Disney launched an advertising version of Disney+, for $7.99 a month, raising the monthly fee for an ad-free version to $10.99.

CTOnews.com, Dec. 9 (Xinhua)-- Walt Disney Co. launched an advertising version of its new Disney + subscription program on Thursday in an attempt to revive its flagship streaming service, which has lost more than $8 billion over the past three years. Disney will charge $7.99 a month for an advertising version of Disney +. The ad-free version of Disney + will now cost $10.99 a month, up from $7.99.

CTOnews.com learned that investors and analysts expect advertising revenue and higher subscription fees to bring higher profits to the company's streaming business, but they also pointed out that the higher fees could increase the subscription turnover rate of the streaming platform, the proportion of subscribers who cancel the service every month.

Disney says more than 100 advertisers have participated in the new program.

Disney first announced in March that it would launch an advertising-supported version, which it sees as "a cornerstone" of its goal of reaching 230 million-260 million long-term users by fiscal year 2024. As of November, Disney + had 164.2 million global users.

Disney's streaming business lost $1.5 billion in the quarter, compared with a loss of $630 million in the fourth quarter of last year. "We expect our operating losses directly to consumers to shrink in the future, and the streaming division will be profitable in fiscal 2024," Disney CEO Bob Chappique said in a letter to investors last month. "