to 146.1 million in the second quarter. Starting in October, Disney will raise the prices for both ad-free and ad-supported tiers of Disney+ and Hulu by at least 20%. Following the price increases, ad-free Disney+ will cost $13.99 per month and ad-free Hulu will cost $17.99 per month.
Music services have been far more hesitant than streaming video-on-demand services to raise prices. Spotify just increased its individual plan price in the United States — by $1 to $10.99 — for the first time since launching in 2011. By contrast, Huluand has increased its the price of its ad-free tier by 39% in less than a year.
Music stocks’ decline mirrored stocks’ broad declines this week. In the United States, the S&P 500 and the Nasdaq composite fell 0.3% and 1.9%, respectively. In the United Kingdom, the FTSE 100 was down 0.5%. South Korea’s KOSPI composite index declined 0.4%. News that the U.S. producer price index, a gauge of wholesale prices,Daily newsletters straight to your inbox
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Music Industry Moves: Belinda Signs to Warner Music LatinaBelinda has signed a deal with Warner Music to start a new phase in her long career as a Mexican pop artist and actress. Belinda has been involved in various business ventures in television, fashion, and music, and gained fame as a child actress in popular Mexican soap operas.
Source: Variety - 🏆 108. / 63 Read more »
Ed Sheeran, Linkin Park Releases Help Drive Warner Music RevenueWarner Music Group's CEO, Robert Kyncl, highlights the strong third-quarter results driven by the success of Ed Sheeran and Linkin Park releases. The company's net income increased slightly to $125 million, while adjusted operating income before depreciation and amortization (OIBDA) rose by 16 percent, or 18 percent in constant currency terms, reaching $297 million.
Source: THR - 🏆 411. / 53 Read more »
Warner Music Rebounds in Q3, Beating Expectations With 9% Revenue JumpWarner Music Group (WMG) has reported a 9% increase in revenue in the third quarter, surpassing expectations. The rise in revenue was mainly driven by a strong lineup of music releases, including albums from popular artists such as Ed Sheeran, Linkin Park, and Melanie Martinez. The company's recorded music revenue also saw a significant increase of nearly 8%. WMG's CEO, Charlie Puth, expressed optimism about the future, stating that the company is gaining traction and expects continued strength as price increases from streaming platforms like Spotify and YouTube start to impact their financials.
Source: billboard - 🏆 112. / 63 Read more »