Dow Jones Shrinks as Apple Shares Decrease on China Gaming Reduction, Disney Stock Rises on Streaming Price Rise

Dow Jones Industrial Average (DJINDICES: ^ DJI) fell about 0.1% at 11:45 AM EST on Thursday, a small move to end what has been a lively year for the stock market. The Dow collapsed below 20,000 in March as the COVID-19 pandemic hit the United States and led to large-scale home orders. The pandemic was never controlled, but that didn’t stop the Dow from finally hitting new highs later in the year. Dow will end 2020 with over 6%, if nothing changes by the end of the day.

As for individual actions, actions Apple (NASDAQ: AAPL) fell shortly after the company removed thousands of paid gaming apps from the China App Store. In the meantime, Disney (NYSE: DIS) the stock has risen after it appears the company is planning a price increase for its ESPN + streaming service.

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Apple is eliminating gaming applications from China

The Wall Street Journal reported last week that technology giant Apple planned to remove thousands of game apps from its App Store in China due to government pressure. Apple reportedly warned Chinese developers earlier this month that paid gaming applications risk being phased out.

China is demanding the licensing of paid video games before launch, a policy that has been in place for the past four years. However, application developers have managed to avoid this rule on the Apple platform. Apple has started to close the gap this year, diary reports.

On Thursday, Apple continued to remove 39,000 gaming apps from the China App Store, according to Reuters. These include popular titles such as The identity of Assassin’s Creed and NBA 2K20. Only 74 of the top 1,500 paid gaming apps in the China App Store are still available, according to research firm Qimai.

The license requirement applies to paid games and in-app purchases, so Apple’s move could lead more developers to opt for an advertising model. Apple takes a reduction in application sales and in-app content, so such a change would affect Apple’s sales in China.

Shares of Apple fell about 0.8% through late Thursday morning. If nothing dramatic happens with the stock price for the rest of the day, Apple shares will end the year with over 81%.

Disney’s ESPN + raises prices

Given the popularity of Disney streaming services, it is safe to say that the entertainment juggler has a certain price power. The company plans to increase monthly prices for its flagship Disney + service from $ 6.99 to $ 7.99 in March, a move that is unlikely to cause much of a cut given the low price of the service compared to the competition.

Disney’s sports-focused ESPN + streaming service joins Disney + in raising prices in 2021, according to variety. The price of an annual ESPN + subscription will jump from $ 49.99 to $ 59.99 on January 8, with renewals remaining at the old price until at least March 2. The price of pay-per-view UFC events on the service are also rising. Spectators will now have to distribute $ 69.99 per event, compared to the previous price of $ 64.99.

Disney expects ESPN + to accumulate between 20 and 30 million subscribers by the end of fiscal year 2024, compared to the previous target of 8 million to 12 million subscribers. Disney also expects the service to make a profit by fiscal year 2023.

Streaming is a big part of Disney’s future, and the company has so far demonstrated its ability to quickly gain subscribers to its various services. Disney shares rose about 0.65% through late Thursday morning; the stock increased by more than 26% in 2020.