Editor's take: Disney's price hike is par for the course as Netflix implemented a similar increase late last year. The good news is that it's only $1 more per month, and with new content coming online at a steady pace, there's still plenty of value to be had.

Disney in late 2020 said that in March 2021, it would be increasing the price of its Disney+ subscription service. Let this be a friendly reminder that the price hike is now upon us.

Starting March 26, a standard Disney+ subscription will command $7.99 per month or $79.99 for a full year. That’s a $1 monthly increase over the current $6.99 rate and a $10 increase to the existing $69.99 annual fee.

Similarly, the Disney bundle, which includes Disney+, ESPN+ and the ad-supported version of Hulu, will be going from $12.99 per month to $13.99 a month. If you want the bundle with the ad-free version of Hulu, prepare to pay $19.99 a month.

Again, all of these changes go into effect starting March 26. Fortunately, there are a couple of options to save some money if you act now.

Short of canceling your service, the best course of action is to throw down for an annual membership before the price hike. This will lock in the lower rate for another year. For Disney+, shelling out for a full year up front is equivalent to paying roughly $5.83 per month. If you wait until after the 26th, the math works out to around $6.67 each month for a full year or $7.99 if you go month to month.

Images courtesy JLStock, Daniel Constante