Disney to launch its streaming video service Disney+ on November 12

Walt Disney Co priced its highly anticipated streaming video service below Netflix in an aggressive move to challenge the dominant streaming service and entice families to buy yet another monthly subscription.

Disney said on Thursday its new family-friendly streaming service will cost $7 monthly or $70 annually with a slate of new and classic TV shows and movies from some of the world’s most popular entertainment franchises in a bid to challenge the digital dominance of Netflix.

The ad-free monthly subscription called Disney+ is set to launch on November 12 and in every major global market over time, the company said. In addition to Disney films and TV shows, it will feature programming from the Marvel superhero universe, the “Star Wars” galaxy, “Toy Story” creator Pixar animation the National Geographic channel and the entire library of “The Simpsons.”

“What we are putting forward is an aggressive strategy,” Disney Chief Executive Bob Iger told analysts at the presentation. “We’ve got to be very serious and all in on it.”