This week, Disney CEO Bob Iger announced that Disney+ will begin cracking down on password sharing starting in 2024, and subscribers will also see an increase in rates. The reason for the crackdown on passwords is “to stem heavy financial losses,” says the CEO of one of the richest companies in the world. And twelve dollars a month from a group of people who have a hard time paying for something that costs twelve dollars should do the trick.
“We’re actively exploring ways to approach account sharing and the best options for paying subscribers to share their accounts with friends and family,” Iger said. “Later this year, we will begin updating our subscription agreements with additional terms and our sharing policies. And we will roll out tactics to drive monetization in 2024.”
IGN reports that after Netflix decided to limit password sharing earlier this year, the streamer announced that it had increased revenue and that new sign-ups were exceeding expectations.
Beginning October 12, Disney+ Premium will go from $10.99 to $13.00 a month, while Hulu will go from $14.99 to $17.99 a month. It is the second price increase in less than a year for Disney+.
Iger says Disney remains committed to streaming, describing it as a relatively “young” company that is nonetheless one of the company’s key pillars for the future.
by Jessica Fisher
Source: Geek Tyrant
Lloyd Grunewald is an author at “The Fashion Vibes”. He is a talented writer who focuses on bringing the latest entertainment-related news to his readers. With a deep understanding of the entertainment industry and a passion for writing, Lloyd delivers engaging articles that keep his readers informed and entertained.
