(NEWSnet/AP) — Walt Disney Co. CEO Bob Iger vowed to make its streaming services profitable via a planned October price hike on its ad-free Disney+ and Hulu plans and a crackdown on password sharing expected to extend through next year.

The increases will raise the monthly cost of ad-free Disney+ by $3, or roughly 27%, to almost $14. The cost of ad-free Hulu will likewise rise $3 to almost $18 — a 20% hike that will make it more expensive than the most popular ad-free tier at Netflix.

The Disney CEO acknowledged that the price hikes are intended to steer consumers toward cheaper ad-supported versions of these services, whose subscription prices are not changing.

Iger didn’t provide details about the password-sharing crackdown beyond saying that Disney could reap some benefits in 2024.

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