File Photo: A smartphone with the Disney logo is seen on a keyboard in front of the words 'Streaming service' in this picture illustration taken March 24, 2020. (REUTERS/Dado Ruvic)
Walt Disney Co. said advertisers agreed to buy $9 billion in commercials across its various channels and streaming services for the 2022-2023 TV season.
Disney said on Monday that the so-called upfront purchases were the strongest in the company’s history. About 40% 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 $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.
