LOS ANGELES : Walt Disney surpassed Netflix with 221 million streaming customers and announced that fees for customers who wish to watch Disney+ or Hulu without advertisements will rise.
In December, it will hike the monthly cost of Disney+ without advertising by 38% to $10.99 when it launches a new option that includes advertisements for the same price.On Wednesday, Disney shares surged 6.9% in after-hours trade to $120.15.
In 2017, Disney placed its future on developing a streaming service to compete with Netflix, as viewers shifted away from traditional cable and broadcast television and toward internet viewing.Disney has surpassed Netflix in total streaming customers after five years.
The Mouse House attracted 14.4 million Disney+ customers when it released “Star Wars” series “Obi-Wan Kenobi” and Marvel’s “Ms Marvel,” beating the consensus of 10 million experts polled by FactSet.
