Disney Reorganizes Business To Reflect Streaming Ambitions

Disney Reorganizes Business To Reflect Streaming Ambitions

He will continue to report directly to Disney CEO Bob Iger.

Effective immediately, the company will consolidate its parks and resorts unit with its consumer products division - and combine the management of its streaming initiatives to create a new segment dedicated to direct-to-consumer platforms.

The new meeting ground for video programming distributors!

The restructuring marks a change for Hulu, which was previously reported as part of Disney's media networks segment as equity in the income of investees.

The reorganization also created a direct-to-consumer and worldwide division, a media networks division and a studio entertainment segment.

The Walt Disney Company unveiled a sweeping reorganization on Wednesday, promoting a pair of executives and preparing the entertainment conglomerate for the eventual integration of assets from 21st Century Fox. It is pulling its first-run movies from Netflix in 2019 to offer them on the Disney-branded service.

Disney's streaming tech company BAMTech will now house all consumer-facing digital technology and products as part of the new D2C segment. The unit will be made up of Disney's overseas media businesses; global advertising sales for ESPN, ABC and other channels; syndicated television sales; and - most importantly - a portfolio of subscription streaming services. The new streaming sources are created to provide a new source of revenue and reduce its reliance on licensing fees from third-party distributors.

The segments include a newly formed Direct-to-Consumer and International; Parks, Experiences and Consumer Products; Media Networks; and Studio Entertainment.

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