According to Variety, the Walt Disney Company expects more advertising commitments for sports and streaming.
What’s Happening:
- The Walt Disney Company has said that they're looking for more advertisers for television for their annual "upfront" market than last year.
- This is after Madison Avenues' interest in both sports and streaming content, which has been heard from other TV giants as well.
- ABC and Disney+’s owner has said it has hit around 9 billion dollars in advance commitments from advertisers which also include FX, Hulu, Freeform and National Geographic.
- During this time, TV companies try to sell the bulk of their advertising inventory before any debt from their next cycle of new programming.
- Previously, Disney secured between $1.66 billion and $2.18 billion for ABC’s primetime schedule in 2020.
- "Disney Advertising entered our 2022-2023 Upfront committed to executing on our strategic priorities — streaming, multicultural and inclusion, sports and entertainment — and we delivered," Rita Ferro, president of advertising sales for Disney Media and Entertainment, said in a prepared statement. "This marks a historic close to our strongest Upfront ever, totaling $9 billion. I am proud to partner with all of our clients to reach audiences at scale across all screens, and alongside the most premium content."
- The company claimed it had secured "double-digit increases in sports volume and pricing for the second year in a row that reflect the strength of our rights portfolio" due to increased women's sports offerings and other factors.
- Disney+, ESPN+, and Hulu, as well as other streaming and digital media, will receive 40% of the funds committed.
- Earlier this year, it was announced that an ad supported tier of Disney+ was going to be released.
Agency partners have already committed to Disney+.
There has also been an increase in demand for the service, as well as for Hulu and ESPN+.
Ad categories that could be included include financial services, media and entertainment, pharmaceuticals, sports gaming, and travel and leisure.