The Walt Disney Company (DIS) has taken another step in its efforts to combat password sharing by expanding its paid sharing program for its popular streaming service, Disney+. The new program, dubbed the ‘Extra Member’ add-on, allows account holders to share their Disney+ subscription with someone outside of their household for an additional fee.
This expansion follows the company’s crackdown on password sharing earlier this year. In January, Disney began enforcing new anti-password sharing rules for new subscribers, and in March, these rules were extended to existing members.
With the ‘Extra Member’ add-on, users in the US, Canada, Costa Rica, Guatemala, Europe, and the Asia-Pacific region can now invite friends or family members to enjoy Disney+ for an additional $6.99 per month for Disney+ Basic subscriptions and $9.99 per month for Disney+ Premium subscriptions.
This move signifies Disney’s commitment to monetizing its vast library of content, especially as streaming services face growing competition. While Disney has seen strong growth in Disney+ subscribers, the company is looking to generate more revenue by monetizing shared accounts.
The news of the expanded sharing program comes amidst other significant developments at Disney. Earlier this year, CEO Bob Iger announced a major organizational shake-up within the company’s animation division. Jared Bush, an Academy Award-winning filmmaker, was appointed Chief Creative Officer (CCO) of Walt Disney Animation Studios, while Jennifer Lee stepped back from her role to focus on filmmaking and oversee the Frozen franchise.
As DIS stock continues to perform well, investors are looking to the company’s growth strategies, including the expanded sharing program, for continued success in the streaming market. Investors interested in gaining exposure to DIS can consider ETFs such as the Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) and the ALPS Global Travel Beneficiaries ETF (JRNY).
