Walt Disney Announces Strategic Reorganisation of Its Media to Focus on Streaming During COVID-19 Pandemic

The Walt Disney Company has announced strategic reorganisation of its media and entertainment businesses with a focus on creating original content and streaming. In light of the tremendous success achieved to date in the Company's direct-to-consumer business and to further accelerate its DTC strategy. The changes come at a time when the Covid 19 pandemic has hit theatres and amusement parks businesses worldwide while streaming has gained traction. The Walt Disney Company on Monday announced a strategic reorganization of its media and entertainment businesses. Disney Pixar’s ‘Soul’ Skips Theatrical Release; Animated Movie to Premiere on Disney Plus in Christmas 2020

Under the new structure, Disney's world-class creative engines will focus on developing and producing original content for the Company's streaming services, as well as for legacy platforms, while distribution and commercialization activities will be centralized into a single, global Media and Entertainment Distribution organization. The new Media and Entertainment Distribution group will be responsible for all monetization of content—both distribution and ad sales—and will oversee operations of the Company's streaming services. It will also have sole P&L accountability for Disney's media and entertainment businesses. Uday Shankar Steps Down as President of the Walt Disney Company Asia Pacific

The creation of content will be managed in three distinct groups—Studios, General Entertainment, and Sports—headed by current leaders Alan F. Horn and Alan Bergman, Peter Rice, and James Pitaro. The Media and Entertainment Distribution group will be headed by Kareem Daniel, formerly President, Consumer Products, Games and Publishing. All five leaders will report directly to Bob Chapek, Chief Executive Officer.

The Walt Disney Company. Disney Parks, Experiences and Products will continue to operate under its existing structure, led by Josh D'Amaro, Chairman, Disney Parks, Experiences and Products, who continues to report to Chapek. Rebecca Campbell will serve as Chairman, International Operations and Direct-to-Consumer. Bob Iger, in his role as Executive Chairman, will continue to direct the Company's creative endeavours.

"Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to more effectively support our growth strategy and increase shareholder value," Chapek said. "Managing content creation distinct from distribution will allow us to be more effective and nimble in making the content consumers want most, delivered in the way they prefer to consume it.

Our creative teams will concentrate on what they do best—making world-class, franchise-based content—while our newly centralized global distribution team will focus on delivering and monetizing that content in the most optimal way across all platforms, including Disney+, Hulu, ESPN+ and the coming Star international streaming service." The new structure is designed to further accelerate the company's Direct-to-Consumer strategy.

(The above story first appeared on LatestLY on Oct 13, 2020 01:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).