According to the company’s announcement on Friday, Walt Disney Co. intends to increase the monthly subscription fee for its sports streaming service ESPN+ by $3, or 43%.
Starting on August 23, a monthly subscription to ESPN+ will cost $9.99, while an annual subscription will cost $99.99, up from $69.99. The subscribers will formally be informed the following week.
The cost for consumers who purchase a package that includes Hulu and Disney+ as well as all of Disney’s streaming services won’t change, the firm said.
Disney stock increased by over 4% in afternoon trading.
The last time ESPN+ increased its monthly and yearly subscription prices in the United States was in July of last year. ESPN+ offers more than 22,000 live events, including the top leagues in numerous sports.
According to Disney, it has added more expanded National Football League (NFL) rights, Wimbledon and Australian Open rights, renewed rights for the well-known FA Cup, and more on ESPN+ during the past year and a half.
Amidst decreased ad spending and fierce competition in the crowded streaming industry, media corporations have been looking for new ways to increase revenue. Disney is counting on a significant rebound from live-sports streaming after a pandemic-driven slump.
On the other hand, Netflix Inc. has partnered with Microsoft Corp. for its next ad-supported subscription service as it attempts to address sluggish member growth by launching a more affordable plan.
