Disney’s streaming service is raising its prices for Irish-based subscribers from November. The company also hinted it may crack down on password sharing, following successful moves by Netflix to encourage users to pay up or face being cut off from its library of content.
From November 1st, the cost of Disney+ will rise to €10.99 a month from the current €8.99, or €109.90 for annual subscriptions, up from €89.90. The price increases will come into effect for new customers from that date, and for existing customers from December 6th.
Disney is planning to launch an ad-supported subscription in some European countries, with the UK, Denmark, France, Germany, Norway, Italy, Spain, Sweden and Switzerland getting the new €5.99 a month plan.
The changes come as streaming services do battle in a bid to retain subscribers. Walt Disney chief executive Bob Iger said on Wednesday that the entertainment company faces a “challenging environment” in the near term, but he emphasised progress in cutting costs and focusing on creativity.
The company beat Wall Street’s profit expectations for its fiscal third quarter and said it was on track to cut costs by more than the $5.5 billion (€5 billion) it promised investors in February. The company said it would address password sharing next year.
Disney also posted quarterly revenue below expectations and fell slightly behind analyst projections for US subscribers of Disney+.
Disney+, which previously launched its ad-supported plan in the US, said Standard with Ads would join the Standard and Premium subscription plans. The Premium plan includes 4K and HDR content, allows up to four concurrent streams and supports Dolby Atmos. The standard plan only support two streams, 5.1 and stereo audio, and up to full HD resolution content.
“The introduction of the ad-supported plan marks the next evolution for Disney+ in Europe, as we provide greater choice for our customers and our world-class advertising partners alike,” said Jan Koeppen, president of the Walt Disney Company EMEA.
Disney+ last increased Irish prices in 2021, a year after launching, when it increased Irish pricing by €2 a month. – Additional reporting: Reuters