Disney Plus, an online video service (OTT) of Disney, which is considered a strong competitor to Netflix, will land in Korea on November 12. As the release date of Disney+, armed with powerful original content such as Avengers, Star Wars, and Frozen, has been set in Korea, competition with Netflix, the No.
On the 8th, Walt Disney Company Korea announced that Disney+ would start its official service in Korea on November 12th. The Korean subscription fee for Disney+ was set at 9,900 won per month or 99,000 won per year.
As the release date of Disney+ in Korea has been set, domestic consumers will be able to enjoy movie and TV program content from Disney's core brands, such as Disney, Marvel, Pixar, Star Wars, and National Geographic, from November. The ‘Star’ brand, which is newly introduced in Korea, provides general entertainment contents of various genres. Korean content produced in Korea will also be released through star brands.
Jay Trinidad, head of Asia Pacific DTC business at The Walt Disney Company, said, “As Asia, including Korea, is emerging as a center of content and media, we will continue to strengthen our market competitiveness with Disney’s unique storytelling and innovative content.” said. Oh Sang-ho, CEO of The Walt Disney Company Korea, also said, "Disney+ will provide the best entertainment experience to users of all ages based on attractive stories from world-class creators and a solid portfolio of brands and franchises."
As the domestic release schedule of Disney+ is set, the final competition between domestic Internet TV (IPTV) operators to attract Disney+ as well as the domestic OTT market is expected to intensify.
In particular, interest is growing whether Disney+ can put a brake on Netflix, the No. 1 operator in the domestic OTT market. In the survey of OTT apps most used by Koreans (as of July), conducted by WiseApp, Retail, and Goods, an app/retail analysis service, Netflix took the lead with 9.1 million people. After that, Wave 3.19 million, Teabing 2.78 million, U + Mobile TV 2.09 million, Coupang Play 1.72 million, Watcha 1.15 million, and season 1.41 million.
However, while the number of Netflix's global subscribers has recently been stagnant, experts are of the opinion that the position of Netflix may be shaken by Disney+'s offensive with powerful content.
After Netflix and Disney+, as they step into the domestic market, domestic OTTs are also tense. In response, Wave signed a large-scale content supply contract with HBO, which is famous for 'Game of Thrones' and 'Band of Brothers', and Teabing is actively working to secure content as well as increase the number of subscribers by strengthening cooperation with Naver.
It is also interesting to see which IPTV operators Disney+ will partner with. Currently, KT (030200) and LG U+ (032640) are negotiating with Disney in Korea. As Disney revealed its Korean release schedule on the same day, the industry predicts that IPTV partners will be decided soon. An industry official said, “The announcement of Disney+ today is about its own services such as apps, but it is highly likely that the service will start at the same time as IPTV on November 12. . In fact, Hwang Hyeon-sik, CEO of LG U+, who attended the 'Artificial Intelligence (AI) Top Strategic Dialogue' held at Oakwood Premiere in Samseong-dong, Seoul on the 7th, met with reporters and said, "We are negotiating at the last minute" regarding the partnership with Disney+.