Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Wall Street is welcoming the latest inflation data. The June personal consumption expenditures index, a favorite inflation measure of the Federal Reserve, rose just 0.1 percent - as expected. Over the past 12 months, the PCE rose 2.5 percent. Inflationary pressures are easing and that’s what the Fed wants to see as it prepares for its two-day meeting next week.
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In other news… we’re finally getting pricing details for the Disney+, Hulu, and Max streaming bundle. Customers who sign up for the triple play can get up to a 38 percent discount. The ad-tier service will cost $16.99 for new and returning subscribers, while the ad-free plan is roughly 30 bucks a month. Separately, the Disney+ and Hulu combo with ads is $9.99 and the cheapest Max plan costs the same.
When talking about the tie-up earlier this year, David Zaslav, the head of Max parent Warner Bros Discovery said the goal is to stop churn, that’s industry-speak for adding and losing subscribers. “We have found that when you bundle together with other content that more people in the family like - on a very basic level. -the more often you watch the product, the more people in the family that watch the product, the lower the churn.”
All three streaming services are struggling to compete with Amazon Prime Video and the king of streaming - Netflix. A standalone Prime Video account will set you back by $8.99 a month. Netflix’s cheapest plan is $6.99 a month with ads and $15.49 without.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I”m Conway Gittens with TheStreet.
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