Disney+ is getting more expensive... unless you want ads - CNN
Aug 10, 2022 1 min, 38 secs
The service notched 14.4 million subscribers in the third quarter, exceeding Wall Street expectations.

The results sent shares up as much as 6.5% in after-hours trading.

As for the company's overall earnings, Disney (DIS) notched $21.5 billion in revenue for the second quarter, up 26% from last year, and reported a net profit of $1.4 billion, up 53% from a year ago.

Disney noted that it has 221 million subscribers across its multiple streaming offerings.

On Wednesday, it provided a new guidance of 135 million to 165 million subscribers for its core Disney+ product, and as much as 80 million for its Disney+ Hotstar service in India.

"We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services," Bob Chapek, Disney CEO, said in the company's letter to investors on Wednesday.

Why Disney+ is going up in price

Disney+ isn't the only Disney streaming service that's going up in price.

Hulu, which is majority owned by Disney, will also get a price bump, up $1 to $7.99 for its ad-supported tier and $2 to $14.99 for Hulu with no ads.

One plan that's not getting a price hike is the premium Disney Bundle, which ties together the company's streaming offerings of Disney+ and Hulu with no ads alongside ESPN+.

Hulu also has feature films from 20th Century Studios and shows from FX, among other buzzy content.

Kareem Daniel, chairman of Disney media & entertainment distribution, said in a statement Wednesday that the new ad-supported offering as well as the company's new lineup of streaming plans will "be providing greater consumer choice at a variety of price points to cater to the diverse needs of our viewers and appeal to an even broader audience."

More than just streaming

Disney's strong third quarter wasn't just on the back of Disney+.

The company's parks, experiences and products unit had a very strong quarter, bringing in revenues of $7.3 billion, up 70% over the same quarter last year.

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