South Korean Market is Major Contributor to YouTube’s Global Growth

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Generated $15.1 billion just from advertising

Google announced revenue data for its video streaming site YouTube. It is the first time that the revenue data is shared by Google for YouTube. The no.1 video streaming site generated $15.1 billion for the year 2019 for advertising. YouTube recorded a 31% growth rate over the years, these are some astonishing numbers but the company wants more. YouTube has around 2 billion users across the globe which makes the video streaming site one of the most popular brands of the world.

One of the major contributors to YouTube’s success in South Korea. Over the years it faced stiff competition from the local video players and its growth in the country was sluggish. In recent years the story has changed a little bit as it was able to concentrate and serve the market well its penetrative strategies. Data published by Wiseapp, an app for revenue data service in South Korea shows companies tremendous growth in the country.

A steep rise in user base in South Korea

The video streaming platform saw a steep rise over the years among the older demographic. The data collected from android users shows the persistent growth of users for the Korean Market. According to the Wiseapp, in 2019 the number of total users reached around 34 million. It was 6% more than in 2018 and 38% more than in 2016.

South Korea is a country of proud 51.5 million people and around 80% of them use Android devices. This helps Google to penetrate its strategies much easier in the market. The continuous content improvement has helped the company to increase its viewer base since 2016. The company is an official statement said, “There are over 12,000 channels with over 10,000 subs, over 2,000 channels with 1, 00,000 subs and around 200 channels with 1 million subs in Korea.”

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West has been driving the business world owing to its developed economies. The leading part of the world is straining to sustain its dominance. However, the other parts of the world, especially Asia Pacific region have been displaying escalating growth in terms of business and technological advancements.

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