Hulu. ESPN+. And of course Disney+.
These streaming platforms all belong to the Disney Group. And the prices for all of them will rise.
CNN reported that the corporate giant announced on Tuesday its intention to raise prices for the above-mentioned streaming services.
Although this division was Disney’s first ever profit in the third quarter, CNN points out that this price increase comes during a volatile period for media companies, driven by constantly and rapidly changing consumer behavior, increased business costs, the revival of the labor movement in Hollywood and stricter regulations.
Disney’s parks are also seeing a decline in business: Hugh Johnston, Senior Executive Vice President and Chief Financial Officer, recently explained in a company conference call that the locations were suffering from greater financial pressure from lower-income park visitors, while higher-income consumers are now more likely to prefer international travel.
According to CNBC, prices for Hulu, ESPN+ and Disney+ will increase starting Thursday, October 17. Most of each provider’s plans will cost between $1 and $2 a month, with Hulu’s most expensive plans – which include the Live TV extension – increasing by about $6.
The same CNBC report notes that there will be no price increase at all for the $19.99 ad-free Disney+ and Hulu package offered by Disney.
The Associated Press contributed to this report.
