Netflix monthly users dip in S. Korea due to competition

Netflix's monthly active South Korean users, who interact with an app at least once a month, dipped 1.9 percent to 8.08 million in April from 8.24 million in March, as the platform faces increasing competition from local players.

There were nearly 9 million monthly active users in January.

Netflix's paid memberships in South Korea reached 3.8 million as of the end of last year.

Last February, Netflix Inc. announced plans to invest $500 million this year in creating original movies and TV shows in South Korea.

South Korea is Netflix’s third-largest Asian market by sales, trailing only Australia and Japan, according to consultancy Media Partners Asia.