• June 17, 2024

WHOA: Disney Is So Desperate They Cut The Price Of A Big Cash Cow….

The bad news for Disney just keeps on coming.

In an effort to bring back more than 11 million global users who left the platform in the previous quarter, the firm has reduced the cost of its basic membership plan from $7.99 per month to $1.99, according to CNBC on Wednesday.

This decision was made in the midst of a dispute with cable provider Charter Communications, which has resulted in the blackout of several Disney-owned channels on the Spectrum service.

The offer is only valid for the Disney+ ad-supported tier for three months, after which the subscription will automatically renew at the normal price.

The promotional offer is only available for a short period, until September 20.

According to the New York Times, Disney’s streaming division lost $512 million in the most recent quarter.

According to the report, cumulative losses in the streaming business have topped $11 billion since the debut of Disney+ in 2019.

Although only available for three months, the $1.99 per month offering contrasts with the more expensive alternatives given by key companies in the US streaming service industry, such as Netflix, Hulu, and Amazon Prime.

Such an extreme price cut reflects the company’s desperation to get its financial condition back on track after a rocky few years in which its share price has fallen and its reputation has been harmed by its embracing of LGBT programs for youngsters.

Last week, the firm was also hit with a lawsuit from investors who claimed they were misled about the financial health of Disney+.

The complainants said in their petition that Disney had “repeatedly misled investors” about the company’s losses and that these “wrongful acts and omissions” caused a “precipitous decline in the market value” of Disney’s share price, which is now at its lowest level since 2014.

The corporation also stated this week that it will be withdrawing most of its federal lawsuit against the state of Florida, with the exception of a claim that the state violated the company’s First Amendment rights.

The legal battle began last year when the business battled Florida legislation aimed at protecting children under the age of 10 from LGBT indoctrination in public schools, which was branded the “Don’t Say Gay” bill by Disney and left-wing activists.

In response, Florida Gov. Ron DeSantis passed legislation that revoked Disney’s special tax benefits and power to self-govern, resulting in the current legal dispute.



Related post