Disney scores US$9b in upfront ad sales with 40% of spending going online

WALT Disney said advertisers agreed to buy US$9 billion in commercials across its various channels and streaming services for the 2022-2023 TV season.

Disney said on Monday (Jul 18) that the so-called upfront purchases were the strongest in the company's history. About 40 per cent of spending went to its online offerings, including the Disney+, Hulu and ESPN+ streaming services.

The Burbank, California-based entertainment giant said it received commitments from all of the major advertising agencies for its Disney+ service. Disney is expected to introduce a lower-priced, ad-supported tier for the service, which presently costs US$8 a month, later this year.

Pricing and volume for sports ads on ESPN and other outlets increased by double-digit percentages for the second year in a row, Disney said. BLOOMBERG