Disney+ costs $6.99 a month, but most people are willing to pay more, survey finds
Disney’s new streaming service will cost subscribers $6.99 a month — but the majority of people said they are willing to pay up to $20 to access its movies and shows.
About 60 percent of internet users said they are willing to pay up to $20 for the subscription-based service, a survey conducted by market research firm GlobalWebIndex found.
The survey of more than 5,500 people in the United States and United Kingdom showed nearly one-third of responders would pay between $5 and $10, while another 18 percent would sign up for Disney+ if it cost $10 to $20. Two percent of those surveyed said they would pay more than $30 for the Disney service.
Not everyone plans to sign up for Disney+, which is set to launch later this year. The survey found 31 percent of internet users said they don't plan on subscribing to the platform.
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Disney+ joins a growing list of streaming services set to launch in the next few months — causing increasing competition in the market largely dominated by Netflix, Hulu and HBO.
As more companies launch new streaming services, customers will have to decide whether to pay for another subscription or forfeit watching some of their favorite movies and TV shows.
The majority of those GlobalWebIndex surveyed who said they were Disney fans now subscribe to Netflix, which has Disney content on its platform. Disney’s new streaming service will cost people half of what they pay for a standard Netflix subscription. People also have the annual option of $69.99
To compete with other services, Disney+ will also have original programming, as well as its own intellectual property -- eventually including classic films like "The Lion King" and "Snow White.”
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Disney’s video platform will also have offerings from Pixar, Star Wars, Marvel and property acquired as part of the recent $71.3 billion purchase of key 21st Century Fox assets, like "The Simpsons" and National Geographic.
Disney plans to bundle Disney+, Hulu and ESPN+ together at a discounted price but did not disclose what the cost would be.
Fox Business' Joe Williams contributed to this report.