The company said it will also start cracking down on password sharing.
Disney is looking to join Netflix in raising prices for its streaming services and cracking down on password sharing.
During an earnings call Wednesday, Walt Disney CEO Bob Iger said the company is looking to increase profits by hiking prices by $3 for its ad-free Disney+ and Hulu, increasing monthly subscription costs to almost $14 and $18, respectively.
The Disney CEO also said the company will adjust subscriber agreements later this year to cut down on account sharing. While Iger didn't provide details on the crackdown, he noted that Disney would benefit from the move in 2024.The announcements came after Disney released its earnings for the fiscal third quarter that ended on July 1. The company reported substantial losses in both domestic and international markets, but acknowledged that problems in the Indian market played a large role.
Overall, the company reported a 4% increase in quarterly revenue, but saw a $460 million net loss from a year-earlier profit of $1.4 billion. Disney said its streaming services also lost about 300,000 subscribers from April through June, the same number it shed in the second fiscal quarter of this year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Disney posts smaller streaming loss, will hike prices for Disney+ and HuluDisney said it is hiking prices on almost all of its streaming packages to boost its bottom line. Commercial-free Disney+ will cost $13.99 per month, a 27%...
Read more »
Disney Sets Price Hikes For Ad-Free Tiers of Disney+ and Hulu, Plans Advertising Expansion AbroadESPN+ and Hulu with Live TV will also see their monthly subscription fees rise, while the company launches a new premium bundle.
Read more »
Disney to Significantly Raise Prices of Disney+, Hulu Streaming ServicesBreaking: Disney is raising prices on its streaming products, lifting the cost of the ad-free versions of Disney+ and Hulu by more than 20% each
Read more »
Disney Announces Major Disney+, Hulu Price Hikes and New Streaming BundlePrices are going up at Disney+ and Hulu. Here's what you need to know about the changes.
Read more »
Disney Is Raising the Price of Disney+, Hulu, and ESPN+The prices for Disney’s various streaming services is about to go up.
Read more »
Disney to boost prices for ad-free Disney+ and Hulu services, vows crackdown on password sharingDisney is in the middle of a “strategic reorganization″ that includes cutting about jobs to help save $5.5 billion across the company.
Read more »