Disney offers streaming service discount for a month to boost subscribers

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FILE PHOTO: A screen shows the trading info for the Walt Disney Company company on the floor of the NYSE in New York
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(Reuters) - Walt Disney Co said on Monday it was offering a month of Disney+ for $1.99 for a limited period, as the entertainment giant seeks to stem a slowdown in paid user growth at its streaming service.

The promotion will begin on Nov. 8 and will be valid for aweek through Nov. 14 for new and eligible returning subscribersin the United States and some other countries, Disney said in astatement.

Disney, which charges $7.99 per month for its streamingservice in the United States, recently hinted at a slowdown insubscriber growth in Disney+, leading to a rare Wall Streetdowngrade.

Disney+, which has "Star Wars" and "Avengers" franchises inits portfolio, picked up more new subscribers during theCOVID-19 pandemic as theater closures prompted more people toturn to digital streaming to quench their entertainment needs.

As part of the promotions marking the launch of Disney+ twoyears ago, the company said it would provide other offersincluding an early entry into its theme parks for eligiblesubscribers.

Disney will report its fourth-quarter results on Wednesday.

(Reporting by Nishit Jogi in Bengaluru; Editing by Ramakrishnan M.)

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