflix See Surging User Growth Driven by "K-Content Boost"

Spotify Records 2.04 Million Users in February
Nearly 300,000 Increase After Naver Partnership
Netflix Sees Boost from Exclusive BTS Comeback Concert Livestream

Amid the global spread of K-content, international online video services (OTT) and music streaming platforms are solidifying their dominance in the domestic market by strengthening partnerships with local companies, leaving little room for homegrown platforms to survive.

According to mobile index data from IGAWorks on March 30, Spotify, the world's largest music streaming platform, recorded approximately 2.04 million monthly active users (MAU) in February. This represents an increase of about 300,000 users compared to September last year (approximately 1.69 million), just six months prior. Although Spotify currently ranks fourth in terms of MAU, the sharp increase is notable as user numbers for existing platforms like Melon and Genie Music have remained relatively unchanged. Spotify's growth is therefore posing a significant threat to the domestic industry. The music streaming market is already saturated, and the strong lock-in effect means that users are unlikely to switch platforms once they have subscribed.

The group BTS held a free comeback performance titled 'BTS Comeback Live: Arirang' (BTSTHECOMEBACKLIVE｜ARIRANG) on the 21st at Gwanghwamun Square in Seoul. BTS members RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook are performing. March 21, 2026. Photo by Joint Press Corps

Spotify entered the Korean market in 2021 and initially struggled to gain ground against established platforms. However, its partnership with Naver, established in December last year, is now proving effective. Naver offers Spotify's "Premium Basic" plan (worth KRW 8,690 per month) free of charge to Naver Plus Membership subscribers. After the partnership launched in December last year, Spotify's monthly user count rose by approximately 220,000.

YouTube Music, another music streaming platform, maintains its top position in the domestic market thanks to the advantage that its ad-free YouTube Premium subscription allows access to both YouTube and YouTube Music. As foreign capital-backed services dominate, homegrown music platforms are losing their foothold. For example, NHN is seeking to sell its music platform subsidiary NHN Bugs, while SK Square is reducing its stake in Dreamus Company, the operator of Flo.

The domestic OTT market is also dominated by Netflix, which is leveraging K-content to solidify its lead. In February, Netflix recorded 15,267,129 monthly active users, nearing the 16 million mark. This is double the number of Coupang Play, which ranked second during the same period with about 8.32 million users. The gap with homegrown OTT platforms such as Tving (7.33 million users) and Wavve (3.75 million users) is widening further.

Netflix has expanded its competitive edge by investing in K-content such as K-Pop Demon Hunters, the Squid Game series, and Black-and-White Chef, and began generating additional synergy through a membership partnership with Naver starting in November 2024. This month, Netflix's user numbers are expected to rise even further due to the comeback of BTS. This follows the exclusive live streaming of "BTS Comeback Live: Arirang (ARIRANG)" at Gwanghwamun in Seoul on March 21. On the day of the concert, Netflix's daily active users (DAU) in Korea surged to about 5.78 million, an increase of more than 50% compared to the previous day (about 3.69 million).

This content was produced with the assistance of AI translation services.