Disney to boost prices for ad-free Disney+ and Hulu services and vows crackdown on password sharing
Source: Associated Press
Disney to boost prices for ad-free Disney+ and Hulu services and vows crackdown on password sharing
BY DAVID HAMILTON
Updated 9:35 PM EDT, August 9, 2023
Walt Disney Co. CEO Bob Iger vowed to make its streaming services profitable via a planned October price hike on its ad-free Disney+ and Hulu plans and a crackdown on password sharing expected to extend through next year.
The increases will raise the monthly cost of ad-free Disney+ by $3, or roughly 27%, to almost $14. The cost of ad-free Hulu will likewise rise $3 to almost $18 — a 20% hike that will make it more expensive than the most popular ad-free tier at Netflix.
Iger spoke following Disney’s release of mixed earnings for its fiscal third quarter ended July 1. The company reported a substantial net loss while shedding customers in both domestic and international markets. Overall, Disney reported a 4% increase in revenue for the quarter but swung to a net loss of $460 million from a year-earlier profit of $1.4 billion. Disney shares, which closed at $87.49, rose roughly 2.2% to $89.45 in after-hours trading.
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Read more: https://apnews.com/article/disney-disney-subscribers-loss-9b954f969e3c15fc18cd0054e5e7f6dd
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