Disney is raising the prices of its streaming services, joining competitors such as Apple and Netflix in hiking subscription costs for their streaming platforms.
Beginning Oct.21, the cost of an adverstisement-support Disney+ plan will jump from from $9.99 a month to $11.99, while an ad-free plan will rise to $18.99 a month, up from $15.99, the entertainment giant announced Tuesday.
A bundled plan that includes Disney+ and Hulu with ads will cost an extra $2, rising to $12.99 a month, while the ad-free subscription will run $19.99. A subscription offering Disney+, Hulu and ESPN Select with ads will rise from $16.99 per month to $19.99; without ads, that package will cost $29.99 a month, up from $26.99.
In its August earnings statement, Disney said its flagship Disney+ platform added 1.8 million new subscribers in the third quarter and how has 128 million subscribers.
As of last month, 46% of Americans were watching TV and movies on streaming platforms, compared to roughly 23% on cable and 19% on legacy networks, according Nielsen.
Streaming costs have also jumped of late, with Apple, Comcast-owned Peacock and Netflix all raising their subscription prices this year. Those services compete with Paramount+, a streaming platform owned by Paramount Skydance, which is the parent company of CBS.
Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting.
