Disney+ Enters South Korean Streaming Market : Disney’s content disappearing from Local platforms
Disney+ has started to retrieve Disney content that has been provided to over-the-top (OTT) services in South Korea. Many local streaming companies
in Korea said they no longer offer Disney content.
While Wavve, one of Korea's leading OTT service platforms, is known to stop servicing Disney movies and animations at the end of April, Disney's content are also not being searched on Watcha, another famous OTT platform in Korea.
It is heard that Disney+ will officially enter Korea in the second half of this year. Accordingly, an analysis has been made that Disney is removing their content which was supplied to various OTT platforms in Korea. Similarly, 2019, when Disney+ was launched in the U.S., Most of the Disney content disappeared from Netflix.
Several Korean telecommunication companies are working to join hands with Disney+.
Korean telecommunication conglomerates, including KT and LG U+, are trying to exclusively service Disney content on their OTT platforms, helping Disney+ enter Korea. Disney+ has immensely popular intellectual properties such as Marvel, Pixar, Star Wars, National Geographic, 20th Century Fox, and ESPN. Based on this, it has entered the U.S., Canada, and the Netherlands, attracting more than 100 million paid subscribers within a year and four months since its launch, threatening Netflix's stronghold.
The share of the Korean content market may also change significantly depending on which company Disney+, a global media giant, holds hand with. All eyes are on how Disney+'s emergence will change the saturated OTT market in Korea due to Netflix and local platforms.