The Wall Street Journal (WSJ) reported that Walt Disney is considering establishing a membership program that would reward customers for purchasing more of its streaming services, parks, resorts, and merchandise.
This would be similar to Amazon Prime, which offers features such as free shipping and a streaming video service.
The discussions are still in their early stages, and while some executives have called it "Disney Prime" internally, it will not be the program's name.
Disney may offer more value to customers through its program, thereby influencing them to purchase more of its various services and providing Disney with more information about consumer preferences.
Disney CEO Bob Chapek has been a vocal advocate for more cross-selling, and he's highlighted Disney's "unique synergy machine" on a conference call with analysts, stating that one of the company's strengths was its ability to reach people in many different ways.
Kristina Schake, a senior executive vice president and chief communications officer for the company, said technology is "giving us new ways to customize and personalize the consumer experience, so that we are delivering entertainment, experiences, and products that are most relevant to each of our guests."
Disney has had other recent successes, such as the Disney+ streaming service having 14.4 million new subscribers, which stands at the top of Netflix's total number of subscribers.
Disney+ subscribers are the top Netflix subscribers, just as consumers reconsider their media costs.
Disney+, Hulu, and ESPN are three services offered by the company that have a total of 221.1 million paid subscribers, while Netflix has 220.7 million paid memberships.
Chapek stated at the time that the company was looking to transform entertainment "with compelling new narrative across our many platforms" and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter."