Verizon to offer customers free Disney+ subscription for 1 year

Verizon is offering new and current customers a free year of Disney+ as the battle for streaming customers heats up.

The offer extends to certain new and existing unlimited 4G and 5G customers as well as the vast majority of new home-internet customers.

The promotion beginning Nov. 12 will provide access to Disney, Pixar, Marvel, Star Wars, National Geographic and other content. Disney+ plans to release more than 25 original series and 10 original films and documentaries in its first year, including a remake of "Lady and the Tramp. "

Shares in Netflix, which has dominated the streaming entertainment world for years, slumped almost 3%.

Netflix is trying to hold onto its vast customer base as cheaper alternatives from the likes of Apple, Disney and others go live next month.

Netflix has long had a similar deal with T-Mobile. Comcast says its upcoming Peacock service will be free for cable customers. And AT&T, which will launch HBO Max next year, today throws in HBO free for wireless customers on unlimited plans.

Apple is charging only $5 per month for its service, while Disney is selling a service featuring its vast library of films and TV shows for $7 per month. Netflix's most popular U.S. plan costs $13 per month.