Disney Pays Top Dollar For Super Bowl Ad Celebrating Its Legacy Days After Announcing 7,000 Layoffs
The Walt Disney Company laid off 7,000 employees last week. The company cited cost-cutting for its mass cuttings.
But just days later, Disney cut no costs.
Instead, the brand paid for a 90-second commercial during the broadcast of Super Bowl LVII on Sunday. Per the New York Post, Disney paid around $7 million for the ad.
Of course, $7 million could have saved some jobs. Or many. Yet Disney CEO Bob Iger chose to instead celebrate Disney's 100th anniversary with a montage of scenes from films like “Star Wars” and “Avatar.”
To be fair, the commercial was rather appealing:
https://twitter.com/RobertIger/status/1624815091953831936?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1624815091953831936%7Ctwgr%5Edade77644306952ad654782edcd05f54dbabd601%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnypost.com%2F2023%2F02%2F13%2Fdisney-panned-for-running-celebratory-super-bowl-ad-after-announcing-7000-layoffs%2F
Last Weekend, Iger announced the layoffs as part of an effort to achieve $5.5 billion in cost savings, following a dismal 2022.
Specifically, he says the brand plans to cut $2.5 billion in sales and general administrative expenses, and another $3 million from a reduction in non-sports content, including the layoffs.
'Doesn't Sit Right With Me'
So, how did Disney pay for a $7 million ad that ran for 90 seconds on Sunday?
A Disney spokesperson claimed to the New York Post the company used previous advertising credits to cover the cost of the commercial. The company declined further comment.
“Something about that disney celebratory ad bugs me … maybe it’s the recent announcement they’re laying off 7,000 employees and spending at least $7 mil on the ad,” tweeted Kristina Monllos, senior marketing editor at Digiday.
Former Disney accountants might not be able to pay rent this month. But at least the company was able to celebrate its legacy between the Chiefs' comeback and Rihanna's crotch-grabbing.