On December 8, Disney will introduce an ad-supported version of the flagship streaming service and raise the price of the ad-free option to $11 a month, the entertainment giant said Wednesday. Prices for some packages that include Hulu and ESPN+ will also rise.
The price increases, subscriber gains and a strong third-quarter performance from Disney's namesake theme parks may help reverse investor sentiment that sent the shares down 27% this year through Wednesday's close. The company added 14.4 million new Disney+ subscribers in the quarter, beating analysts' estimates of 9.8 million and bucking the downdraft that's hit Netflix.
While Disney "shares have under performed, the business has continued to outperform," analysts at Morgan Stanley wrote in a note following the results.
This story is from the August 12, 2022 edition of Financial Express Mumbai.
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This story is from the August 12, 2022 edition of Financial Express Mumbai.
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