Ahead of the launch of Disney+ in South Korea, Disney has signed a new long-term agreement with film and TV studio Next Entertainment World (NEW) to supply content to streaming service.
During Disney’s Investor Day event in December, it was confirmed that South Korea would be getting Disney+ in 2021, but no official launch date has yet been revealed.
NEW confirmed to Variety that a five-year deal has been agreed to and they will be creating content across a range of genres. With Disney confirming that the deal calls for the supply of one new series per year.
This new deal will see them committing to spending KRW66 billion ($59 million) on new content. Two shows, “Moving” and “Our Police Class” as likely to be included in the deal.
From NEW’s perspective the deal will first “secure a stable foundation for tent pole production,” and second “represent a leap forward as a global studio capturing fans around the world,” said Studio & New CEO Jang Kyung-ik and Next Entertainment World, chairman Kim Woo-taek in a joint statement.
Disney hasn’t laid out its full Asia launch plans yet. Disney+ launched in Singapore in February and in India and Indonesia last year. And earlier today, it was announced that Disney+ Hotstar would also be launching in Malaysia in June. Disney has confirmed Disney+ will launch in Hong Kong later this year and follows the news that Disney is closing down 18 TV networks around South East Asia in October.
Recently Disney announced it would not be renewing its contracts with Korean streaming platform Wavve, which resulted in over a 100 Disney films including “Frozen” being removed on April 30th.
Disney has been making lots of deals with international companies to provide localised content for its streaming service as it looks to grow internationally.