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Reference：https://edition.cnn.com/2023/08/09/business/disney-reports-quarterly-earnings

Disney+ hikes prices as sales sink across the company

By Samantha Delouya, CNN

Updated 8:03 PM EDT, Wed August 9, 2023

The Walt Disney Company is hiking prices for its Disney+ streaming service again, as its third-quarter earnings report showed revenue struggles almost everywhere but international parks.

However, the ad-supported subscription tier has been left out of the latest round of price hikes. That offering from Disney+ will remain at $7.99 per month, according to the company.

On Disney’s fiscal third quarter earnings call, CEO Bob Iger said these pricing decisions were made with the goal of pushing more Disney+ subscribers to the service’s ad-supported option.

The price hike comes after Disney reported that its streaming business remains unprofitable, though it has narrowed its revenue loss in the third quarter.

Streaming subscribers in the US and Canada are pulling back, as well.

Iger also hinted that Disney+ is looking into ways to crack down on password sharing, a strategy that recently helped Netflix add millions of new subscribers.

Questions surround Disney’s linear business

Overall, Disney reported slightly lower than expected revenue for its fiscal third quarter on Wednesday, with revenue shrinking in nearly every division but theme parks.

“While linear remains highly profitable for Disney today, the trends being fueled by cord-cutting are unmistakable,” Iger said. “As I’ve stated before, we’re thinking expansively and considering a variety of strategic options.”

Disney (DIS) shares initially fell in after-hours trading but reversed course to gain 3%.

Almost everything is shrinking except international parks

Disney’s parks were a bright spot, even as the company struggles with declining attendance at Disney World Resort in central Florida.

However, the Disney acknowledged that the division’s growth was partially offset by lower revenue at its US-based domestic parks.

Iger on the Hollywood strikes

Iger also addressed the ongoing writers’ and actors’ strikes in Hollywood after calling strikers’ actions “frankly, very disruptive” in an interview last month.