Disney bets on Korean, Japanese originals in Asia push

BURBANK: Walt Disney Co is investing in Japanese anime exclusives and extending a Korean superhero franchise as part of its push for a bigger slice of the Asian streaming market.

“We’re not a volume player,” Luke Kang, president of Disney Asia-Pacific, said in an interview.

“We have our strategy, which is to really do fewer projects, but do them well, and really choose a slate that we think will make an impact.”

Disney is focusing on select Asian markets to help increase the local subscriber base and draw international viewership, while cutting content investment in Southeast Asia.

Its India operation merged with Reliance Industries Ltd’s media business to form a joint venture called JioStar.

After launching the streaming platform Disney+ in Asia in 2021, the company has been adjusting its content investment strategy to boost profitability.

Disney’s strategy is starkly different from streaming rival Netflix Inc, which has become a dominant player across the region by pouring billions of dollars into developing original content primarily targeted at local markets from South Korea and Japan to Southeast Asia and India.

In contrast, Disney+ is focusing on creating big, original franchises that could travel outside the region.

Disney+ has renewed superhero drama Moving for a second season, the Burbank, California-based company said at its APAC content showcase in Singapore today.

The series, created by South Korean webtoon artist Kangfull, blossomed into a global hit and earned more than 10 industry awards, Disney said.

The company is also deepening its partnership with Kangfull with the upcoming horror mystery series Light Shop.

Kangfull also said he would continue to work with Disney on creating original series for webtoon’s TV adaptations.

Kang said he took a risk to green-light the first season of Moving, which had the biggest budget of any Korean series, despite doubts and scepticism over the show’s potential for success.

“It was worth taking a risk because if it made hit, it could really become a franchise,” said Kang.

“This is our bread-and-butter. That’s what we do well.”

Beyond loading up on more Korean content, Disney+ is turning its Twisted Wonderland mobile game, developed in-house with manga artist Yana Toboso, into an animation series next year.

The franchise has already branched out into novels and manga, and its addition to Disney’s streaming platform is the next step in expanding to new formats and mediums.

Disney+ will also have exclusive rights to distribute some anime titles from Kodansha, one of Japan’s biggest publishing houses, including the second season of Go! Go! Loser Ranger!

Anime remains a major draw for audiences, with top-performing titles including Sand Land: The Series by Dragon Ball creator Akira Toriyama, Disney said in a statement.

“Stories produced in Asia-Pacific have become a staple in general entertainment consumption – they are world-class productions, with growing global resonance and deep passionate fandoms worldwide,” said Carol Choi, executive vice-president for original content.

“Our content strategy remains focused on curating premium, talent-driven originals from the region.”

With its holistic portfolio from theme parks to box office films and merchandises based on Disney studios’ content, the 101-year-old media and entertainment conglomerate is approaching the Asian market with a long-term view.

“I think we are in the very early stages of the evolution of this industry,” said Kang.

“So we just have to be patient and stick to our strategy.”