Disney’s Latest Move to Regain Trust: Lowers Prices in This Way

disney prices oscars advertising

Disney’s pricing strategy has been in the news a lot recently. Most obviously, fans have been criticizing the Walt Disney Company for how much they raised these prices, particularly for the Disney Parks in the first place. However, as of the most recent update, it isn’t just fans; even Disney CEO Bob Iger recently admitted that Disney’s pricing had been “aggressive.” However, what’s interesting is that, on the back of these announcements and acknowledgments, it’s recently been revealed that Disney lowered prices for those looking at advertising during the Oscars, which will go live on March 12 at 8 p.m. ET.

Bring Back Magical Express

Disney CEO Bob Iger with Mickey Mouse/Courtesy of Disney

As reported by Variety, Disney has reportedly “softened” the prices for sponsors who choose to buy slots during the Oscars. And perhaps this softening was successful as the company declared a “sellout” a little under 48 hours before the Oscars broadcast on ABC on March 12, 2023. Disney usually has 60-70 slots that it sells yearly.

Rita Ferro, president of Disney Advertising, shared about the event in a statement, “The Oscars is a cultural phenomenon at the center of creativity and entertainment — and with Jimmy Kimmel back at the helm as host, our all-star production team is set to bring the magical night to movie fans, everywhere.”

oscars disney statue

The Oscars coming to the Disney Parks/Courtesy of Disney Parks Blog

Where last year, “Disney asked for between $1.7 million and $2.2 million for a 30-second ad, according to media buyers and other executives familiar with last year’s negotiations,” this year, the Walt Disney Company sought $1.6M to $2.1M for a 30-second spot. This reduction in price ranges comes after Walt Disney Company CEO Bob Iger’s acknowledgment of Park price rises being “aggressive” in their “zeal to grow profits” and could likely result from the current economy or the event’s rating decline. While only 10.5 million people watched the Oscars in 2021 (a record low), in 2022, the broadcast pulled 16.6 million viewers, up 58% from the previous year.

The Oscars commercials are a moneymaker for the Mouse House. According to ad-spending tracker, Vivvix, the 2022 Oscars earned Disney $139 million through 70 ads, and the red-carpet pre-show earned them $15.8 million through 48 commercials.

Magic Kingdom Disney World

Disney characters Mickey Mouse and friends in front of Cinderella Castle, Magic Kingdom Park, Walt Disney World Resort/Courtesy of Disney

This lowering of prices from Disney for those looking at advertising during the Oscars also leads to the question of whether this kind of “softening” of prices can be expected across the board. Disney has already announced the return of certain complimentary amenities for Disney Resort Guests, can some form of lowered pricing be next?

While it’s not clear what the precise direction Mouse House is planning for its properties is, a focus on the Parks seems apparent. Considering this, it will certainly be interesting to see how these decisions play out for Disney in the future.

disney's hollywood studios

Disney’s Hollywood Studios, Walt Disney World Resort/Courtesy of Disney

More on Disney and the Oscars

The Oscars, i.e. the 95th Academy Awards, will be held on March 12, 2023, at 8 p.m. ET at the Dolby Theater in Los Angeles. Hosted by Jimmy Kimmel, the event will be televised in the United States by Disney-owned ABC. Disney is also celebrating the ceremony this year at the Disney Parks with special offerings at Disneyland Resort and Walt Disney World.

About Priyanka Kumar

Priyanka is a writer, artist, avid reader, and travel enthusiast based in Chicago. In her free time, she is probably walking by the lake, catching up on the latest releases on TV, or spending inordinate amounts of time rewatching Moana, Encanto, and her Disney Channel life-long favorites Zack and Cody wreak havoc on the Tipton.

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