Bob Chapek Disney CEO, in Earnings Conference Call
"Will Launch in Korea, Taiwan, and Hong Kong in Mid-November"
[Asia Economy Reporter Cha Min-young] Disney's online video service (OTT) Disney Plus (+) plans to launch its service in South Korea in mid-November.
Bob Chapek, CEO of The Walt Disney Company, stated during the Q2 earnings conference call (Disney's own Q3) after the market closed on the 12th (local time), "We will launch Disney+ in mid-November in Taiwan, Hong Kong, and South Korea."
Originally, Disney+ was expected to launch its service in South Korea by the end of last year, but the launch was delayed by more than a year compared to initial expectations. Domestic telecom companies, having benefited from the 'Netflix effect' with strong customer lock-in, are making final efforts to collaborate with Disney. The most likely partner is LG Uplus.
The number of Disney+ subscribers increased by about 6.2% from 103.6 million in the previous quarter to 116 million. This slightly exceeded the initial FactSet estimate of 115.2 million. In addition to launching in many Asian regions in November, Disney will introduce Star+ in Latin America this month. In October, the service area will also expand throughout Japan.
Meanwhile, Disney's Q2 revenue recorded $17 billion (approximately 20 trillion KRW), surpassing market expectations of $16.7 billion (approximately 19 trillion KRW). Net income was $918 million (approximately 1 trillion KRW), turning profitable compared to the previous year.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
