The increases will raise the monthly cost of ad-free Disney+ by $3, or roughly 27%, to almost $14. The cost of ad-free Hulu will likewise rise $3 to almost $18 -- a 20% hike that will make it more expensive than the most popular ad-free tier at Netflix.
Walt Disney Co. CEO Bob Iger vowed to make its streaming services profitable via a planned October price hike on its ad-free Disney+ and Hulu plans and a crackdown on password sharing expected to extend through next year.
The service had 146.1 million international customers in its third quarter, a 7.4% decline from the 157.8 million it reported in the second quarter. That followed a loss of 4 million streaming subscribers in the second quarter. Domestically, it shed 300,000 subscribers in the third quarter, the same number it lost in the second quarter.
Some analysts doubted whether price hikes and getting tough on password sharers can do much to lead Disney back to sustainable growth. Paul Verna, an analyst with Insider Intelligence, said in a note that the company's moves aren't likely to calm investors"anxious for clarity on the company's strategy for its streaming services and TV networks."
Iger, who returned in November to take over the CEO post from Bob Chapek, has worked over the past several months to turn around Disney's streaming business while making sure that the financial might of its theme parks doesn't waver.
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