Disney will offer its upcoming Disney+ streaming service, as well as ESPN+ and Hulu, in a new subscription bundle for $12.99 per month, prompting “RIP Netflix” to trend on Twitter late Tuesday.
Bob Iger, the chairman and CEO of Disney, made the announcement during the company’s quarterly earnings call on Tuesday. Disney+ is expected to launch Nov. 12, and is being positioned as the entertainment giant’s answer to the streaming giant, whose standard plan recently rose in price to $12.99 per month from $10.99.
As a standalone service, Disney+ will cost subscribers $6.99 per month. By offering to bundle the service with the existing ESPN+ and the commercial-supported version of Hulu, Disney is providing consumers with an attractive alternative to Netflix, which doesn’t feature live sports programming.
Disney+ is expected to offer original content as well as movies and TV shows from the libraries of Disney and the recently acquired Fox.
“RIP Netflix” starting trending on Twitter late Tuesday following Disney’s announcement.
The major Hollywood studios are gearing up to take on Netflix, which boasts more than 150 million subscribers worldwide. In addition to Disney, WarnerMedia is planning to launch its own streaming service that is expected to launch next year. NBCUniversal is also working on its own streaming platform.
The California-based company has relied heavily on licensed movies and TV shows from other studios to bolster its subscriber base. Now the studios are aiming to lure those audiences back to their own folds.
Disney announced two years ago that it will be phasing out its content licensing deal with Netflix, pulling its popular movies and TV shows from the streamer. WarnerMedia said in July that it will pull Friends from Netflix in 2020, while NBCUniversal is pulling The Office.
The streamer reported last month that its domestic subscriber base declined for the most recent quarter, an ominous sign for investors who closely watch the company’s subscriber growth as an indication of future profitability. The news sent Netflix stock down more than 10% that day.
Follow David Ng on Twitter @HeyItsDavidNg. Have a tip? Contact me at firstname.lastname@example.org