Bitcoin
Hyundai Card introduces 5 trends shaping the way Koreans consume digital content
Ranging from K-pop sensation BTS and Oscar-winning “Parasite”, Korean pop culture appears to be having its moment. Combined with ultrafast internet and 5G-powered smartphones, the growing popularity of Korean movie and music has led to an expansion in the country’s digital content consumption.
Korea’s major credit card company Hyundai Card has introduced 5 key trends shaping Koreans’ spending habits on digital content. The result is based on the company’s 2017-2019 analysis of its consumer transaction data at 10 digital subscription service providers such as Netflix and YouTube Premium.
The three-year analysis was a part of the efforts to better understand Korean digital content subscribers by Hyundai Card, which has been leading the country’s credit card trends with products tailored to customers’ lifestyle and extensive digital transformation initiatives. It has developed an artificial intelligence-based chatbot, adopted blockchain for its system and built an advanced algorithm to offer more personalized customer services and benefits.
For more information about this report visit http://newsroom.hcs.com/front/board/Spending-on-video-streaming-services-grows
1. Korea’s digital content market grows much faster than global trends
According to Hyundai Card’s analysis, its consumers spent some $30.83 million on music, video and e-book subscription services in 2019. It was about 2.6 times more than what was spent in 2017. The number of transactions has tripled over the same period from 2.36 million to 7.11 million.
While Korea is not the only country to witness the expansion of the digital content market, its growth pace has been much faster than global trends. According to Statista, digital content market (excluding games) edged up 1.13 times from $65.46 billion to $73.99 billion between 2017 and 2019, relatively slower than in Korea.
2. Video streaming services prompt explosive consumption in digital content
Among digital content subscription services, video streaming displayed the steepest growth in content consumption. Payments on video streaming services skyrocketed nine times from $2.05 million in 2017 to $17.92 million in 2019, while spending on music steaming services increased merely 1.3 times between 2017 and 2019.
The explosive growth of video streaming consumption was reflected in the transaction amount. Among the five most paid-for services in 2017, three were home-grown music streaming services such as Melon, Genie Music and Bugs Music. But in 2019, Netflix and local video streaming services like Wavve and TVING took up three spots.
3. No more piracy: Koreans more willing to pay for digital content than ever before
Psychological barriers had been high in Korea for consumption of paid content. People were mostly reluctant to pay for video-on-demand services and were used to downloading pirated films over the internet. Consuming paid digital content was deemed to belong only to tech-savvy young generation.
But this perception has changed. According to Hyundai Card’s joint survey with research agency OPENSURVEY, 92.7 percent of the respondents said they have a positive view about spending money on digital content. Of those surveyed, 37.4 percent said their perception has shifted from negative to positive.
4. In a rapidly aging society, the Korean elderly emerge as key consumer group
As Korea becomes a more aged society, the elderly have also increased their spending on digital content. Spending on digital content by those in their 50s and those aged 60 or more tripled from $1.2 million in 2017 to $3.5 million won in 2019, while spending by those in their 20s saw a two-fold increase between 2017 and 2019.
Noteworthy is the fact that people in their 60s were the most active users of e-book subscriptions. They spent 21 times more on e-books in 2019 than in 2017. Fifty-somethings spent 10 times more on video services over the same period.
5. Credit cards for streaming subscription gain popularity among Koreans
With digital entertainment options becoming more diversified, Korea has seen a series of credit cards targeting digital content subscribers. Hyundai Card also rolled out a new credit card “DIGITAL LOVER,” offering an approximately $8 discount monthly from expenditure on digital streaming services such as Netflix and YouTube Premium.
“Against the backdrop of recent surge in digital content subscriptions propelled by the popularity of video streaming services,” said a Hyundai Card spokesperson. “We took into account changes in consumer spending trend and life style when designing the card, not conventional elements such as their occupation or income. That led to upbeat response from customers.”
Photo Source: pacificbitcoin.com
LQWD Technologies (TSXV: LQWD) (OTC: LQWDF) a front-runner in Bitcoin Lightning Network solutions, is pleased to announce its participation in the Pacific Bitcoin Conference 2023. This premier event is scheduled to take place in Santa Monica, CA, on October 5-6.
Representing LQWD Technologies at the conference will be CEO Shone Anstey, who will be hosting a dedicated booth.
The Pacific Bitcoin Conference serves as a nexus for knowledge exchange and networking in the realm of Bitcoin and blockchain technologies.
Those interested in attending can find more information and purchase tickets on the official event website. To arrange a meeting with the LQWD Technologies team, please reach out to [email protected].
Website: www.lqwdtech.com
Twitter: @LQWDTech
This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the Company’s industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE LQWD Technologies Corp.
Leveraging its vast experience since 2017, GoMining is leading the way in bitcoin mining, providing users with an effortless and user-friendly service. Now the company has introduced the so-called North Collection.
The company’s NFT collections provide daily bitcoin rewards to holders, with their substantial fleet of real equipment installed across the globe. Continuing their successful streak after the highly acclaimed East NFT Collection, this latest release marks the next installment in a series of crypto art devoted to various regions. GoMining’s fresh North NFT Collection draws inspiration from three key references: the critical role of low temperatures in mining device operations, the restraint and resilience found in northern regions, and the empowering force driving their endeavors. These references served as the foundation for the collection’s captivating images, reflecting the core principles behind GoMining’s innovative approach to bitcoin mining.
GoMining’s new NFT series is issued on the Binance Smart Chain, utilizing the BEP-20 standard for seamless integration and accessibility. With an impressive energy efficiency rating of 35 W/TH, these NFTs ensure the quickest payback period for holders. Moreover, the NFTs offer a diverse range of computing power options, spanning from 1 to 128 TH/s, accommodating various mining requirements and preferences.
In just over two years, GoMining has achieved remarkable growth. The platform has distributed more than 2,000 BTC to holders, issued 20,000 NFTs, and elevated its overall hash power from 100,000 TH/s to an astounding 2,359,877 TH/s. This exponential progress showcases the project’s resounding success and commitment to innovation in the cryptocurrency and NFT space.
As per GoMining’s CEO Mark Zalan, the company is doing everything to offer a broad variety of options to its holders, proving its sustainability and transparent approach. “We’ve been in operation for over two years providing consistent rewards for our holders daily. All of our efforts are aimed at showing tangible infrastructure behind the product – in this case real equipment with data centers in different regions like Norway.”
GoMining remains dedicated to introducing updated versions of its NFTs, originally crafted to provide easier access to bitcoin mining. All NFT collections, such as the renowned collaboration with MMA star Khabib Nurmagomedov, combine visually stunning designs with real equipment-generated computing power, offering continuous mining rewards to their owners.
The new North collection is available here.
A new study has revealed the cryptocoins Americans want to sell the most, with Bitcoin taking the top spot.
The research was conducted by crypto gambling experts at cryptogambling.tv, who analyzed Google Trends data to establish the cryptocurrencies the US wants to sell the most out of the 24 largest cryptocurrencies by market cap, giving an average weekly search volume for the interest in selling each cryptocoin.
The study revealed that Bitcoin has the highest number of searches from Americans looking to sell this cryptocurrency. Searches to ‘sell bitcoin’ were the highest at the end of July in the United States and worldwide.
Many factors might sway someone to sell their Bitcoin, with the main reason being the current financial and economic strain many countries in the world are facing, prompting people to tap out and cut their losses. Last year the price of the cryptocoin dropped below $16,000, which highlights its downfall tremendously, and with Bitcoin’s value being based purely on speculation, it can be challenging for those who don’t know whether or not to stick with it.
Ethereum is the second cryptocoin Americans want to sell the most, with searches for ‘sell Ethereum’ being the highest in September worldwide. Although the currency is known for owning around 20% of the global crypto market, those wanting to invest tend to agree that it is one of the safest long-term coins. The current price of Ethereum is $1,458, and with the cryptocoin shifting its process from PoW to PoS, it’s predicted its supply may reduce.
XRP is the third cryptocoin Americans want to sell the most, as it is predicted that its price will be near $0.198 by the end of this year. XRP runs by RippleNet and is a low-cost coin which is excellent for those who want to begin investing; however, due to the current lawsuit proceedings with the SEC, there is a significant decrease in interest for the currency, which has undoubtedly urged investors to act fast and sell.
The fourth cryptocoin Americans want to sell the most is Dogecoin, which, although it has remained one of the top cryptocurrencies in the industry, is still not a solid investment for many investors. The coin rose over 15,000% over 2021, and for a cryptocoin which was created as a joke when it first began, it has truly exceeded expectations. Many avoid investing in Dogecoin due to its price volatility, no supply limit, and not being as widely accepted as other competing coins; these are reasons why many also want to sell.
Shiba Inu is the fifth cryptocoin that Americans are looking to sell, and while the coin is top-rated, it is advised that those looking to invest should not use it as a long-term investment. The coin is down almost 92% since 2021, but many investors hope it will still go up in time as it is currently at over 589 trillion.
An expert at cryptogambling.tv commented: “The cryptocurrency market is forever fluctuating, and with the increase in economic stress worldwide, it can be an uncertain and nerve-racking time for those hoping to make sound investments in the crypto world.
“This study offers an interesting insight into which cryptocoins Americans currently want to sell, with Bitcoin being the most popular to sell.”
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