Disney Plus to raise prices as company bets its future on streaming

Disney chief executive Bob Chapek

Disney said it would continue to release some films in the cinema first, distancing itself from Warner Bros, which last week said it would release its entire slate of 2021 films on the HBO Max streaming service. However, it said several of the films it had planned to release in theatres would be pushed to Disney Plus, an indication of where the company’s priorities lie.

Disney said it would release 15 animated films directly on Disney Plus over the coming years. The company unveiled a massive slate of upcoming shows and films based on its top franchises during a four-hour investor presentation on Thursday, including new Star Wars and Marvel titles.

Reflecting the surprising success of Disney Plus, the company hiked forecasts for the streaming service. The company had originally said it expected to reach between 60m and 90m users by 2024, but said it now expected this to be 230m-260m.