2020 South Korea Media Landscape Highlights

[This is originally published on PR Newswire Blog: https://en.prnasia.com/blog/2021/2/2020-south-korea-media-landscape-highlights/]

Overview

The COVID-19 outbreak has left a significant impact on almost every industry and the Korean media industry was no exception. According to a 2020 Media Report by Korea Press Foundation, 84.2% of newspaper and magazine businesses said they are experiencing a state of financial crisis. The situation is even more dire for daily and weekly newspapers and they have been suffering a dramatic dip in advertising revenue from last year.

2020 Key Developments

  • Viewership on traditional media like print and radio has been on the decline for years, and COVID-19 has certainly expedited this process. However, TV viewership increased last year. Lockdown measures have brought about a surge in the number of television views. Video-on-Demand streaming services have seen a major spike in viewership, while live television programmes also became more popular due to the constant demand for up-to-date news.
  • In response to the prevalence of cyberbullying and concerns about the mental well-being of celebrities, Naver, South Kore’s top web portal service operator, decided to remove the comment feature in its entertainment news section.
  • In order to deliver more targeted and relevant news, Naver customized the “Most-viewed news articles” list on its mobile app to the preferences of its users. Previously, the list was standardized to all users. Naver has adopted an artificial intelligence algorithm to select the types of news articles that are shown to users.

2021 Outlook

Media outlets in South Korea are experiencing a decline in newspaper circulation and are struggling to develop new revenue streams. An emerging solution that will be much talked-about this year will be the introduction of paid content services.

Media & PR professional in South Korea

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store