The Walt Disney Company plans to raise prices for subscribers who want to watch the content of the Disney + or Hulu platforms without commercial ads, following it outperformed Netflix with a total of 221 million subscribers.
Sharjah 24 – Archyde.com:
The Walt Disney Company surpassed Netflix with total subscribers of 221 million, and announced that it would raise prices for subscribers wishing to watch content on the Disney+ or Hulu platforms without commercial ads.
The media giant will raise the monthly cost of its ad-free Disney+ service by 38% to $10.99 in December, when it begins rolling out a new option that includes ads at current prices.
Disney shares rose 6.9% in following-hours trading to $120.15 on Wednesday.
In 2017, Disney bet its future on launching a streaming service that would rival Netflix as audiences moved to watch online rather than pay-TV and broadcast TV.
Five years later, Disney surpassed Netflix in the number of broadcast subscribers, and succeeded in attracting 14.4 million subscribers to the Disney+ service, exceeding the average expectations of analysts in a FactSet poll of 10 million subscribers following the broadcast of the “Star Wars” series and “Miss Marvel” series.