(Bloomberg) – Walt Disney () is investing in Japanese anime exclusives and expanding a Korean superhero franchise as part of its strategy to capture a bigger share of the Asian streaming market.
“We’re not a company that’s looking for volume,” said Luke Kang, president of Disney’s Asia-Pacific region, in an interview. “We have our strategy, which is to really do fewer projects, but do them well, and choose a portfolio that we believe will have an impact.”
Disney is focusing on select Asian markets to help grow its local subscriber base and attract international views, while reducing investment in content in Southeast Asia. Its India operation merged with Reliance Industries’ media business to form a joint venture called JioStar. After launching in Asia in 2021, the company has adjusted its content investment strategy to increase profitability.
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Disney’s approach is drastically different to that of Netflix (), its streaming rival transformed into a dominant player in the region by investing billions of dollars in developing original content, mainly aimed at local markets, from Korea and Japan to Southeast Asia and India. In contrast, Disney+ is focusing on creating major original franchises that can expand outside the region.
Disney+ has renewed superhero drama “Moving” for a second season, the Burbank, California-based company said during its APAC content presentation in Singapore on Thursday. The series, created by South Korean webtoon artist Kangfull, became a global hit and won more than 10 industry awards, according to Disney. The company is also deepening its partnership with Kangfull with the upcoming horror mystery series “Light Shop.” Kangfull also said he will continue to work with Disney on creating original series for TV adaptations of webtoons.
Kang says he took a risk by approving the first season of “Moving,” with the biggest budget of any Korean series, despite doubts and skepticism about the show’s potential for success.
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“It was worth taking the risk, because if it was successful, it could actually become a franchise,” Kang said. “That’s our bread and butter. It’s what we do well.”
In addition to increasing Korean content, Disney+ is turning its “Twisted Wonderland” mobile game, developed in-house with manga artist Yana Toboso, into an animated series next year. The franchise has already expanded into novels and manga, and its addition to Disney’s streaming platform is the next step in expanding into new formats and media.
Disney+ will also have exclusive rights to distribute some anime titles from Kodansha, one of Japan’s largest publishers, including the second season of “Go! Go! Loser Ranger!”
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Anime continues to be a huge draw for audiences, with top-performing titles including “Sand Land: The Series” from Dragon Ball creator Akira Toriyama, Disney said in a statement.
“Stories produced in the Asia-Pacific region have become a staple in general entertainment consumption — they are world-class productions with growing global resonance and passionate fandom around the world,” said Carol Choi, executive vice president of original content . “Our content strategy remains focused on curating premium originals, driven by talent from the region.”
With its and content-based products from Disney Studios, the 101-year-old media and entertainment conglomerate is approaching the Asian market with a long-term vision.
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“I think we are in the early stages of the evolution of this industry,” Kang said. “So we need to be patient and stick to our strategy.”
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