July 15 (Reuters) – Walt Disney Co (DIS.N) 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 mentioned on Friday.
The value 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 shall be formally notified subsequent week.
Nonetheless, 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 mentioned.
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Shares of Disney rose almost 4% in afternoon buying and selling.
ESPN+, which gives greater than 22,000 reside occasions, together with high leagues throughout many sports activities, final raised its month-to-month and annual subscription charges in the US in July final yr. (https://reut.rs/3PiCbRG)
During the last yr and half, Disney mentioned 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 looking for new methods to generate extra income amid lowered advert spending and robust competitors within the congested streaming market, with Disney betting on a powerful comeback from live-sports streaming from a pandemic-led lull.
Netflix Inc (NFLX.O), alternatively, has teamed up with Microsoft Corp for its deliberate ad-supported subscription providing, because it seems to be to plug slowing subscriber progress by rolling out a less expensive plan. learn extra
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Reporting by Tiyashi Datta in Bengaluru; Modifying by Krishna Chandra Eluri and Shailesh Kuber
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