The Walt Disney Company is set to implement significant price increases across its major subscription streaming services starting October 21. This move reflects a broader trend among media companies to raise streaming service prices, aiming to boost profits after substantial investments in the sector, according to a Bloomberg report. A company spokesperson clarified to Bloomberg that these price adjustments had been planned for several months and are entirely unrelated to recent events concerning the Jimmy Kimmel Live! show.

Subscribers will see various changes to their monthly bills. Disney+'s ad-supported plan will increase by $2, bringing its cost to $11.99, while its ad-free tier will jump by $3 to $18.99. Hulu is following suit on the same day, with its ad-supported plan rising by $2 to $11.99. Furthermore, ESPN Select will experience a $1 hike, making its monthly cost $12.99. Several bundled plans that include Disney+ will also see corresponding price increases.

These price adjustments are part of Disney's strategic push to enhance the profitability of its online video platforms. Earlier this year, the company set an ambitious target of achieving $1.3 billion in operating income from streaming by fiscal year 2026, an increase from its previous forecast of $1 billion. In its most recent earnings statement in August, Disney reported adding 1.8 million new subscribers to its flagship Disney service in Q3FY26, bringing the total subscriber count to 128 million.

To combat slowing subscriber growth for its namesake platform, Disney has been actively integrating its Disney and Hulu streaming services into a unified app. This integration includes a broader array of programming, such as content from ABC News. The entertainment giant, headquartered in Burbank, California, also introduced a new ESPN streaming service priced at $30 per month to consolidate its sports programming. Additionally, Disney is offering discounted rates for bundled services, though the cost of some of these bundles has also risen. It's worth noting that Disney had previously increased the price of its services by as much as 25 percent last year. (With inputs from Bloomberg)