CEO Bob Chapek said the move follows the success of Disney+ and furthers Disney’s plans to “accelerate” its direct-to-consumer business.
Disney announced Monday that it will restructure its media and entertainment divisions to prioritize streaming, following similar moves by NBCUniversal and WarnerMedia as the coronavirus pandemic has shaken up the entertainment industry. Disney will create content groups for its major film franchises, general entertainment and sports and will centralize its media businesses into one organization responsible for content distribution, ad sales and its streaming service Disney+.
Chapek said the move follows the success of Disney+ and furthers Disney’s plans to “accelerate” its direct-to-consumer business. Disney’s programming arms such as its movie and television studios will focus on creating content that isFurther Backgroundto funnel more money into new Disney+ content, according to CNBC, which obtained a copy of the letter. Loeb, whose firm Third Point Capital is one of Disney’s largest shareholders, argued that Disney could more than double it’s Disney+ content budget by reallocating dividends which could boost subscriber growth, reduce churn and increase pricing.
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