The Walt Disney Company continues with the expansion of Disney+ in the Asian region and launched the platform for South Korea and Taiwan. At the beginning of 2021, the OTT had already reached Malaysia, Thailand and Singapore, and now the company confirmed that the app will debut in Hong Kong next week. In addition, he assured that it will incorporate a series of original content produced in the continent, as it did in Latin America.
In the last quarter closing, Disney’s financial results revealed that the platform presented a notoriously low subscriber growth compared to previous periods. After announcing its performance, the company stated that it seeks to double the number of countries in which the service is available, and that it aims to conquer sectors such as Central and Eastern Europe, the Middle East and South Africa.
In the case of the Asian region, the brand opted for the production of regional original content in order to attract the largest number of customers. In South Korea, the competition started to get tighter now that Disney and Apple launched their streaming apps in the past week.
Disney’s CEO, Bob Chapek, also revealed that the company’s next goal is to increase investment in new content to drive OTT growth. “We announced on our last Investor Day of 2020 that we expect our total content spend to be between USD 8 and USD 9 billion in fiscal 2024, and now we will further increase that investment”, he announced.