Disney hikes streaming prices as CEO moves to reassure investors

The media conglomerate said it will raise the price of the ad-free tier of Disney+ by 27%

Bob Iger Photographer: Qilai Shen/Bloomberg

Walt Disney CEO Bob Iger acknowledged that the entertainment company faces a “challenging environment” in the near term on Wednesday, but he emphasized progress in cutting costs and focusing on creativity, even as quarterly results showed Disney's soft spots.

Disney’s stock rose nearly 3% in after-hours trading, as Iger touted $1bn (€909.8bn) in operating-income improvement at the company’s streaming business over the last three quarters, which is aiming for profitability in 2024.