Home Business amount Disney’s ESPN+ will increase monthly subscription by $3

Disney’s ESPN+ will increase monthly subscription by $3

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July 15 (Reuters) – Walt Disney Co (DIS.N) plans to raise monthly subscription fees for its ESPN+ sports streaming platform by $3 a month, a 43% increase, the company said on Friday .

The price of an ESPN+ subscription will drop to $9.99 per month starting August 23, while the cost of an annual subscription will drop from $69.99 to $99.99. Subscribers will be officially notified next week.

However, fees for those who get a bundle of all Disney streaming services, including Hulu and Disney+, will not be impacted, the company said.

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Shares of Disney rose nearly 4% in afternoon trading.

ESPN+, which offers more than 22,000 live events including top leagues from many sports, last increased its monthly and annual subscription fees in the United States in July last year. (https://reut.rs/3PiCbRG)

Over the past year and a half, Disney said it has added expanded rights to the National Football League (NFL), expanded rights to Wimbledon and the Australian Open, renewed rights to the popular FA Cup and more on ESPN+.

Media companies have been looking for new ways to generate more revenue amid slashing ad spend and stiff competition in the crowded streaming market, with Disney betting on a resurgence in live sports streaming after a lull brought on by the a pandemic.

Netflix Inc (NFLX.O), on the other hand, has teamed up with Microsoft Corp for its planned ad-supported subscription offering as it seeks to make up for slowing subscriber growth by rolling out a cheaper plan. . Read more

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Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri and Shailesh Kuber

Our standards: The Thomson Reuters Trust Principles.