Disney Sets Major Reorganization Around Disney+
Disney CEO Bob Chapek announced on Monday a major restructuring that would bring the Disney + streaming service into the middle of the company's operations.
The new structure will be "focused on the development and production of original content for the company's streaming services," Disney said when it announced its reorganization on Monday. The key change is the combination of the sales and advertising sales teams, led by Kareem Daniel, who served as President, Consumer Products, Games and Publishing.
The media and entertainment sales group will oversee P&L management and all sales, operations, sales, advertising, data and technology functions for running Disney's streaming services and TV networks.
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Disney divides its content development into three groups - studios, general entertainment, and sports - that are now separate from distribution. The three groups are led by their current leaders, Alan Horn and Alan Bergman, Peter Rice and James Pitaro. Disney Parks, Experiences and Products will continue to operate under the existing Josh D’Amaro structure. Rebecca Campbell will serve as Chair, International Operations and Direct-to-Consumer.
The new structure will take effect immediately, and Disney expects to transition to financial reporting under this structure in the first quarter of fiscal 2021.
Under Horn and Bergman, the most important film studios will be shown, including Walt Disney Studios, the Animation Studios, Pixar, Marvel Studios, LucasFilm, 20th Century Studios and Searchlight Pictures. In addition to theatrical releases, Horns and Bergman's group will also be commissioned to create content for Disney + and other streaming services such as Hulu.
Rice will lead the General Entertainment Group, which will house television studios such as 20th Television, ABC Signature, Touchstone Television, and cable networks such as Disney Channels, Freeform, FX and National Geographic. Pitaro will serve as Chairman of ESPN and Sports Content, where he will oversee the sports programming on ESPN + and ABC.
"Given the incredible success of Disney + and our plans to accelerate our direct customer business, we are strategically positioning our company to more effectively support our growth strategy and increase shareholder value," said Chapek. “By managing the creation of content differently from distribution, we can make the content consumers want most, more effectively and flexibly, and deliver it as they prefer. Our creative teams will focus on what they do best - premium, franchise-based content - while our re-centered global sales team will focus on delivering and monetizing that content in the best possible way across all platforms including Disney +, Hulu . ESPN + and the upcoming international star streaming service. "
Disney will host a Virtual Investor Day on December 10th.
Read the original story Disney implements major reorganization around Disney + At TheWrap
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