The Value Added of Audiovisual and Broadcasting in South Korea displayed a consistent upward trajectory from 2015 to 2023, reaching a value of 7.9929 trillion South Korean Wons in 2023. The growth rate varied, with notable increases such as 5.33% in 2016 and 4.79% in 2018. The past five years showed an average annual growth rate (CAGR) of 0.56%, with year-on-year variations cooling down to around 0.59% in the last couple of years.
Looking at future trends, the industry is expected to continue its growth path, albeit at a modest pace with a forecasted 5-year CAGR of 0.43%, reaching approximately 8.2131 trillion Wons by 2028. Key trends to watch include advancements in streaming technologies, the rise of OTT (Over the Top) platforms, and increased consumption of digital content reshaping traditional broadcasting models.
