• by Wayne Friedman , May 6, 2026

Overdelivering on analysts' projections, Walt Disney said advertising on all its entertainment channels -- linear TV and streaming -- rose 5% to reach $1.67 billion for its most recent three-month period ending in March.

Disney's  "Entertainment" business segment includes results from ABC, Disney Channel, FX and National Geographic, as well as Disney+ and Hulu.

Taking out Disney’s Fubo deal -- it now owns 70% of the virtual pay TV distributor -- advertising was up 3% versus 5% growth in the previous fourth quarter 2025.

These results factor in growing international business.

“International revenue is still likely growing faster than domestic revenue, implying softer domestic Entertainment advertising trends across both streaming and linear TV,” says Madison and Wall.

Growth for streaming currently continues to outperform linear TV. The company says direct-to-consumer advertising from Disney+, Hulu, was up 12% to $821 million, driven by more viewer impressions.

In the previous quarter, streaming saw a 4% growth in advertising.

Disney says: “We currently generate more Entertainment subscription and affiliate fees and advertising revenues from SVOD than linear TV, and we expect the mix shift from linear toward streaming to continue.”

Subscription and affiliate revenues from all its entertainment platforms -- linear TV and streaming -- was up 14% to $7.8 billion. Streaming subscription revenue grew 16% to $4.7 billion.

Mid-day Wednesday trading of Disney stock was up 8% to 108.14.

At the same time, Disney’s overall ESPN business witnessed lower advertising -- 2% to $1.1 billion during the period -- as a result of overall viewership due to fewer NBA games. Disney aired a 4 Nations hockey tournament a year ago.

Major sporting events are already showing strength, the company says: “We are already seeing strong demand for inventory around ESPN's first Super Bowl, Super Bowl LXI, in February 2027.”

Disney’s Experiences segment, which includes its parks and Disney Cruise Line, witnessed overall revenue growth of 7% to $9.5 billion.