Walt Disney Company to Reorganize Media and Entertainment Businesses
Walt Disney Company CEO, Bob Chapek has said the company wants to “accelerate our transition to a real direct to consumer priority company”.
In a recent interview with CNBC, Chapek spoke about the reorganization of the company’s media and entertainment businesses.
Chapek said that “we believe that we’ve got the opportunity to build upon the success of Disney+ which by almost every measure has been far above anybody’s expectations”.
“In every territory for every platform our expectations have been exceeded and exceeded every month so we’re thrilled with the way it’s going and we just think this reorganization is going to catalyze growth even further.”
Kareem Daniel, the former president of consumer products, games, and publishing will now oversee the new media organization for the Walt Disney Company.
This change for the company’s media businesses into a single organization comes as Coronavirus pandemic has hurt its theatrical businesses and moved customers more towards streaming which is now Disney’s focus.
Chapek also revealed that the company will be increasing spending on new content for Disney+.
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TagsBob Chapek Disney+
Tom is a theme park fanatic hailing all the way across the pond in the United Kingdom.
After visiting and experiencing everything that the theme park's offer in the UK, he has concluded his favourite to be Alton Towers located in Staffordshire.