Welcome back to Subscriptions Weekly! This edition is all about streaming services – the leaders, their offerings, and retention strategies.
Disney+ increases prices, continues to grow subscribers
Disney+ sets on the lead with subscribers, adding 14.4 million users during Q2. To capitalize on growth, the streaming service will raise its ad-free monthly subscription to $10.99 to launch its ad-backed tier for $7.99 in December.
The company expects a positive response on this ad-supported tier. Kareem Daniel, a Disney executive, said this two-tier pricing system allows Disney to provide “greater consumer choice at a variety of price points to cater to the diverse needs of our viewers and appeal to an even broader audience.” Learn more on The Washington Post.
Paramount+’s next stop: Italy
Paramount+ continues to expand globally and will be arriving in Italy next month. The streaming service will launch with 8,000 hours of content for all tastes, including global and Italian original productions, and exclusive programming for €7.99 ($8.27) monthly. Read more on Variety.
What’s Paramount’s secret to growth and expansion? Oscar Wall, General Manager of EMEA at Recurly, tells us all about it in his article: The prescription for subscription growth.
Walmart to join streaming?
It’s no surprise that Walmart has been trying to join the entertainment business. While there are no offerings in sight, they’ve reached out to top-notch streaming services like Paramount, Disney, and Comcast about what content they can offer to Walmart+ subscribers. Learn more on The Verge.
Netflix experiments with gaming
The streaming brand is all-in on gaming as part of its retention strategies. However, only 1% of its consumers are engaging. Netflix plans to release 50 popular and original titles by the end of 2022. Learn more on Front Office Sports.
The rising competition and cost of living have subscribers reprioritizing subscriptions, and brands must adjust. Check out our latest report, What subscribers want: Insights to future-proof your business, to get actionable insights on subscriber behavior.
HBO Max and Discovery+ to merge in 2023
During next year, worldwide consumers will enjoy HBO Max and Discovery+ as one streaming service. While this was announced a few months back, Warner Bros. Discovery has revealed more details on this merge: their main focus is to cut churn and grow their subscriber base. Read more on Variety.