CJ ENM's Tving has emerged as a “major threat” in Korea’s streaming market, local news agency Yonhap said today following the release of Nielsen Korea data showing the platform’s increase in users for 2020. 

The new data was released as Tving rolls out aggressive growth plans, including investing US$363 million in original content over the next three years.

Tving’s monthly active users were up 59% to 2.41 million in 2020 over the previous year. This jump is second only to growth at Netflix, which Nielsen said was up 92% year on year to 6.37 million monthly active users.

Tving also narrowed the lead held by local joint venture platform Wavve, which was up 22% to 3.44 million in 2020.

The two laggards for the year were the telco-operated KT's Seezn and LG Uplus' U+ Mobile TV, both of which dropped users.

Tving is aiming for five million subs by 2023.