The streaming platform market is witnessing dramatic changes as competition heats up between established players and new entrants. A notable shift occurred as Naver's Chijijik surpassed SOOP, traditionally one of the giants of the sector. According to Mobile Index data released on November 27, Chijijik reported 2.42 million monthly active users (MAUs), overtaking SOOP's 2.4 million users. This rapid ascent follows Chijijik's launch earlier this year; it had only 1.3 million users upon its external launch last December.
The growth of Chijijik, driven by Naver's powerful infrastructure, included broadcasting 4.82 million programs and fostering user engagement via integrated services like Naver Pay sponsorship and community connections through Naver Cafe. These strategies have allowed Chijijik to cement itself as a significant player, even securing exclusive broadcasting rights for notable events like the '2024 LoL KeSPA Cup.'
SOOP, which has dedicated 18 years to building its eSports ecosystem, is not sitting idly by. It operates specialized eSports studios and hosts various competitions, achieving peak concurrency of 540,000 viewers during the '2024 League of Legends World Championship' semifinals between T1 and Gen.G on October 27. Their expertise recently shone through the global Valorant eSports league (SVL), which attracted 2.6 million total viewers, with 1.9 million from overseas markets, demonstrating SOOP’s capability to reach international audiences.
Now, both platforms are embroiled in what can be termed the “streamer acquisition war,” especially as 2025 will see the contract expirations for many top talent. Chijijik currently partners with 148 streamers, offering incentives like acknowledging their previous subscription durations as part of promotional events running until March. They are also building 'Motion Stage' studios to diversify content formats.
Meanwhile, SOOP has ramped up its recruitment efforts, onboarding 53,000 new streamers this year compared to last, which marks a 35% rise. The total number of broadcasts generated has reached 6.75 million, with the virtual category experiencing unprecedented fivefold growth. On November 28, SOOP will hold the '2024 SOOP Streamer Awards' to honor top streamers, recognizing the top 0.1% within the community.
This year, the streamer distribution payout rose from 346.3 billion won (roughly $290 million) in 2021 to 476 billion won (approximately $360 million) by 2023, displaying SOOP's commitment to supporting its talent base, enhancing their ability to engage audiences.
The increasing competition highlights the need for both platforms to innovate as Chijijik plans to launch its own eSports tournaments next year. Industry insiders expect Naver's financial backing to create significant shockwaves within the sector. On the other hand, SOOP is not just on the defensive; it is strategically focusing on international markets as seen by its recent global platform launch.
With the expansion targeting Southeast Asia, SOOP is emphasizing global concurrent streaming support for famous eSports players like Faker, aiming to capture views outside South Korea. An industry expert commented, 'eSports and virtual content are becoming new growth engines for streaming platforms. While Chijijik is growing rapidly with differentiated services backed by Naver, SOOP is finding new avenues through global expansion, making the competition between the two even more intriguing.'
On another exciting note, SOOP will broadcast the '2024 SOOP Streamer Awards' live from the Sangam Colosseum on November 28 at 5 PM. The awards registration began on November 6, identifying 20 potential new talent and 104 exceptionally ranked streamers chosen based on streaming metrics. Attendees can expect various booths and activities, including fan signings with popular streamers like Woong and Ppipi, alongside showcases for merchandise and interactive play zones for fans, amplifying community engagement.
The awards ceremony will feature congratulatory performances from characters like the virtual idol group 'Isekai Idol,' with various awards handed out across categories including games, sports, and radio streaming domains. By recognizing the creativity of streamers and the passion of their audiences, SOOP continues to solidify its cultural imprint within this quickly-evolving industry.
