Jan Koeppen, the President of Walt Disney Company EMEA, intelligently remarked that the introduction of the ad-supported plan signifies the next phase of evolution for Disney+ in the UK. This strategic move aims to offer more choices to customers and foster mutually beneficial relationships with world-class advertising partners. Koeppen also emphasized how Disney+ stands out in the streaming industry by providing exceptional value, genre-defining TV series, and blockbuster movies, all within a user-friendly and seamless experience.
Netflix recently implemented a similar approach by introducing a reduced rate of £4.99 for ad-supported viewing, discontinuing its basic £6.99 service, and adding a £10.99 monthly standard package that allows for simultaneous streaming on multiple screens. Additionally, Netflix offers a “Premium” subscription at £15.99 per month, granting customers the opportunity to watch shows on four screens in high definition simultaneously.
The streaming market has become increasingly competitive with the entry of new players like Apple TV+ and Paramount+. In 2020, Disney joined the UK streaming market in an attempt to rival NowTV and Amazon Prime. Earlier this year, former CEO Bob Iger was brought back to lead the company and focus on cost management.
In its fiscal third quarter, Disney reduced losses for its streaming video services to $512m (£400m), a significant improvement compared to the approximately $1.1bn loss from the previous year.
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