Walt Disney has spent US$24.5 billion globally on advertising which increased over the last five years, according to data from Finbold.
Among its brand are Disney Studios, Pixar, Marvel, Lucasfilm, ESPN, and ABC, as well as theme parks and experiences.
The publication reported that the entertainment company spent $7.2 billion in 2022, representing a growth of approximately 157% compared to 2018, where $2.8 billion was spent.
Finbold highlighted the biggest jump in advertising expenses in the following year, 2019, which saw Disney make a 53% increase in spend to $4.3 billion.
In more recent times, Disney spent $7.2 billion in ad revenue in 2022.
But it seems the increase in ad spend is paying off for the entertainment company as it aligns with revenue growth.
The second quarter of 2019 saw the company’s revenue at $14.92 billion. But in line with the jump in ad spend of that year, the third quarter saw an impressive jump to $20.26 billion.
In the first quarter of 2023, the Walt Disney Company’s revenue worldwide was $23.51 billion. However, it did take a slight tumble in the second quarter, reporting $21.82 billion in revenue.
Despite the shortfall in the second quarter results, Robert A. Iger, chief executive officer of The Walt Disney Company, praised their achievements.
In the company’s second-quarter earnings results webcast earlier this month, he said: “We’re pleased with our accomplishments this quarter, including the improved financial performance of our streaming business, which reflect the strategic changes we’ve been making throughout the company to realign Disney for sustained growth and success.”
“From movies to television, to sports, news, and our theme parks, we continue to deliver for consumers while establishing a more efficient, coordinated, and streamlined approach to our operations.”