LONDON: Walt Disney Co. has secured a record $9 billion in commitments from advertisers for fiscal 2022-23 as demand soars for live events and the upcoming ad tier of streaming platform Disney+. Disney+, ESPN+ and Hulu brought in 40 percent of the total commitments, Disney said on Monday. The media powerhouse has been doubling down on sports and live events after a pandemic-induced lull, in an attempt to cushion advertising sales that’s under pressure from record inflation and geopolitical turmoil. Rival NBC Universal closed upfront advertising commitments exceeding $7 billion for the next fiscal year, Reuters reported last month. Over the last year and a half, Disney has expanded its rights to the National Football League (NFL), Wimbledon and the Australian Open. It also renewed rights for the popular FA Cup and more on ESPN+. Last week, it said it would raise the ESPN+ subscription fee by 43 percent to $9.99 a month from Aug. 23.
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