Disney aims to undercut Netflix with $7-a-month streaming plan

The Simpsons help launch Disney+ — (Image credit: Screenshot/Twiter/Disney)

Walt Disney Co. unveiled new details about its Disney+ streaming service at a splashy presentation Thursday, notably announcing that when it launches Nov. 12, the service will cost $6.99 a month, or $4 cheaper than rival Netflix's most popular plan. Disney said Disney+ will launch with 13 classic Disney animated movies, 21 Pixar films, original series, and material from its Star Wars, Marvel, and National Geographic properties.

Disney roped one of its newly acquired franchises, The Simpsons, into helping launch Disney+, with Homer forcing mouse-ear hats on his family, standing between statues of Darth Vader and Disney CEO Bob Iger, a photo of previous Simpson owner Rupert Murdoch in the trash.

New movies from Disney studios will be released exclusively on the streaming service after their theatrical and home-video runs. Disney said is plans to spend $1 billion on streaming programming over the next year, expects to turn a profit on Disney+ in 2024, and forecasts that two-thirds of its 60 million to 90 million customers will be outside the U.S. "We are confident this is a product people are going to sign up in droves to have," said Iger, who reiterated Thursday that he plans to step down in 2021.

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.