Disney+ shakes up UK costs after worldwide drop in subscribers

Disney+ is to alter its UK pricing after shedding 11.7 million prospects internationally.

The streaming service, which at the moment prices UK customers £7.99 a month, will introduce three new pricing tiers from 1 November.

It comes after the corporate revealed it suffered a 7.4% drop in Disney+ prospects internationally, to 146.1 million within the three months to July.

The leisure large additionally reported a internet lack of $460m (£360m) within the third quarter, in contrast with earnings of $1.4bn (£1.1bn) throughout the identical interval final yr.

Walt Disney chief government Bob Iger stated the agency was dealing with a “challenging environment”, however stated it was on monitor to chop prices by billions of kilos and stated income was up 4%.

He additionally vowed to introduce a crackdown on password sharing in 2024, though didn’t present particulars.

It follows a comparable transfer by streaming rival Netflix earlier this yr.

Mr Iger additionally unveiled worth will increase for advert-free customers of the service within the US, as he claimed the promoting marketplace for streaming was “picking up” compared with conventional TV spots.

“We’re obviously trying with our pricing strategy to migrate more subs to the advertising supported tier,” he added.

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The new Disney+ UK pricing features a cheaper plan of £4.99 a month with adverts, together with a £7.99 “standard” service which may be watched on two completely different gadgets without delay.

A costlier premium model, priced at £10.99 a month, will provide greater picture high quality and the flexibility for 4 completely different individuals to look at without delay.

Existing subscribers to the service, which incorporates Star Wars and Marvel movies, will robotically be transferred to the premium model – until they request to change their plan – and nonetheless be charged £7.99 a month up till December.

Similar shake-ups in pricing are being launched throughout Europe and in Canada.

Elsewhere, Disney stated it was boosted by its Shanghai Disney Resort, which was open for the total quarter – in contrast to the identical time final yr when COVID restrictions compelled its closure for a lot of the interval.

But the corporate additionally misplaced 12.5 million subscribers to its Disney Hotstar service in India after it gave up rights to Indian Premiere League cricket matches.