Disney to raise prices on Disney+, Hulu subscriptions, Bloomberg News reports

Sept 23 (Reuters) - Disney ‌will raise ​prices ​on several streaming subscriptions, including its flagship ad-free Disney+ plan, Bloomberg News reported on ‌Wednesday, citing people familiar with the matter.

Major ⁠streaming platforms have steadily increased subscription prices and rolled out ‌advertising-backed plans as they ‌look to drive revenue growth, offset rising content costs and improve the profitability of their digital ​businesses.

The monthly price of ad-free Disney+ will rise by $2.50, or 13%, to $21.49, according to ⁠the report. Disney is expected to begin notifying customers of the changes ​as early as Wednesday.

The price of Hulu without advertising will also increase by $2.50 per ​month, while the monthly cost ‌of an ad-free Disney+ and Hulu bundle will rise by $2 to $21.99, Bloomberg ⁠reported.

Disney did not immediately respond to a Reuters request for comment.

The company will also raise the price of ⁠standalone ad-supported Disney+ and Hulu subscriptions by 50 cents to $12.49 ​a month, Bloomberg said. The price of the ad-supported Disney+ and Hulu bundle will remain unchanged at $12.99 per month.

Last ‌week, Disney named Karandeep Anand its first chief technology officer and elevated Adam ‌Smith to lead its streaming business, as the ⁠company sharpens its focus ‌on Disney+, Hulu ​and technology across its entertainment operations.

(Reporting by Anzar Mehraj in Bengaluru; Editing by Joyjeet ‌Das)

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