Disney’s ESPN+ to hike monthly subscription by $3
(Reuters) -Walt Disney Co plans to lift the month-to-month subscription charge for its sports activities streaming platform ESPN+ by $3 a month, a 43% hike, the corporate stated on Friday.
The worth of an ESPN+ subscription will rise to $9.99 per thirty days beginning Aug. 23, whereas the price of an annual subscription will go as much as $99.99 from $69.99. Subscribers will probably be formally notified subsequent week.
Nevertheless, the charge for these getting a bundle of all of Disney’s streaming companies, together with Hulu and Disney+, won’t get impacted, the corporate stated.
Shares of Disney rose practically 4% in afternoon buying and selling.
ESPN+, which affords greater than 22,000 stay occasions, together with prime leagues throughout many sports activities, final raised its month-to-month and annual subscription charges in the USA in July final 12 months. (https://reut.rs/3PiCbRG)
Over the past 12 months and half, Disney stated it has added expanded Nationwide Soccer League (NFL) rights, expanded its rights to Wimbledon and the Australian Open, renewed rights for the favored FA Cup and extra on ESPN+.
Media corporations have been trying to find new methods to generate extra income amid lowered advert spending and powerful competitors within the congested streaming market, with Disney betting on a robust comeback from live-sports streaming from a pandemic-led lull.
Netflix Inc, however, has teamed up with Microsoft Corp for its deliberate ad-supported subscription providing, because it appears to be like to plug slowing subscriber development by rolling out a less expensive plan.
(Reporting by Tiyashi Datta in Bengaluru; Enhancing by Krishna Chandra Eluri and Shailesh Kuber)
