Disney on Thursday announced that its Disney+ streaming service has hit 86.8 million subscribers. It reached that milestone in just 13 months after its launch. Disney also announced that it will raise the price of the popular streaming service by $1 per month, starting March 26, 2021.
The monthly cost for Disney+ will increase to $7.99 a month or $79.99 per year. The Disney Bundle, which includes Disney+, Hulu, and ESPN Plus, will also increase by a dollar to $13.99 a month.
Both bits of news came on Disney Investor Day, which saw the company announce new franchises and content coming to the service, including 10 new Marvel series, 10 new Star Wars series, and multiple Disney Animation studios projects.
Disney appears to be following Netflix’s lead when it comes to price increases. Disney’s streaming rival last raised its prices in October. Netflix COO Greg Peters said that if Netflix is delivering more value for users, then there is “an opportunity to occasionally go back” and ask members “to pay a little bit more.” Apparently, Disney feels the same way about its service.