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Disney Plus to raise US subscription price by $1 to $8 a month in March

Disney Plus launched last year for $7 a month in the US, and it quickly shot up in popularity. In June, it got rid of one-week free trials. Now, it's hiking prices.

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Disney Plus launched in November 2019 to high demand and has quickly become one of the biggest streaming services by subscribers in the US. 

Angela Lang/CNET

Disney Plus is raising its US price by $1 to an $8-a-month subscription starting in March, after Disney launched the streaming service in November 2019 to enormous popularity. In continental Europe, prices are going up by two euros to nine euros a month, and it will be making similar adjustments in other markets where Disney Plus is charged in local currencies. 

"These price increases reflect an increase in the underlying value of the Disney Plus product offering," Chief Financial Officer Christine McCarthy said Thursday. 

By comparison, Netflix's most popular plan costs $14 a month, after the streaming giant raised its own prices earlier this year. Netflix's cheapest tier is $9, and its premium package -- which unlocks perks like 4K resolution, HDR image quality and the ability to stream on four devices at the same time (benefits that Disney Plus offers standard) -- costs $18 a month. 

Disney revealed the news Thursday during an investor presentation expected to detail Disney's overall streaming strategy for the next year and beyond, as well as unveil how the company's big slate of movies will be released while the pandemic continues to keep film fans out of cinema seats. The event was expected to explain plans and goals for Disney PlusHulu and ESPN Plus, as well as international streaming services Star and Disney Plus Hotstar. 

Read moreAll the news from Disney Plus event

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