Sonos is reportedly getting close to launching a product in a new category: a premium streaming box, set to rival options from Apple and Roku. The Verge reports the streaming video player will offer surround sound that works with its other speakers and also act as an HDMI switch to pair with other hardware,

Welch reports that the streaming box is a "pet project" of Chief Innovation Officer Nick Millington who has been working on the development for some time. However, in the last year he's been engaging with the Sonos' community on Reddit and focused on improving the mobile app, which may explain part of the delay.

Codenamed Pinewood, the black box will open up new possibilities for Sonos surround sound. It doubles as an HDMI switch and will offer a unified streaming experience. But it could end up being surprisingly expensive.

Entertainment giant the Walt Disney Company saw subscriber losses at its flagship Disney Plus streaming service after it raised prices.

Walt Disney stock was rising Wednesday after the entertainment company’s fiscal first-quarter earnings report showed that its decision to hike streaming prices has paid off. Shares climbed 0.4% to $113.