Korean portal giant Naver is rapidly increasing its profile in the short-form content with innovative features such as bite-sized videos and summary-based search services.
Starting from Dec. 19, the portal service provider introduced a new feature, dubbed Shortents, to its PC and mobile platforms and placed it in the top search tabs.
The artificial intelligence-powered service summarizes key information from popular content by specific topics, offering related resources. Updated hourly, Shortents allows users to explore a wide range of up-to-date content, from sports and entertainment to local dining trends.
To further integrate its services, Naver plans to incorporate short-form content from its streaming platform, Chzzk, directly into its app and portal search results. Additionally, the company is working to connect Chzzk with its e-commerce platform to enhance user engagement.
Naver also focuses on attracting creators to secure high-quality content. By Jan. 15, the company aims to recruit 5,000 creators for its short-form platform, Clip, offering 7 billion won ($4.7 million) in rewards.
“With the rising popularity of bite-sized content consumption, we are introducing tailored content recommendation spaces like Clip and Shortents tabs in our integrated search. This will help users discover content related to their interests more easily,” a Naver official said.
The push for short-form content is part of Naver’s strategy to keep users engaged longer on its platform, amid growing competition from global players such as YouTube, Instagram and TikTok. Since adopting short-form features, Naver’s average daily time spent on its mobile main page increased by 10 percent on-year in the third quarter.
The short-form content market is experiencing explosive growth. According to global market research firm Market Research Future, the market size is projected to grow from $26.6 billion in 2023 to $289.5 billion by 2032, with an annual growth rate of 30.3 percent.
Besides tech giants like Naver, over-the-top platform providers and online flea market platform operators are also eyeing tjhe short-form market.
Local streaming service provider Watcha was the first to launch a short-from drama platform, Shortcha, while Tving introduced its short-form service this month.
Tving’s offering includes original series, entertainment shows and documentaries, as well as dramas from channels such as tvN and Mnet, and sports content like Korean Baseball Organization League and professional basketball. The platform plans to release original short-form dramas and entertainment shows next year.
Danggeun Market, a popular online platform for hyperlocal transactions which enables its users to buy and sell secondhand items from their neighbors, has expanded its short-form service, Danggeun Story. The service, which provides personalized curation, has seen significant growth, with daily uploads increasing 60-fold and views rising 24-fold within a year of its launch.
By Jie Ye-eun (yeeun@heraldcorp.com)
