Changing Platform: Mobile Web Content Market Shows Sharp Growth | BusinessKorea

Friday, September 22, 2017

31 October 2014 - 4:50pm

According to industry sources on Oct. 29, the mobile platform is emerging as a new content distribution channel, replacing traditional content distribution platforms.

Videos are receiving a lot of attention on the Internet these days. Local portal operators and video service providers like Pandora TV and Africa TV, as well as foreign platforms like YouTube, are involved in this area. In the past, Internet service providers merely provided video content made by terrestrial broadcasting companies and cable companies or videos created by ordinary people. However, those Internet service providers are now making mobile content themselves.

Portal operators like Naver and Daum Kakao have pioneered a new genre named “web dramas,” distributing related content. Naver is planning to provide 20 web dramas this year. Pandora TV is working to make content for UHD broadcasting and mobile both.

Web novels are also drawing a lot of attention in the era of mobile. Since its establishment as a web novel site in 2000, Joara.com has seen dozens of web fiction stories out of its 150,000 available with more than 10 million views. In particular, after the introduction of customized services for a mobile platform, mobile devices are used for access in most cases, as shown by the fact that the ratio of access using mobile devices and PCs has changed into 8:2.

With the mobile content market stabilizing, Naver and Daum Kakao began to provide the web novel service last year. The number of new related venture firms such as Munpia and BookPal has increased rapidly as well. The industry estimates that the size of the local web novel market will increase from less than 10 billion won (US$9.3 million) in 2013 to 20 billion won (US$18.9 million) in 2014. The market is expected to grow faster next year.

An advance in LTE technology has contributed to the growing popularity of video content like web dramas, since the method can transmit content without buffering. The appearance of an unlimited data plan has also created an environment in which people can enjoy content using smartphones. Snack culture, the habit of quickly and conveniently enjoying content in a short period of time like eating snacks, has recently emerged as a trend in culture consumption. It has also contributed to the popularity of video content. As an increasing number of people want to access whatever content they want in an easier and faster manner via smartphones in their spare time, there is more demand for mobile content.

Experts are saying that mobile content such as webtoons, web novels, and web dramas are rapidly developing in the nation. Foreign business operators have just started to provide this type of mobile content service. Therefore, local companies could compete in the global content market if they gain enough experience. Naver recently started to cultivate new overseas webtoon markets based on its mobile messaging platform LINE.

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