Monday, October 12, 2020

DIS stock: Disney reorganizes media, entertainment businesses to focus on streaming

 Here is the article. 

Under the restructuring, content creation will be managed in distinct groups: Studios, General Entertainment and Sports will be headed by current leaders Alan F. Horn and Alan Bergman, Peter Rice, and James Pitaro, respectively. The “Media and Entertainment Distribution” group will determine the monetization of content from all those sources and be led by Kareem Daniel, formerly president of consumer products, games and publishing for Disney. All five leaders will report directly to Chapek.

Streaming service Disney+, which has attracted more than 60 million subscribers since its November 2019 launch, has adopted a more aggressive approach to taking content direct to streaming amid the COVID-19 pandemic. Movies such as “Mulan” and “Hamilton” have debuted on the service instead of in theaters in the U.S., and last week, Disney said Pixar’s next animated film, “Soul,” will premiere on Disney+ on Dec. 25.

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