As a seasoned cinema devotee with a keen eye for media trends, I must say this news about Disney‘s successful 2024 ad sales is nothing short of magical! Having grown up with Mickey Mouse and his Disney pals, it’s heartening to see their influence still commanding respect on Madison Ave.
Mickey Mouse still has some pull on Madison Ave.
Disney Company announced that they have successfully secured more advertisement commitments for the 2024 “upfront” advertising market, with a 5% increase in the number of ad deals compared to previous years. The exact financial amount committed for both 2024 and 2023 was not disclosed. In the “upfront,” U.S. media companies aim to sell most of their commercial space ahead of their next programming cycle’s launch.
The importance of this graph lies in the challenges faced by U.S. media companies this year. Traditional TV networks are experiencing a decline in their substantial viewership, which has historically allowed them to demand the highest prices for advertisements. Simultaneously, there’s been an influx of streaming content offerings, triggered by the introduction of ad-supported versions by Netflix and Amazon Prime Video.
“Rita Ferro, president of worldwide advertising for Disney, stated in a written message that our expanding team of marketers we collaborate with and the substantial investments in advanced advertising technologies, showcase Disney’s unique advantage. With a greater emphasis on delivering exceptional storytelling, automation, and novel ad solutions, growth opportunities for our partners is at the forefront of our future plans.”
As a long-time subscriber to various streaming platforms and someone who has closely followed the media industry over the past decade, I find Disney’s decision to lower ad rates for Disney+ intriguing. From my perspective, this move seems like a strategic one aimed at increasing viewer engagement and attracting more advertising partners, especially during these uncertain economic times.
Similar to other businesses disclosing preliminary findings from this year’s advertising market, Disney reported that advertisers showed strong interest in sports programming and streaming content. The company noted a significant increase, in the double digits, for long-term sports agreements, while ad investments in women’s sports saw a substantial rise of over 100% compared to last year’s upfront.
According to Disney, there was a 10% increase in advertising commitments for streaming content on both Hulu and Disney+. This growth can be attributed to a fresh option that enables advertisers to purchase ad spots across a wider range of Disney’s application offerings.
Disney stated that the commitment level associated with targeting multicultural audience segments grew by 15%. This increase is due to media buyers strategically allocating their resources towards engaging diverse audiences.
Disney reported strong attention from international automobile, beverage, food, personal care, financial service, hotel, vacation rental, and quick-service restaurant marketers.
More to come…
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2024-08-01 23:18