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the Dow Jones Industrial Average (DJ INDEXES: ^ DJI) it was down about 0.1% as of 11:45 am EST on Thursday, a small move to end what has been an eventful year for the stock market. The Dow plunged below 20,000 in March as the COVID-19 pandemic hit the US, prompting widespread calls to stay home. The pandemic was never under control, but that didn’t stop the Dow from finally hitting new all-time highs later in the year. The Dow will end 2020 with more than 6% if nothing changes at the end of the day.
Moving on to individual actions, actions of Apple (NASDAQ: AAPL) They went down a bit after the company removed thousands of paid game apps from its China app store. Meanwhile, Disney (NYSE: DIS) The shares rose after the company reportedly planned a price hike for its ESPN + streaming service.
Image source: Getty Images.
Apple removes gaming apps in China
The Wall Street Journal reported last week that tech giant Apple planned to remove thousands of game apps from its App Store in China due to pressure from the government. Apple reportedly warned Chinese developers earlier this month that paid gaming apps were at risk of being removed.
China requires paid video games to be licensed before launch, a policy that has been in place for the past four years. However, app developers have been able to get around that rule on the Apple platform. Apple began closing the gap this year, daily reports.
On Thursday, Apple followed up with removing 39,000 game apps from its China app store, according to Reuters. These include popular titles like Assassin’s Creed identity and NBA 2K20. According to research firm Qimai, only 74 of the top 1,500 paid game apps in the China app store are still available.
The licensing requirement applies to paid games and games with in-app purchases, so Apple’s move could push more developers to opt for an ad-supported model. Apple takes a cut in sales of apps and in-app content, so such a change would affect Apple’s sales in China.
Shares of Apple fell 0.8% late Thursday morning. If nothing dramatic happens to the stock price for the rest of the day, Apple’s stock will end the year up more than 81%.
Disney’s ESPN + raises prices
Given the popularity of Disney’s streaming services, it’s safe to say that the entertainment giant has some pricing power. The company plans to increase the monthly price of its flagship Disney + service from $ 6.99 to $ 7.99 in March, a move that is unlikely to cause much loss given the service’s low price relative to the competition.
Disney’s sports-focused streaming service ESPN + joins Disney + to raise prices in 2021, according to Variety. The price of an annual subscription to ESPN + will increase from $ 49.99 to $ 59.99 on January 8, and renewals will remain at the previous price until at least March 2. The price of UFC pay-per-view events on the service is also increasing. Viewers will now have to shell out $ 69.99 per event, up from the previous price of $ 64.99.
Disney expects ESPN + to accumulate between 20 million and 30 million subscribers by the end of fiscal 2024, up from a previous target of 8 to 12 million subscribers. Disney also expects the service to turn a profit by fiscal 2023.
Streaming is a big part of Disney’s future, and the company has so far demonstrated an ability to quickly gain subscribers to its various services. Disney shares rose 0.65% late Thursday morning; the stock has risen more than 26% in 2020.
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