Disney+, the streaming service owned by the Walt Disney Company, has been facing challenges in South Korea. The platform lost 1.5 million subscribers over the past year and struggled to produce a breakout hit since the drama “Moving.” To lure back subscribers, Disney+ has rolled out an aggressive promotion offering a 40% discount on its annual subscription until Sept. 28. The move stands in contrast to other streaming platforms, which have been raising monthly subscription prices.
Disney+ officially launched in Korea in November 2021, with high hopes that the platform could rival Netflix, but its performance has faltered as it approaches its third anniversary. The company is now trying to regain momentum by cutting its annual subscription prices from 99,000 won to 59,500 won ($45), which is less than $4 a month. The deal is available to both new subscribers and previous subscribers without an active membership, according to Disney+ on Sept. 20.
The move echoes a similar pricing strategy used during the peak of Moving’s popularity when Disney+ offered annual subscriptions for 58,900 won. The deal led to a surge in subscribers at the time, but the latest discount appears to be aimed at preventing subscribers from leaving the platform.
According to the mobile index data from industry tracker IGAWorks, Disney+ had 2.85 million monthly active users in August, down 1.5 million from 4.33 million in September 2023. It now lags behind industry leader Netflix (11.21 million) and other competitors such as TVING (7.83 million), Coupang Play (6.85 million), and Waave (4.41 million).
Despite its strong start last year, when Moving’s success helped Disney+ close the gap with rivals, the platform has struggled to retain subscribers this year. Original content such as “A Shop for Killers,” “Blood Free,” “Uncle Samsik,” and “The Tyrant” failed to stop users from leaving the platform. Even the recent release of the comedy-drama “Seoul Busters” has done little to turn the tide.
Disney+ is doubling down on genre-based content and competitive pricing to reverse this trend. Upcoming titles include “Light Shop,” a new project from Moving writer Kang Full, and “Gangnam B-Side,” a crime drama set in the shadows of Seoul’s upscale Gangnam district. Both shows will be released later this year, targeting local and international audiences.
Disney+ is also banking on a solid lineup for 2025, with star-studded productions featuring top Korean actors. Kim Hye-soo will headline “Unmasked,” a thriller set against the backdrop of an investigative journalism program hunting down a criminal mastermind. Park Eun-bin and Seol Kyung-gu will star in “Hyper Knife,” a medical thriller about two genius doctors.
Other upcoming releases include “Nine Puzzles” with Kim Dami and Son Seok-gu, “Knock-Off” starring Kim Soo-hyun and Jo Bo-ah, “Tempest” featuring Jun Ji-hyun and Kang Dong-won, “Made In Korea” with Hyun Bin and Jung Woo-sung.
However, industry experts warn that relying solely on original content may not be enough for Disney+ to reverse its fortunes.
“Streaming platforms need to offer a wide range of content, including live sports, to keep subscribers engaged,” said Kim Sung-chul, a professor at Korea University’s School of Media & Communication. “More platforms offer bundling options with sports broadcasts, as seen with Coupang Play and TVING.” “This trend is also common in global markets such as the U.S., so imply relying on high-quality original content won’t be enough to lure users away from competitors,” he added.
