Disney Plus, the on-demand over-the-top video streaming service of the global media and entertainment giant The Walt Disney, is expected to reach Korean viewers through LG Uplus Corp. network at a monthly package price of slightly over 20,000 won ($17.03).
If LG Uplus brings Disney Plus onboard on top of Netflix, the third wireless carrier could jump to No. 2 in the IPTV and pay TV market.
According to industry sources on Thursday, Disney Plus with streaming access to movies and shows from Disney, Pixar, Marvel and more is expected to make its Korean debut on LG Uplus’ IPTV platform with a monthly price package of the mid-20,000 won.
Disney Plus recently announced that it would launch a single price package for its mobile streaming service allowing concurrent streams on up to four different devices and registration of seven different users at 9,900 won per month.
LG Uplus’ U+tv is expected to be its Korean distributor. Considering the mobile price packages of Netflix and U+tv’s premium plan for Netflix streaming service, a little over 20,000 won U+ Disney Plus (tentatively named) plan is plausible.
LG Uplus admitted the estimation is reasonable but said nothing has been decided yet.
As of late last year, KT attracted the largest 7.87 million subscribers on its IPTV platform, followed by SK Broadband with 5.54 million and LG Uplus with 4.83 million, according to the Ministry of Science and ICT. LG Uplus on the back of global video streaming giant Disney Plus could pose a threat to the No. 2 service provider SK Broadband.
LG Uplus’ cable TV unit LG HelloVision will also be able to offer the Disney Plus streaming service with an own price plan. A recently leaked photo showed its new remote control has a Disney Plus button, and the company (formerly CJ HelloVision) had launched own Netflix service plan earlier.
If LG HelloVision successfully launches Disney Plus service, LG Uplus will gain momentum for faster ascending to No. 1 with its cable TV and IPTV subscribers of total 8.7 million.
Some still are wary of local mobile carriers’ partnership with foreign streaming giants and content moguls. They say LG Uplus, the country’s No. 3 with weaker bargaining power, might have agreed on a large portion of profit distribution with Netflix for the partnership, and it is quite predictable when comparing their operating margins and price plans.
LG Uplus shares finished 0.34 percent higher at 14,800 won in Seoul trading on Friday.
By Na Hyun-joon and Lee Ha-yeon
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]