After Netflix successfully implemented its password-sharing crackdown, another streaming platform is planning to do the same: Disney+.
In its recent earnings call, Disney CEO Bob Iger announced that they will start cracking down on Disney+ password-sharers starting next year, 2024. The goal is to stop users from sharing passwords as it addresses financial losses.
“We are actively exploring ways to address account sharing and the best options for paying subscribers to share their accounts with friends and family,” said Iger. He said that they will start to update their subscriber agreements later this year by adding new terms and sharing policies in preparation for the rollout of new tactics that aim to “drive monetization sometime in 2024.”
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Iger admitted that they’re still not sure how intense the crackdown will be to help foster growth, but they consider the move a top priority as the company has already lost billions since Disney+ first came out.
Still, it could definitely help Disney+’s money-bleeding problems. Netflix, after implementing its new password-sharing rules, announced that the move helped increase its revenues as new sign-ups went beyond expectations.
What’s more, Disney announced the price increase for Disney+. Come October 12, the Premium tier will cost USD13 from USD10.99. Whether the price hike will apply in markets like the Philippines are yet to be known.