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Walt Disney Company (NYSE:DIS) shares are trading higher on Tuesday after a report suggested that the company is raising streaming prices by up to 25%. The move affects Disney+, Hulu and ESPN+ and includes new programming options for subscribers.
Why It’s Moving: According to a report from Bloomberg, Disney announced substantial price increases for its streaming services. Disney+ with ads will now cost $9.99 per month, marking a 25% increase. The ad-free version will rise by 14% to $15.99 per month and the Disney+ and Hulu bundle with ads will increase by 10% to $10.99 per month. These changes will take effect on October 17.
Starting September 4, Disney+ subscribers will also reportedly have access to ABC News Live and a playlist of preschool programming. Later this year, premium subscribers will gain additional channels focused on documentaries, action films and pop culture.
Earnings Announcement: Disney is set to report its third-quarter earnings on Wednesday August 7, before the market opens. Analysts expect earnings per share (EPS) of $1.20 and estimated revenue of $23.110 billion.
What Else: Netflix Inc. (NASDAQ:NFLX) shares also saw a boost, likely influenced by Disney’s positive movement due to the streaming price hikes. The shares were up 2.66%, trading at $614.45, according to Benzinga Pro.
DIS Price Action: Shares of Disney rose at $90.37, up 2.94% at the time of writing, according to Benzinga Pro.
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