Disney+ is raising its prices by $3 a month—here's how to lock in a lower rate for the next year - CNBC

Disney Plus is getting more expensive, and now's your last chance to avoid the price hike.

Starting Dec. 8 the home of hit shows like "The Mandalorian" and "Loki" will see the cost of its ad-free membership tier increase from $7.99 per month to $10.99 per month.

Unlike other streaming services, Disney Plus gives customers the option to either sign up for a month-to-month plan or pay upfront for a full year of service at a discounted rate. When the monthly price increases, the annual plan will also go up from $79.99 to $109.99.

If you're planning on remaining a Disney Plus subscriber over the next year but haven't signed up for the annual membership, take advantage of the savings before it's too late.

A month-to-month membership over the next 12 months will cost you $131.88 at the newly-hiked rate.

Signing up for a full year now, in comparison, will save you $51.89 in the long run.

How to sign up for Disney Plus' annual membership

Switching from a month-to-month membership to the annual plan is simple. The easiest way is to visit the Disney Plus website on your browser.

From there, go to your account page and scroll down until you see your subscription plan. Clicking on that will bring you to a page with your subscription details. On this page, you'll be able to see your billing dates, adjust your payment method and change or cancel your subscription.

Then, simply select "Disney+ Premium (Annual)" from the options and enjoy your savings for the next year.

Want to earn more and work less? Register for the free CNBC Make It: Your Money virtual event on Dec. 13 at 12 p.m. ET to learn from money masters how you can increase your earning power.

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