DISNEY is taking on NETFLIX with Verizon’s millions of customers offering DISNEY+ (DISNEY PLUS) for free for one year.
NETFLIX, despite missing on most metrics during its earnings earlier in the week, Netflix shares soared back above $300 as shorts squeezed and hope ruled.
Since that time, things have not gone so well as the cash-burning machine has seen profit-taking slam the stock lower and news this morning of Verizon unveiling plans to offer its wireless subscribers 12 months of free access to Disney’s newest streaming service Disney+ is not helping at all.
Disney+ is set to launch for Nov. 12 for $6.99 per month, which Verizon plans to offer to existing Verizon mobile customers and new Fios Home customers for free.
Verizon will offer all new and existing Verizon Wireless unlimited customers, new Fios home internet customers and new 5G home internet customers a year of Disney+ for free.
It will give Disney+ millions of subscribers right when it launches, which will help it gain traction as it competes with Netflix, Amazon, HBO and Apple.
Disney+ launches Nov. 12.
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Verizon will give customers 12 months of Disney+ for free
Verizon on Tuesday announced that it will offer its customers a year of Disney+ for free.
The deal will be available to new and existing Verizon wireless unlimited customers, new Fios home internet and 5G home internet customers, the company said. People who already pre-ordered the Disney+ service are still eligible. The “purchase will be put on pause and resume after the Verizon promo period,” a Verizon spokesperson told CNBC.
The offer will land Disney+ millions of early subscribers who may continue to subscribe after the first year, which is important since it will enter a crowded streaming market that includes Netflix, Amazon Prime Video, Apple TV+ and HBO Max.
Netflix shares fell on Verizon’s announcement. They were down 3.7% in late-morning trading Tuesday.
Disney+ will launch on Nov. 12 for $6.99 a month and includes new and existing TV shows and movies from Disney, Marvel, Pixar, Star Wars and more. The service will be available across multiple platforms, including iPhone, Android, Roku, Xbox and PS4, and will allow customers to download videos for watching offline.
Disney’s deal with Verizon is similar to Apple’s offer for its streaming service Apple TV+, which also launches early next month. Apple will give a year of Apple TV+ for free to customers who buy a new Apple product including an iPhone, iPad or Mac.
AT&T’s WarnerMedia is expected to reveal pricing and launch details for its HBO Max service next week.
Verizon said customers will be able to activate and watch Disney+ on any platform. Customers can sign up on Verizon’s Disney+ page.
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