March Netflix Payment Amount by Koreans 36.2 Billion Won... Record High

Over 10 Times Increase in 2 Years... More Than Half Are in Their 20s and 30s

[Asia Economy Reporter Jin-gyu Lee] In March, the amount paid by Koreans for Netflix subscriptions reached a record high of 36.2 billion KRW.

App and retail analytics services WiseApp and WiseRetail announced on the 28th the estimated payment amount by Koreans for Netflix. A sample survey of payments made by Koreans using credit and debit cards on Netflix last month revealed a record amount of 36.2 billion KRW.

Last month, the monthly payment amount for Netflix by Koreans was 36.2 billion KRW, with 2.72 million paid users. Considering that in March 2018, Netflix payments were 3.4 billion KRW and paid users numbered 260,000, this represents more than a tenfold increase in two years.

As of last month, the average monthly payment per Netflix paid user in Korea was 13,287 KRW. Among all paid users, those in their 20s accounted for 39%, 30s for 25%, 40s for 18%, and those aged 50 and above for 18%.

In Korea, Netflix payments are made not only via card payments but also through telecom providers like LG Uplus, which consolidate charges, or via app stores such as iTunes. Including these customers, the number of paid Netflix users and total payment amounts in Korea are expected to be even higher.

Meanwhile, a survey on smartphone usage by Koreans showed that Netflix users have been increasing monthly. Based on Android smartphones, the number of people who used the Netflix application at least once last month reached a record high of 4.63 million.

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