Disney Reorganizes the divisions eMedia And its entertainment, when eStreaming Becomes the most important area of its media business. Earlier this week, the company announced that in order to further accelerate the transfer strategy directly to consumers, it would concentrate its media business in one organization that would be responsible for content distribution, advertising sales and Disney Plus.
Disney’s move comes amid a plague The corona, Which silenced its film business and pushed more consumers into home streaming options. At the same time Disney CEO Bob Chapek told CNBC that he would not define it as a response to Corona. “I would say Corona has accelerated our pace of transition, but that transition was going to happen anyway,” he said.
“We’re moving the pendulum dramatically in the direction of streaming,” Chapek said. In August, Disney had 100 million paid subscribers to its streaming offering, more than half of them to the Disney + service. The company is now looking at all of its investments, including dividends, to increase investment in new content. The board will be the one to finally decide whether to distribute dividends or not.
According to Chapek, reorganization may result in some reduction in the workforce, but probably not to the extent we saw in the theme park division last month. Disney was forced to lay off about 28,000 park employees after it became clear that Disneyland Park in California would not reopen any time soon.
As part of the reorganization, Disney has promoted Karim Daniel, the former president of the consumer goods, games and publishing business, and he will now head the new media and entertainment distribution group. Daniel will be responsible for the profitability of streaming services and manage all of these services and American television channels , Including all content distribution, sales and advertising.Daniel will also be responsible for decisions on release dates for streaming or movie theaters in the future.
In recent months, the company has postponed several new movie releases to screens, including Marvel’s box office hit “The Black Widow.” Analysts are still waiting for data from Disney for “Mulan,” the film that was removed from theaters and sold through Disney + for $ 30. The company is expected to release more details about the film’s performance in its financial statements in November.
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