MUMBAI: Walt Disney Co has finally revealed the long-awaited details of its upcoming streaming service on its Investor Day. Disney, which is set to launch on 12 November has been priced at $7 monthly and $70 annually.
The new streaming service is dedicated for movies or shows from Disney Pixar, the “Star Wars” franchise, National Geographic and Marvel. Along with its rich content library, a cheaper subscription plan compared to Netflix is going to help Disney+ take on the digital dominance of the Reed Hastings-led over-the-top (OTT) platform.
In its first year, the Disney streamer will release more than 25 original series and 10 original films, documentaries and specials by some of the industry’s most prolific and creative storytellers. Moreover, all 30 seasons of The Simpsons will be available on the service fromday one.
“Disney+ marks a bold step forward in an exciting new era for our company—one in which consumers will have a direct connection to the incredible array of creative content that is The Walt Disney Company’s hallmark. We are confident that the combination of our unrivaled 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,” Disney chairman and CEO Bob Iger said.
While the launch on 12 November is only for the domestic market, it intends to roll out the streaming service in Europe and Asia next year. The company expects subscribers to the tune of 60 million to 90 million by 2024.
The company has pledged to use the full reach of its empire including cruise line, global theme parks, retail stores, hotels and television networks like never before for marketing its new product. Disney is among a handful of traditional media companies that is pumping huge money to face the challenge of cord-cutting as well the FANG companies.