Walter Disney Company Korea CEO Oh Sang-ho speaks during an Asia-Pacific content showcase of streaming service Disney+ in Seoul on Oct. 14, 2021, in this photo released by the company.
SEOUL, Feb. 23 (Korea Bizwire) — Disney+, a content streaming service from Walt Disney Co., is struggling in South Korea, betraying the initial hype when it launched.
Disney+’s monthly active users (MAU) stood at 2.01 million people in January, way behind Netflix’s 12.41 million and fewer active users than 3 other South Korean streaming platforms as well, according to the data by mobile big data platform IGAWorks.
Industry experts picked the lack of a South Korean original series on Disney+ as the primary issue. Ever since it was launched, the streaming service only released two South Korean original series: “Rookie Cops” and “Grid.”
Experts believe that popular films and series overseas are no match for proper South Korean original content in order to succeed in the market.
Also, Disney+’s flagship content is failing to cater to the interest of local viewers.
For one, South Korea is one of the countries with the lowest interest in the Star Wars series, which happens to be one of Disney+’s most popular offerings.
“Star Wars: The Rise of Skywalker,” released in 2019, generated more than US$1 billion in revenue across the globe. In South Korea, however, the movie was watched only by 500,000 viewers.
“Streaming platforms other than Netflix are currently in their initial stage of investment, so we need at least three years to make a proper assessment,” an industry source said.
H. M. Kang (hmkang@koreabizwire.com)
