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Photo: Mike Kemp/Getty Images.

Disney CEO Bob Iger finally announced details for the long-awaited Disney streaming bundle that executives have been teasing for months. The bundle is meant to be an alternative to Hollywood rival Netflix.

Details: For $12.99 monthly, consumers can access Disney+, ESPN+ and the ad-supported version of Hulu. The deal will be available when Disney+ launches on Nov. 12. The combined package will be cheaper than Netflix's premium package, which is $13.99 a month.

Driving the news: The update came as Disney executives walked investors through the high-level results of its third quarter earnings, which missed investor expectations.

  • The company's massive success at the box office last quarter wasn't enough to save the entertainment giant from an earnings and revenue loss. The entertainment giant's stock price fell roughly 5% in after-hours trading Tuesday.

Be smart: It was the first full quarter that Disney reported earnings after acquiring much of 21st Century Fox in March.

The big picture: Investors had high hopes for Disney ahead of earnings, with many expecting the company to report high top-line growth in response to major successes at the box office and high attendance at its domestic theme parks over Memorial Day weekend.

  • Yes, but: Operating costs were high and cut into the company's profit margins. This was largely a result of investments Disney made in its new streaming products and paying down its 21st Century Fox acquisition.

Our thought bubble: Tuesday's report sent a message to investors that if Disney's bet on streaming doesn't pan out, its traditional businesses may not be enough to protect the company from long-term industry changes.

What's next: Executives said they expect operating losses to continue to widen next quarter due to more investments in its streaming products.

Go deeper

Updated 1 hour ago - World

Over 3,000 detained in protests across Russia demanding Navalny's release

Russian police officers beat protestesters at a rally against of jailing of oppositon leader Alexei Navalny in Moscow on Saturday. Photo: Mikhail Svetlov/Getty Images

Police in Russia on Saturday arrested more than 3,300 people as protesters nationwide demanded that opposition leader Alexey Navalny be released from jail.

Details: Demonstrations began in the eastern regions of Russia and spread west to more than 60 cities.

Updated 3 hours ago - Politics & Policy

Arizona Republicans censure Cindy McCain and GOP governor

Combination images of Cindy McCain and Gov. Doug Ducey. Photo: FilmMagic/FilmMagic for U.S.VETS/Michael Brochstein/SOPA Images/LightRocket via Getty Images

Arizona Republican Party members voted on Saturday to censure prominent GOP figures Cindy McCain, Gov. Doug Ducey and former Sen. Jeff Flake (R-Ariz.), who've all faced clashes with former President Trump.

Why it matters: Although the resolution is symbolic, this move plus the re-election of the Trump-endorsed Kelli Ward as state GOP chair shows the strong hold the former president has on the party in Arizona, despite President Biden winning the state in the 2020 election.

Updated 7 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Education: Schools face an uphill battle to reopen during the pandemic.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong puts tens of thousands on lockdown as cases surge — Pfizer to supply 40 million vaccine doses to lower-income countries — Brazil begins distributing AstraZeneca vaccine.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.