As Netflix did earlier this year, Disney also plans to limit password sharing on its streaming service, Disney Plus.
During a conference held last Wednesday (09), Disney CEO Bob Iger stated that the company is "actively exploring ways to address the problem of account sharing." According to him, the company has the "technical capability" to "solve this problem" before 2024.
What will be the tactics to boost Disney Plus?
Iger made it clear that among the plans to push Disney Plus forward, ending password sharing has already been prioritized. "We really think there's an opportunity here to help us grow our business," the CEO said during the conference call.
But this isn't the only plan for streaming revenue. Iger also announced the launch of an ad-free package with Disney Plus and Hulu in the US. The package will be available for subscription starting September 6 for a monthly fee of $19.99. With this new type of subscription, however, prices for those wishing to subscribe only to Disney Plus or Hulu individually will increase on October 12.
The Disney Plus plan without ads will cost $13.99/month, while the Hulu plan will cost $17.99/month. Plans with ads will keep their prices for the time being.
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AI and "non-core" sales are in the plans to cut costs.
It was recently reported that The Walt Disney created a task force earlier this year focused on studying and developing artificial intelligence. The new technologies could be used in interactive characters in the company's theme parks and also to reduce costs in the production of special effects for Disney movies and series.
In July, in an interview with CNBN, Iger also revealed that plans to cut costs include a reduction in Marvel and Star Wars productions and the possible sale of some cable TV networks that are not "essential" for Disney. These include National Geographic, ABC and FX.
During Wednesday's conference call, the CEO said he believed three core businesses should drive Disney's growth. "They are our movie studios, our parks and streaming businesses, all of which are inextricably linked to our brands and franchises," Iger explained.
Bob Iger recently renewed his contract at the helm of Disney until at least 2026. Last year, the CEO had already implemented cost-cutting measures: layoffs and content cuts at Disney Plus and Hulu. Currently at the helm of one of Hollywood's biggest studios, he is also dealing with negotiations over the writers' and actors' strike. The strikers are fighting for better working conditions and pay and for regulation of the use of AI in the entertainment industry.
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