Disney offers streaming service discount for a month to boost subscribers

© Reuters. FILE PHOTO: A screen shows the logo and a ticker symbol for the Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo

(Reuters) – Walt Disney (NYSE:) 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.

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