BY J. CLARA CHAN | HollywoodReporter.Com

Troy Warren for CNT #Entertainment #Business

YouTube TV will now cost $49.99, down from $64.99, as a result of the dropped channels.

YouTube TV has lost ABC, ESPN and multiple other Disney-owned channels after the two companies failed to reach a contract on Friday evening.

As a result, YouTube will be decreasing the monthly price of its TV streaming platform from $64.99 to $49.99 due to the loss of 25 channels, which include the FX networks, Freeform, the Disney channels, the National Geographic channels and eight local ABC stations.

“We know this is frustrating news for our customers, and not what we wanted. We will continue conversations with Disney to advocate on your behalf in hopes of restoring their content on YouTube TV,” YouTube said in a blog post on Friday.

In a separate statement, Disney said YouTube — owned by Google — “declined to reach a fair deal” with Disney “based on market terms and conditions.”

“We stand ready to reach an equitable agreement with Google as quickly as possible in order to minimize the inconvenience to YouTube TV viewers by restoring our networks,” Disney said. “We hope Google will join us in that effort.”

Disney had warned its customers earlier this week that it would be pulling its channels from YouTube TV on Friday at 11:59 p.m. if it wasn’t able to come to an agreement over the carriage dispute. In the past, Disney has also threatened to pull its channels from Dish Network and AT&T.

In October, YouTube TV almost lost more than 14 NBCUniversal channels due to a similar carriage dispute, but the two parties were ultimately able to reach an agreement.