Josh D'Amaro, the longtime Disney executive who ran the company's theme parks division, is officially taking over as CEO from Bob Iger.
– including a $1 billion investment from Disney – was dissolving after the tech firm announced it was shuttering its Sora video generator just months after its launch.SXSW Conference & Festivals via Getty Images “Josh got picked on Epic Games and on AI and technology and ‘risk taking’ — which is pretty funny since he has never taken a career risk in his life after 23 years working his way up step by step in parks and resorts,” a former Disney exec told The Post on Wednesday.
“OpenAI and Epic Games are supposedly key to Disney’s future — unless they aren’t — so what is the future?” the source added. As for what D’Amaro can do to right the ship, the ex-exec said he could “shape and articulate an actual plan besides vague platitudes.” Widow of billionaire killed in Bayesian superyacht sinking faces bankruptcy after estate ordered to pay $1.2B$580M oil trades made minutes before Trump’s key Iran announcement draw scrutiny D’Amaro had looked to tech and gaming to bolster Disney, which is facing hurdles such as declining cable viewership. His mandate includes reviving lackluster Marvel and “Star Wars” movie franchises and growing the company’s parks and cruise offerings without pricing out customers. Adding to D’Amaro’s woes is a financial and PR black eye over the Disney-owned ABC reality show “The Bachelorette.” The network last week pulled the plug on “The Bachelorette” after video surfaced of Paul, known for “The Secret Lives of Mormon Wives,”could owe the studio anywhere between $50 and 70 million All in all, it has been a rough transition for D’Amaro, who took over from longtime chief Bob Iger last Wednesday with a vision to create a Disney that’s more connected with fans through emerging technologies. D’Amaro laid out a plan to take Disney+ beyond just fan-favorite films and TV shows, adding games and experiences to the streaming service. The Sora partnership – which was the first between a Hollywood studio and an AI firm – was one step in that direction, with plans to add user-generated AI videos of Disney characters from beloved franchises like “Star Wars” and Marvel directly into Disney+.“Disney will likely be hurt the most by OpenAI’s shuttering of Sora,” Bloomberg Intelligence analyst Geetha Ranganathan wrote in a note this week. “We expect Disney to find a new partner as it looks for ways to boost franchise monetization among younger audiences while also creating a pipeline for future franchise development.” Google and smaller AI companies like Runway AI and Pika AI are working on similar products to Sora – an app with a TikTok-style feed that launched last September and allowed users to share AI-generated videos. Disney said in a statement the AI sector is constantly changing, but pledged to “continue to engage with AI platforms to find new ways to meet fans.” OpenAI’s move to scrap Sora comes as the company is trying to streamline its offerings ahead of a potential IPO later this year, as CEO Sam Altman urges a focus on business and coding functions. The Epic Games partnership was a similar push from D’Amaro – who joined Epic’s board as part of the deal – to move the Disney brand into a new era. It included the creation of a brand-new Disney universe with original characters and storylines for the video game maker’s use – as well as illustrations of an online Fortnite game world that looked like a Disney theme park.Epic founder and CEO Tim Sweeney said in a memo Tuesday that declining Fortnite engagement forced the company to spend more than it was bringing in – adding that $500 million in cost cuts should set up the firm for “huge launch plans toward the end of the year.”on Disney’s ABC and Hulu – “The Bachelorette” and “The Secret Lives of Mormon Wives” – appears unclear after the network abruptly scrapped its new season with Paul over an alleged domestic violence incident. Paul pleaded guilty to felony aggravated assault in connection to the incident, which took place in 2023. The first episode of Hulu’s “The Secret Lives of Mormon Wives” opened with her getting arrested via police bodycam footage. The incident became harder for ABC to ignore after TMZ obtained footage of Paul hurling chairs at Mortensen, in which Paul’s daughter can be heard crying and Mortensen says, “Your daughter just got hit in the head with a metal chair.” A separate open domestic violence investigation into Paul and Mortensen, with allegations on both sites, was called in last month, and officials are reportedly investigating allegations of aWidow of billionaire killed in Bayesian superyacht sinking faces bankruptcy after estate ordered to pay $1.2BAmazon has stars’ favorite Cozy Earth sheets and pajamas for 20% off during the Big Spring SaleSXSW Conference & Festivals via Getty ImagesStream It Or Skip It: ‘Send Help’ on VOD, Sam Raimi’s Return-to-Form Comedy-Thriller, Which Puts Rachel McAdams Through the Wringer
Disney Fortnite Openai The Bachelorette
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Disney Dreamlight Valley Teaser Has Fans Hoping for a New Feature Straight from Animal CrossingA new building might be coming to Disney Dreamlight Valley, and fans have some big theories about what it could be.
Read more »
Disney's OpenAI breakup is a major test for new CEO Josh D'AmaroBusiness Insider tells the global tech, finance, stock market, media, economy, lifestyle, real estate, AI and innovative stories you want to know.
Read more »
New Disney Cinderella Project Revealed (But It’s Not What You Think)A New Disney Cinderella Project Has Been Revealed, But It's Not At All What You Would Expect
Read more »
New at Petco Park: Retro speakeasy, new video boards, new and local food favoritesInside the park, the Padres added two new video boards to the first- and third-base towers. They will display real-time pitchers' statistics.
Read more »
Disney Deal with OpenAI ‘Not Moving Forward’ After Sora Video App Shut Down NewsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Nightmare start for new Disney CEO as Sora shutdown makes it a trifecta of lossesThis can’t be how Josh D’Amaro wanted to start his new job.
Read more »