“Cancel Disney Plus” is trending on social media platforms following the announcement of another price increase for the streaming platform. The news was revealed during the company’s third-quarter earnings call, which confirmed that the monthly ad-free subscription will increase from $10.99 to $13.99 starting in October 2023.
An increase in prices, and password sharing crackdowns have “Cancel Disney Plus” trending on social media.
According to Cinema Blend, Disney will also be cracking down on password sharing in 2024. However, details about what the process will entail were not disclosed. Once word of these changes hit social media, the “Cancel Disney Plus” hashtag was tacked onto the end of every online complaint from unhappy subscribers.
The phrase has seen a 510 percent increase since the announcement, with a quick search indicating that many people are planning to cancel their subscriptions. “I hate to say it, but I think I’m gonna cancel Disney Plus; I haven’t watched anything on it besides Nat Geo docuseries for the last three months,” one person wrote on social media, echoing the collective sentiment.
For most people, the decision to cancel their Disney Plus memberships isn’t solely motivated by the price increase. Instead, it stems from the increased cost and the realization that they scarcely use the service. Given the volume of streaming platforms, it’s not surprising that some of them are used more frequently than others.
Not Every Disney+ Tier Is Raising Prices
Naturally, Disney is really hoping that users who find the price too expensive, no matter the reason, won’t decide to cancel their Disney Plus subscription. The company would rather have them switch to the more affordable ad-supported plan. This choice, currently priced at $7.99 per month, is intentionally not getting a price hike, as emphasized by CEO Bob Iger in the earnings call.
When the price goes up, Disney+ will definitely make more money. However, if a lot of people end their subscriptions, the service might actually find itself incurring financial losses. It will be interesting to see the outcome in the fourth quarter earnings call. Although, in the short term, “Cancel Disney Plus” may be trending for a while.
Launched in November 2019, Disney+ was created to provide a platform for the entertainment giant’s extensive library of movies, television shows, and other content. It also aimed to serve as a hub for new original programming. The launch of Disney+ marked a significant step for the company as it entered the streaming market to compete with Netflix and Amazon Prime Video.
If a lot of people end their subscriptions, the service might actually find itself incurring financial losses.
The service’s launch was met with much anticipation and excitement, a contrast to the “Cancel Disney Plus” trend. Disney+ debuted with a massive library of content that included classic animated films, original Disney Channel shows, along with Marvel and Star Wars movies. One of its selling points was the promise to deliver exclusive original content that would only be available on the platform.
These exclusives and the extensive back catalog of Disney content helped drive initial subscriber numbers and sustained interest in the platform. However, almost four years after its launch, Disney+ began to struggle with a lack of regular, new content available to all its subscribers. Despite this shortcoming, the company still plans to hike prices, resulting in the “Cancel Disney Plus” trend.