We knew what we were getting into. A hotshot streaming giant like Disney+ was not going to stay this low forever. And the time for a price hike has finally come. Disney+ announced its going to increase its subscription fee after the Disney Investors Day. It will be following Netflix in this regard. The price increase comes after a slew of new Star Wars and Marvel Cinematic Universe shows were announced during the lengthy 4 hour online event.
For now, the subscription fee for Disney+ in the USA is $6.99 a month or $69.99 for the whole year. The streaming platform has had a great year. It touched more than 73 Million subscribers in its premier year alone. After the platform announced that Mulan will also be released on Disney+, it saw a surge in sudden subscriptions. Disney+ app download increased by 68%. Pixar’s Soul is also going to be released on Disney+ for free on Christmas day. Add to that the fact that it already has a robust library of original shows like The Mandalorian and more in the pipeline, things are looking up for Disney+.
The Disney+ price hike will begin from March 26, 2021. The charges then will be set at $7.99 a month or $79.99 for the entire year. The Disney+ US bundle will also include other platform subscriptions within the same package for a reduced fee. ESPN Plus and Hulu will be available for streaming as part of the bundle.
It was only natural the prices were raised. When a platform invests in Original content, it has to recuperate the investment with a subscription charge increase. That’s the way Netflix does it. Disney is merely following suit. It’s all an endless cycle of customer’s investing in the process of value creation. Though it might seem early for a price hike, Disney+ will be releasing many high profile shows next year. A price increase for its subscription seems only fair and logical.
With a total of 86 Million subscribers (an increase of 13 Million since the last count in November), Disney+ will have massive additional funding when the price hike hits. Considering the magnitude of their upcoming projects and the prices of their biggest competitor – Netflix, the price increase of a dollar is still peanuts. Netflix is still the King of Streamers. But Disney+, with their new projects, seems to be catching up very fast.
Source: The Verge