share_log

Disney Shares Rise on Report Of Streaming Price Increase

Benzinga ·  Aug 6 14:47  · Movers

Walt Disney Company ($DIS.US$) shares are trading higher on Tuesday after a report suggested that the company is raising streaming prices by up to 25%. The move affects Disney+, Hulu and ESPN+ and includes new programming options for subscribers.

Why It's Moving: According to a report from Bloomberg, Disney announced substantial price increases for its streaming services. Disney+ with ads will now cost $9.99 per month, marking a 25% increase. The ad-free version will rise by 14% to $15.99 per month and the Disney+ and Hulu bundle with ads will increase by 10% to $10.99 per month. These changes will take effect on October 17.

Starting September 4, Disney+ subscribers will also reportedly have access to ABC News Live and a playlist of preschool programming. Later this year, premium subscribers will gain additional channels focused on documentaries, action films and pop culture.

Earnings Announcement: Disney is set to report its third-quarter earnings on Wednesday August 7, before the market opens. Analysts expect earnings per share (EPS) of $1.20 and estimated revenue of $23.110 billion.

What Else: Netflix Inc. ($NFLX.US$) shares also saw a boost, likely influenced by Disney's positive movement due to the streaming price hikes.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment