Synopsis
As of January 29, 2024, major South Korean digital platforms are ramping up their short-form video initiatives to align with the global trend favoring quick, digestible content. Naver Corp., Kakao Corp., and Tving are among the key players investing in this space.Key Takeaways
- Short-form video consumption is on the rise.
- Naver Corp. enlisted 5,000 content creators.
- AI tools will support creators.
- Kakao Corp. to introduce a dedicated video tab.
- Tving is launching short-form dramas.
Seoul, Jan 29 (NationPress) Prominent platform operators in South Korea are intensifying efforts to enhance their short-form video offerings, driven by the rising global trend for content that is swift and easily digestible.
Earlier this month, the largest internet portal in the country, Naver Corp., enlisted 5,000 content creators for its short-form platform known as Clip, as reported by its officials and the Yonhap news agency.
The Korean firm is also set to equip its content creators with virtual production technologies and artificial intelligence (AI) tools, enabling them to gain a competitive advantage over creators on rival platforms.
As per the officials, the monthly average views on Naver Clip skyrocketed tenfold by the end of 2024 compared to the previous year, with the production capacity of short-form videos increasing fivefold in the same timeframe.
Kakao Corp., which operates the search engine Daum, has also announced plans to introduce a section dedicated to short-form videos on its website.
Additionally, Tving, a local over-the-top (OTT) platform, launched a new short-form tab on its app last month and aims to produce short-form dramas and entertainment series, according to the report.
Global giants like YouTube, Instagram, Facebook, and TikTok have already seen significant success with short-form content in recent years.
Data from the Korea Communications Commission indicates that short-form content is the most consumed type among smartphone users in the country, with nearly 42 percent engaging with short-form videos at least five times a week.
Following closely, OTT content ranks second, with 39.4 percent of smartphone users watching it almost daily, while real-time video streaming services are at 26.2 percent, as reported.
