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Disney Announces Disney+ Streaming Service for $7/Month, Netflix Loses $8 Billion

Well that escalated quickly! Yesterday Disney announces that they will start their streaming service for $6.99/month, which is almost half of what the most popular plan Netflix has for $11/month. Disney will stream practically all their Disney movies, including the original Mary Poppins, many of the Star Wars films, and 21 Pixar Films. Disney knows the’ll be losing money by starting off so cheap, but they’re willing to do so just to get some of the market share. Disney made their announcement yesterday after the closing bell at the stock market, so today Netflix lost about $8 billion in value during today’s trading session.

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