Disney will be increasing its overall content spending by $1 billion to $24 billion in fiscal 2026, largely due to growth in the cost of rights for marquee sports like the NBA.

The company disclosed the projection during its fiscal fourth-quarter earnings release. CEO Bob Iger and CFO Hugh Johnston explained the outlook in commentary to investors put out with the financials.

“We remain disciplined in our approach to capital allocation,” the letter said. The $1 billion bump in combined entertainment and sports content spending is coming “as we continue to invest in high-quality sports rights at ESPN, new and existing franchises at our film studio, and television content.”

The 2025-26 NBA season, which began last month, marks the start of 11-year rights deals between the league

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