Global entertainment giant Disney announced that it will launch its online streaming service Disney+ on November 12 in the United States followed by Europe and Asia next year. The subscription plan will start at $7 a month and at a discounted price of $70 for an annual subscription.
At Disney’s Investor Day event held in California on 11th April, CEO Bob Iger announced, “We are confident that the combination of our unrivalled storytelling, beloved brands, iconic franchises, and cutting-edge technology will make Disney+ a standout in the marketplace, and deliver significant value for consumers and shareholders alike.”
This is lower compared to Netflix’s subscription plan which starts at $9 per month. The Netflix-rival is targeting to acquire 60-90 million users and become profitable by 2024. Disney will release more than 25 original series and 10 original films, documentaries and specials with the launch of the platform.
“The service will offer fans of all ages a new way to experience the unparalleled content from the company’s iconic entertainment brands, including Disney, Pixar, Marvel, Star Wars and National Geographic, and will be available on connected TV and mobile devices,” the company commented.
Disney acquired Hotstar with its acquisition of 21st Century Fox last month. Hotstar will continue to use a separate strategy for the Indian audience. Hotstar has over 300 million monthly active users. On the other hand, Netflix also launched its mobile-only cheaper subscription plans for the Indian market.