Bob Chapek Explains Why Disney+ Price Increases Are In The Works. There is no denying the success of Disney+ since its launch in late 2018, having garnished over 100 Million paid subscribers worldwide in just 2 years of service. Though Disney+ has already seen one price hike, Disney CEO Bob Chapek has shared there will be more on the way.
Chapek explained the decision comes mostly after the effects of the pandemic linger in the public, but was always part of the plan for the streaming service, stating: “One of the things we learned is flexibility is good because there’s two dynamics going on: One is people’s willingness to return to theaters and theaters’ ability to return in a meaningful way,” Chapek said. “And then the second is the change in consumer behavior that’s happening naturally, with COVID probably acting as a bit of a catalyst, but was going to happen anyway.”
Related: CEO Bob Chapek pushes for full reopening by the end of Q4
“We’re trying to offer consumers more choice as they gain confidence in how they want to go ahead and return to theaters,” Chapek added, “We’re seeing some hesitancy to return [to movie theaters] in a way that would look anything like normal back in 2019 and as such, during this sort of interim period, it’s really nice to be able to give consumers some flexibility.”
Currently, the price guide for Disney+ and related bundles is as follows:
- Disney+ (Monthly $7.99 USD/ Annual $79.99 USD)
- Disney+, Hulu, and ESPN+ ($13.99 USD)
- Disney+, Hulu (ad free), and ESPN+ ($19.99 USD)
- Disney+, Hulu + Live TV, and ESPN+ ($72.99 USD)
- Disney+, Hulu (ad free) + Live TV, and ESPN+ ($78.99 USD)
It is currently unknown what kind of price increases we will see in the coming years, but
Related: Bob Chapek says Guest Satisfaction is higher now than before COVID-19 Closures
“We’ve increased our investment in creative content to ensure that all channels have a full compliment of offerings to sort of keep everybody happy,” he said. “We want to make sure, given the importance of Disney+ in the marketplace and our shareholders, that we keep feeding that machine.”
Be sure to check back here at Chip and Co. for updates and all things Disney+!
Featured Photo Credit: Bloomberg
Source: Media Play News
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