Disney+ is on track to surpass Netflix’s total number of subscribers—and now they’re increasing their prices. In their most recent quarter, Disney+ brought in 14.4 million new subscribers, making Disney’s portfolio of streaming services reach 221 million subscribers worldwide. The company announced this week that Disney+, Hulu, and ESPN+ will be getting price increases and Disney+ will be adding a new ad supported tier. The new tier will cost $7.99, which is equal to the current price of the ad-free subscription, but come December 8th, staying ad-free will cost $10.99. YPulse’s Media Consumption report data shows young consumers spend $37.56 a month on streaming services and they typically have three. While money is tight for most young consumers right now, Disney is not seeing any slow downs, especially in their theme parks. While economists have historically noticed families cutting back on Disney trips during economic uncertainty, that doesn’t seem to be the case at the moment. YPulse research shows young consumers know things are expensive, but that’s not stopping them from spending on experiences. (NYT, The Verge)
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