Disney Plus the Latest Streaming Service to Crack Down on Password Sharing Starting in 2024

[Scumstation]

Disney+ will begin cracking down on password-sharing starting in 2024, Disney CEO Bob Iger announced in today's earning call. The service joins Netflix in trying to stop viewers from sharing passwords as it seeks to stem heavy 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,” Iger said. “Later this year, we will begin to update our subscriber agreements with additional terms and our sharing policies. And we will roll out tactics to drive monetization sometime in 2024.”

Iger admitted that he doesn't know how much cracking down on password-sharing will drive growth for the service, which has lost billions since its original launch. However, Disney's CEO describes it as a "priority."

"In calendar 2024, we're going to get at this issue," Iger said.

Netflix began limiting password sharing earlier this year after losing subscribers. In July, the streamer announced that the move had increased revenue and that new sign-ups were exceeding expectations.

In addition to the password-sharing crackdown, Disney revealed its plans for a price increase. Starting October 12, Disney+ Premium will rise from $10.99 to $13.00 per month, while Hulu will rise from $14.99 to $17.99 per month. It's the second price increase in less than a year for Disney+.

Iger says that Disney remains committed to streaming, describing it as a relatively "young business" that is nevertheless one of the company's core pillars going forward. Disney plans to continue to lean on core franchises for the service, with Star Wars Ahsoka due to premiere later this month, and Loki Season 2 out in October.