Disney revamps streaming prices after losing 11.7m customers in three months

Disney has revamped the pricing of its video streaming service after the company shed 11.7m customers in three months.

The media giant said that, while standard subscriptions will remain £7.99 a month for viewers in the UK, there will now be a more expensive premium version, priced at £10.99 a month. 

The premium version will offer higher image quality and the ability for four different people to watch at once.

A budget offering, costing £4.99 for Disney Plus, will require users to watch adverts alongside their favourite films. 

Walt Disney chief executive Bob Iger said the company continues to face a ‘challenging environment’ but was focused on trimming costs.

He also vowed to crack down on password sharing – following in the footsteps of its rival Netflix.

For the three months to July, group revenue increased 4 per cent to £17.5billion, just short of Wall Street estimates of £17.6billion. 

But it was lifted by the recovery of its theme parks, especially parks outside of the US.