Despite launching just over a year ago, Disney+ is already getting a price increase. It comes after the company announced a whole host of new content for the platform.

What Will Disney+ Cost?

Currently, for a monthly subscription, Disney+ costs $6.99 in the US, £5.99 in the UK, and €6.99 in Europe.

From March 2021, these prices will be increasing to $7.99, £7.99, and €8.99 respectively.

In the US, the bundle of Disney+, Hulu, and ESPN+ will be raised from $12.99 a month to $13.99.

Disney+ launched in November 2019, so some might consider it too early for a price increase. However, Disney purposely launched the platform at a lower cost to draw customers in---and it worked, since we reported in November 2020 that Disney+ has 73 million subscribers, which far exceeded the company's expectations. That figure now stands at 86 million worldwide.

By announcing this change now, Disney is giving customers three months warning, which seems fair.

It's also not an unexpected announcement considering the state of the streaming industry, which has seen a huge boom thanks to the coronavirus pandemic. With more people stuck inside, the likes of Disney+, Netflix, and Amazon Prime have all seen an influx of users.

Those competitors have also increased prices in recent months. For example, Hulu's Live TV package increased by $10 in December 2020 and Netflix raised the price of several packages in October 2020.

Can Disney+ Justify the Price Increase?

It's fair to say that while Disney+ has quality material in the likes of Disney's classic animations, The Simpsons, and the Marvel Cinematic Universe, there isn't a huge deal of exclusive content.

That's due to change in the coming years, following Disney's Investor Day 2020 where the House of Mouse announced a wealth of brand-new content due to hit the platform.

The projects are from franchises and studios like Star Wars, Marvel, and Pixar. That includes a live-action The Mandalorian spin-off called Rangers of the New Republic, an Obi-Wan Kenobi TV series featuring the return of Hayden Christensen as Darth Vader, and Secret Invasion from Marvel starring Samuel L. Jackson.

Chief Financial Officer Christine McCarthy said that the "price increases reflect an increase in the underlying value of the Disney Plus product offering". It's hard to argue with that.

Is Netflix Better Than Disney+?

With the Disney+ price increase drawing the service closer to Netflix's cost, you might be wondering which of the two giants are worth your money. That's why we've put together a detailed comparison of Disney+ and Netflix.