Streaming companies, including Walt Disney (DIS), Warner Bros. Discovery (WBD), and Paramount (PARA), have launched Black Friday deals aimed at attracting new subscribers and retaining current ones. The move came after streaming services saw a surge in new subscribers during the 2023 Black Friday promotions.
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According to data from the research firm Antenna, about 6.9 million customers signed up for Black Friday deals in 2023, which reflects an 82% increase from the previous year. Specifically, PARA’s streaming platform Paramount+ and Walt Disney’s Hulu added 1.8 million and 1.7 million subscribers, respectively, through their Black Friday promotional offers last year.
Huge Discounts Offered for Short and Long-Term Plans
To attract more viewers, DIS, PARA, and WBD are offering significant discounts on both short-term and long-term subscription plans this year. Disney, for example, has announced huge discounts on its annual subscriptions. The ad-supported version of Hulu is now available for just $0.99 per month, down from $9.99. Further, the ad-supported bundle that includes Disney+ and Hulu is now being offered at $2.99 per month, compared to the regular price of $10.99.
Similarly, WBD’s ad-supported Max plan is available for $2.99 per month for the first six months, down a 70% discount from its regular price of $9.99. Moreover, Paramount+ with Showtime’s ad-free plan is now available for $2.99 per month, compared to the normal $12.99.
Investors should note that as the streaming industry is becoming increasingly competitive, companies are using Black Friday promotions to solidify their positions in the market and drive long-term growth.
Which Entertainment Stock Is the Best?
We used TipRanks’ Stock Comparison tool to see which entertainment stocks rank favorably based on different parameters. As we can see, DIS has a Strong Buy consensus rating, while WBD stock is currently rated as a Moderate Buy and PARA as a Hold. Importantly, analysts are predicting solid upside potential in WBD and PARA stocks.
