Disney bans Netflix ads on all its networks - report

Friday, 04. October 2019 16:45

The Walt Disney Co. will forbid advertising from Netflix Inc. on all its TV networks, according to sources familiar with the situation, reported Wall Street Journal on Friday.

Disney, Comcast Corp. and AT&T Inc. said to spend hundreds of millions of dollars on advertising in 2020 to win over new users to their streaming-video services. Netflix spent $1.8 billion on advertising last year.

In a statement, Disney said the subscription streaming-video business has developed, "with many more entrants looking to advertise in traditional television, and across our portfolio of networks." At 10:20 ET Disney stock was up by 1.03% to $129.45 while Netflix rose 0.15% to $268.66.

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Breaking the News / TF