Walt Disney Co. (DIS) is banning Netflix Inc. (NFLX) ads across its TV networks, according to a report from the Wall Street Journal ( ), ahead of the launch of the entertainment and media giant's Disney+ streaming-video service ( ) next month. Citing people familiar with the matter, the report said Disney had told staffers not to accept ads from any rival streaming services but later reversed course and found a compromise with nearly company except Netflix. In 2018, Netflix spent $99.2 million on TV ads in the U.S., with 13% going to Disney-owned networks, the Journal report said, citing data from iSpot.TV. Separately, the report indicated Comcast Corp. (CMCSA) plans to spend $100 million on ads outside of its properties to launch its streaming service, Peacock, which is slated for an April 2020 rollout, while AT&T Inc.'s (T) WarnerMedia plans to spend $300 million on ads over the next year to push HBO Max. Disney's stock has run up 17.9% in 2019, while Netflix shares have edged up by 0.4% and the Dow Jones Industrial Average has gained 12.9%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 04, 2019 15:58 ET (19:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.