Walt Disney Co’s streaming service, Disney+, has slashed subscription fees by 50% in South Korea, signaling its latest push to regain subscribers amid intense competition in the country’s streaming market.
Unlike leading rivals such as Netflix and domestic player Tving, which have raised prices and introduced ad-supported tiers to expand their user base, Disney+ has periodically launched deep discount campaigns when facing subscriber declines.
Disney+ debuted in South Korea in November 2021, positioning itself as a strong challenger to Netflix with the backing of its parent company’s vast content library. However, nearly three years since its launch, the platform has struggled to gain significant traction, prompting aggressive pricing strategies. Despite past discount campaigns, Disney+ has struggled to sustain subscriber momentum, with major content releases yielding only temporary gains.
Until March 31, Disney+ is offering annual Standard and Premium plans at 59,400 won ($45) and 83,400 won ($63), respectively, representing a 40% discount. Under this promotion, the Standard plan costs 4,950 won per month, half the regular 9,900 won monthly fee, while the Premium plan, which supports up to 4K resolution and four simultaneous streams, is available at 6,950 won per month.
Subscriber figures indicate that major content releases have not led to sustained user growth. According to mobile data analytics platform Mobile Index, Disney+ had 2.56 million monthly active users (MAU) in South Korea as of February, significantly trailing Netflix’s 13.45 million users and falling well behind Coupang Play and Tving, which each have around 6.8 million users. This is a stark contrast to September 2023, when Disney+ saw a temporary surge to 4.3 million MAUs following the release of the hit series Moving.
At the end of 2024, celebrating its third anniversary, Disney+ said it will reverse the declining performance by ramping up investments in “tentpole” content. Recent releases include Light Shop, based on a webtoon by Kang Do-young (Kang Full), whose previous work Moving was a hit for the platform, and Unmasked, starring veteran actress Kim Hye-soo. However, these efforts have not pushed MAU numbers past the 3 million mark.
A further setback has emerged for the highly anticipated drama Knock-Off, starring Kim Soo-hyun, which had been slated for a first-half 2025 release. The 60 billion won ($45 million) production has been put on hold amid unverified allegations surrounding lead actor Kim Soo-hyun and the late Kim Sae-ron. Production for a second season has also been suspended.
Knock-Off, set during South Korea’s late 1990s financial crisis, follows an ordinary office worker who transforms into a counterfeit goods kingpin. Industry watchers had expected the show, featuring Kim Soo-hyun, fresh off the success of Queen of Tears, to gain traction both domestically and internationally.
Despite its struggles, some analysts say it is too early to dismiss Disney+ in South Korea’s evolving OTT landscape. The market is undergoing a shift, with Netflix, Coupang Play, Tving, and Wavve solidifying their positions, but Disney+ remains one of the few platforms with the capital to continue large-scale investments.
“While Disney+ may be reassessing its strategy in South Korea, it still plays a crucial role in distributing Korean content across Asia,” said Kim Jo-han, co-founder of global content distribution firm NEW ID. “With successful releases like Moving and Light Shop, a single hit series could turn the tide.”
Disney+ is betting big on its upcoming releases, having launched the medical thriller Hyper Knife, starring Park Eun-bin and Sul Kyung-gu, on March 19 alongside its subscription discount campaign. More original content is lined up, including the mystery thriller Nine Puzzles, starring Son Suk-ku and Kim Da-mi, in the first half of the year, followed by Low Life, directed by Kang Yun-sung of The Roundup and Big Bet fame, featuring actors Ryu Seung-ryong, Lim Soo-jung, and Yang Se-jong in the second half.
