The United States now generates 39% of global media and entertainment revenues and is emerging as a key growth engine for Korean FAST channels, according to new analysis from Omdia presented at KFAST New York.
Out of a worldwide M&E market worth $1.1 trillion, the US accounts for $430 billion, and remains dominant in streaming, driving 53% of global SVOD revenues ($181 billion), 80% of the FAST market ($6 billion) and 70% of connected TV advertising ($48 billion). At the same time, Korean content has become the most popular non-English programming globally, with Korean titles regularly entering Netflix’s Top 10 lists.
Speaking at the event, organised by Korea’s Ministry of Science and ICT and KAIT, Omdia’s Head of Media & Entertainment Maria Rúa Aguete said the combination of the world’s largest FAST market and the global appeal of Korean content represented a “multi-billion-dollar opportunity”. Platforms are increasingly seeking premium, high-engagement IP, and Korean FAST channels are seen as well placed to capitalise on strong audience demand and viewing momentum in the US.
With the US continuing to drive FAST growth and Korea at the forefront of international content trends, Omdia argues that the conditions for expanding Korean FAST channels in the American market “have never been stronger”.
