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Disney+ to launch cheaper ad-supported tier later this year

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In this photo illustration the Disney+ logo seen displayed on a smartphone screen.
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Disney announced on Friday a new ad-supported tier for its Disney+ streaming service that will launch in the U.S. later this year.

Disney now joins several of its peers who already have ad-supported tiers, including AT&T’s HBOMax, Paramount+, and Comcast’s Peacock.

The new ad-supported tier will expand internationally in 2023.

Disney did not provide a launch date or price for the new tier.

The company said in a press release that the new offering would be “a building block” in achieving its goal of reaching 230 million to 260 million Disney+ subscribers by 2024.

This story is developing. Check back for updates.

Disclosure: Comcast is the owner of CNBC parent company NBCUniversal.

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