Disney CEO claims Netflix price match is a ‘coincidence’

Disney CEO Bob Iger says the fact its Disney+ streaming bundle subscription price of $12.99 is the same as Netflix’s standard package is a “coincidence.”

In a CNBC interview, Iger said Disney isn’t “going after” Netflix, but rather “looking to occupy space.”

“That’s a growth opportunity for the company and growth in terms in terms of consumption,” he said in the interview, adding there is plenty of room for both companies to “thrive” in the marketplace.

Iger said $12.99 was ultimately driven by a goal to get as many subscribers as possible.

Disney announced earlier this week that it would offer Disney+ along with Hulu and ESPN+ for $12.99 a month, saving subscribers roughy 30%.

During a call with analysts, Iger pointed out “hidden economic benefits” for the bundle discount — pointing out that even Hulu paid plans include advertising, giving the company another source of revenue.