Disney’s (NYSE: DIS) announcement on Friday that it will introduce an ad-supported subscription option for its Disney+ streaming service at a lower cost than its ad-free subscription is bound to have an impact on such media-focused ETFs as the Invesco Dynamic Media ETF (PBS), the Invesco S&P 500 Equal Weight Communication Services ETF (EWCO), and the Invesco Dynamic Leisure and Entertainment ETF (PEJ), all of which have holdings in the media giant.

Though details on the launch date and pricing will be announced later, Disney+ is set to offer this new, less expensive subscription tier to U.S. customers later this year, with plans to expand internationally in 2023.

“Expanding access to Disney+ to a broader audience at a lower price point is a win for everyone – consumers, advertisers, and our storytellers,” said Kareem Daniel, chairman, Disney media and entertainment distribution. “More consumers will be able to access our amazing content. Advertisers will be able to reach a wider audience, and our storytellers will be able to share their incredible work with more fans and families.”

The ad-supported offering is part of Disney’s plan to gain between 230 million and 260 million Disney+ subscribers by fiscal year 2024.

PBS seeks to track the investment results of the Dynamic Media Intellidex Index. The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. At the heart of the index is a conglomerate of U.S. media companies. These companies are principally engaged in the development, production, sale, and distribution of goods or services used in the media industry.

EWCO, meanwhile, seeks to track the investment results of the S&P 500® Equal Weight Communication Services Plus Index. The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index.

The underlying index is composed of all the components of the S&P 500 Communication Services Plus Index, an index that contains the common stocks of all companies included in the S&P 500® Index that are classified as members of the communication services sector, as defined according to the Global Industry Classification Standard (GICS). The fund uses a mix of allocation styles, but primarily operates within large-cap value, blend, and growth, with some mid-cap value and blend styles added in.

PEJ is based on the Dynamic Leisure & Entertainment Intellidex℠ Index, which is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including price momentum, earnings momentum, quality, management action, and value. The index is comprised of common stocks of 30 U.S. leisure and entertainment companies.

PEJ will normally invest at least 90% of its total assets in common stocks that comprise the index.

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