Walt Disney Co’s (NYSE:DIS) subscriber video on demand service Disney+ is planning an international blitzkrieg that could help it buoy sagging subscriber growth and make the competition more intense for rival Netflix Inc (NASDAQ:NFLX).
What Happened: The Burbank, California-headquartered entertainment behemoth said it will launch Disney+ in new markets such as South Africa, Turkey, Poland, and the United Arab Emirates, according to a report from The Hollywood Reporter.
The SVOD service will be launched in other countries such as the Czech Republic, Egypt, Saudi Arabia, Iraq, Israel as well.
Some of the territories where Disney plans to bring Disney+ include French Polynesia, Gibraltar, St. Helena, and Sint Maarten.
No specific launch dates for each country were revealed nor were any subscription plans disclosed, as per The Reporter.
See Also: How To Buy Disney (DIS) stock
Why It Matters: Disney's rival Netflix ended the fourth quarter with 222 million paid subscribers. According to Disney’s fourth-quarter results released in November, it had 118.1 million subscribers.
However, subscriber growth has not been impressive. Disney added just two million subscribers in Q4 compared with its 116 million subscriber base reported in the preceding quarter. Comparatively, Netflix added 8.3 million subscribers quarter-over-quarter.
Disney recently created an International Content Group headed by Rebecca Campbell in order to bolster its original local and regional content.
Campbell will steer Disney’s teams in the Asia Pacific, Europe, the Middle East, Africa, India, and Latin America.
Price Action: On Wednesday, Disney shares closed 2.1% lower at $133.60 in the regular session.
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