BURBANK (CNS) - Looking to capitalize on the success if its direct-to-consumer streaming services, the Burbank-based Walt Disney Co. today announced a restructuring of its media and entertainment business, separating its content-creation efforts from its distribution and sales force.
“Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our company to more effectively support our growth strategy and increase shareholder value,'' Disney CEO Bob Chapek said in a statement. “Managing content creation distinct from distribution will allow us to be more effective and nimble in making the content consumers want most, delivered in the way they prefer to consume it.
“Our creative teams will concentrate on what they do best – making world-class, franchise-based content -- while our newly centralized global distribution team will focus on delivering and monetizing that content in the most optimal way across all platforms, including Disney+, Hulu, ESPN+ and the coming Star international streaming service,'' Chapek said.
According to the company, content-creation efforts will be split among three groups -- Studios, General Entertainment and Sports -- all of which will be responsible for production of content for “theatrical, linear and streaming'' platforms, with “the primary focus being the company's streaming services.''
The Studio content creation team will be led by Alan Horn and Alan Bergman, while Peter Rice will lead the General Entertainment team and James Pitaro spearheads the Sports component.
The newly created Media and Entertainment Distribution group will be led by Kareem Daniel, former president of Disney's Consumer Products, Games and Publishing sector.
All will report directly to Chapek, according to the company.
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