In March 2021, Disney+ will raise its subscription price by $1. The rise in subscription means that the subscription to Disney Plus will now cost $8 per month. Last year Disney Plus launched at a subscription of $7 per month. The streaming service gained significant popularity when it launched in November 2019. Even in Europe, the prices will hike by 2 Euros, which will make it 9 Euros per month. Other than this, the changes will also be made in other markets where Disney Plus has been launched.
The Chief Financial Officer Christine McCarthy says;
“These price increases reflect an increase in the underlying value of the Disney Plus product offering…”
As compared to the Netflix streaming service, the monthly subscription of Disney Plus is still cheaper. The monthly subscription to Netflix costs around $14, which is also the result of increased prices. Netflix also started at $9 per month. The premium package of Netflix, which costs $18 per month, includes HDR image quality, 4K resolution screen, and the ability to stream at different devices at the same time. However, the same features as Netflix’s premium package are included in Disney Plus’ standard package.
Other than the price hike, the company is also releasing Marvel and Star Wars originals. The streaming of films normally takes about six to eight months to be streamed on Disney Plus, but this time, due to the pandemic, the streaming of films has accelerated. Although it is not sure that when the Marvel Movies will be streaming on Disney Plus but MCU is planning to launch all series in the first half of the next year on Disney Plus. WandaVision is said to be released on January 15th on Disney Plus.
Despite the price hike, in the coming year, we can expect many new and exciting shows on Disney Plus, which will be worth the price hike. The company also announced that by the end of the year 2024, it expects to reach 230 to 260 million subscribers. On the contrary, Netflix is expected to surpass 200 million subscribers by the end of this year.