Keys to the Magic Kingdom
Bad news for everyone using a friend’s account to rewatch Frozen or keep up with the ever-expanding Star Wars universe: Disney+ is the latest streamer to start cracking down on password sharing.
In a strongly-worded email to Canadian subscribers, the company laid out vague plans to “implement restrictions” stopping users from sharing login details with anyone outside of their household after November 1st — a move Disney will likely roll out worldwide soon.
Sub-standard
Tenants currently living rent-free in the House of Mouse will have to cough up or pack up, with the cost of a premium monthly subscription set to jump 27% — from $10.99 to $13.99 — on October 12th for US customers. The policy and price changes come as Bob Iger looks to drag the streaming service out of the red: losses have risen to over $11 billion since the service launched in 2019.
While getting the streamer to profitability by 2024 was always the intention, some parts of the plan haven’t been shaking out exactly as execs had expected. Back in August 2022, when Disney still set subscriber forecasts, it set a goal of 215-245 million for 2024, which the company now reportedly expects to fall tens of millions short of.
Indeed, largely thanks to shedding subscribers in India after losing vital streaming rights to its national cricket league, Plus’s sub count has actually been trending in the wrong direction, finishing the third quarter with just 146.1 million — 18 million fewer than they had at the end of last year.
