New Streaming Service, Disney+, to Launch Fall 2019 for $6.99/month

Disney said Thursday it will roll out its much anticipated Disney+ video streaming service on Nov. 12, drawing a its deep catalog of content and offering up new shows featuring favorite characters from “Monsters Inc.” to Marvel to “Star Wars.”

The service will cost subscribers $6.99 per month, or $69.99 per year, which is at the high end of what many analysts had expected.

“Today’s presentation will show you where we’re going, but also remind you that we are starting from a position of strength and optimism,” CEO Bob Iger said during the company’s investor day Thursday.

Analysts had expected the service would cost $5 to $7 per month, which is around half of what Netflix costs for its standard HD plan. Disney had signaled that it intended for the platform to be much cheaper than its rival.

Disney said it expects it will spend about $1 billion in 2020 on original content for the platform and $2 billion by 2024.

The company is also forecasting it will have between 60 million and 90 million subscribers by the end of 2024. One-third of those subscribers will be domestic and two-thirds will be international, the company said.

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SOURCE: Sarah Whitten, CNBC