this post was submitted on 11 Aug 2023
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This is the best summary I could come up with:
Disney is raising the price of its streaming service Disney+ around the world, but it plans to offer a cheaper version supported by advertising in Canada starting in November.
Disney CEO Bob Iger acknowledged that the price hikes are intended to steer consumers toward cheaper ad-supported versions of these services, in order to keep them as customers.
Disney's announcement of new pricing plans for its streaming service comes as the company reported financial results showing it's losing customers and money in its legacy businesses.
Paul Verna, an analyst with Insider Intelligence, said in a note that its moves aren't likely to calm investors "anxious for clarity on the company's strategy for its streaming services and TV networks."
Higher sports programming production costs and lower revenue due to cord cutting dragged down the performance of its cable channels.
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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