In particular, according to data acquired by Finbold, Walt Disney’s advertising expenses showed a remarkable steady increase between 2018 to 2022, with the company spending $24.5 billion globally.
The peak in advertising expenses occurred in 2022, reaching $7.2 billion, representing a staggering growth of approximately 157% compared to the initial value of $2.8 billion in 2018. Notably, the highest yearly growth rates occurred between 2018 and 2019, with a substantial increase of 53%.
Interestingly, this upward trend in advertising expenses aligns with Walt Disney’s revenue growth. As of Q2 2023, the company’s revenue amounted to $21.8 billion. The highest quarterly revenue was recorded in Q1 2023, reaching $23.51 billion. It is worth mentioning that over the past nine years, one of the lowest quarterly revenue figures was observed in Q3 2020, amounting to $11.78 billion at the height of the pandemic.
Understanding Disney’s growing advertising budget
This story is from the June 2023 edition of Business Today Sri Lanka.
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This story is from the June 2023 edition of Business Today Sri Lanka.
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