Disney+ will cost $6.99 per month, while Netflix recently raised its price to $13 per mont.
Netflix tumbled more than 4% on Friday after Disney unveiled its Disney+ streaming service and pricing for the first time. The drop shed more than $7 billion from Netflix's market value, though it is up about 13.5% over the past 12 months.
Disney+ and Netflix could certainly coexist in consumers' library of streaming services. Disney CEO Bob Iger made clear that the new service is aimed at kids, saying that other offerings like sports and adult content are available on their other services like ESPN+ and Hulu. The analysts added that in a recent survey conducted by the firm, only 8% of existing Netflix subscribers who responded expect to churn to Disney+, while 59% expected to continue to subscribe only to Netflix. Twenty-four percent of respondents expected to subscribe to both services, according to the survey.
Still, other analysts see a significant threat in Disney's offering. Mark Mahaney of RBC Capital Markets told CNBC Friday that Disney has a"major advantage" over Netflix because it does not need to spend much to build up its already-full content library.
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