Disney, former CEO hit with lawsuit over streaming problems
The lawsuit, filed in federal court last week, alleges the company offered misleading statements about the health of its direct-to-consumer products.
Disney Plus is a subscription video service operated by the Walt Disney Company. The service features family-friendly movies and TV shows from Disney’s catalog of programming. It costs $8 a month or $80 a year to subscribe.
International variants of Disney Plus also include adult-oriented programming from the Disney and 21st Century Fox libraries of content. These programs are included under the “Star” brand on the Disney Plus app.
The lawsuit, filed in federal court last week, alleges the company offered misleading statements about the health of its direct-to-consumer products.
The deal could be valued as high as $27.5 billion, with Disney acquiring full control of the streamer.
Disney will offer a version of its Disney Plus service that incorporates content from Hulu later this year
The Walt Disney Company brought in fewer streaming subscribers during its second financial quarter of the year.
An online retailer that sold illegal access to Netflix and Disney Plus allowed personal information of 600,000 customers to leak online.
Federal lawmakers have introduced a proposal that would ban loud ads from appearing on streaming TV services.
Disney Plus subscribers largely stuck with the ad-free version of the service despite a recent price increase.
The Walt Disney Company launched its cheaper, ad-supported plan for Disney Plus without support for Roku devices.
Disney has become the latest company to embrace ads for its cornerstone streaming service.
Former WarnerMedia CEO Jason Kilar said streaming services need to charge at least $15 a month and have 300 million customers to survive.