After spending four hours outlining dozens of big new projects to investors, Disney+ announces that it will be pushing up the price of its streaming service.
Currently, Disney+ is available for $6.99/month or $69.99/year. The streamer has had a huge hike in subscribers, far exceeding anyone’s expectations due to the pandemic. The service hit 73 million subscribers in its first year! Right out of the gate, Disney+ is the biggest success story of the streaming era so far.
During Disney’s Investor Day, the company makes an important statement. Beginning from March, a monthly subscription will cost $7.99 and a yearly subscription will cost $79.99. Basically, an increase of one dollar.
Everyone saw this coming! Disney is not gonna let you have all the amazing movies without asking to pay a little more!
On the plus side, it is still cheaper considering its major rivals. Netflix, this month, is climbing to $13.99 monthly and HBO Max coming in at $14.99 per month. If viewers still think that the price is a little more, there are still cheaper options available like Hulu and ESPN+.
The company outlined more than 100 projects today, and about 80% of them will debut first on the platform. Hence, customers are likely to get a lot more for their money.
Raising prices in less than 18 months after the launch shows how confident the entertainment provider is in its potential for subscriber growth. Despite the price surge, the company believes it will still be able to significantly grow its subscriber base over the next few years.
Disney is highly focused on building its streaming brand. Even though it is nowhere near Netflix, the company is booming at a high pace. The studio also has Hulu under in its holdings, which is an established streamer where they can put their more mature content.
With all the new shows and movies set to hit the platform, including next year’s Raya & The Last Dragon, that total is likely to grow even more. Disney+ is offering an unrivalled catalogue of shows and movies. The streaming platform has already established itself as full of intimidating brands that people know and love. They sure have not won the streaming wars juts yet, but they’re gaining on their largest competitor fast.