As the global health crisis continues, Disney has been making financial decisions to compensate for budget cuts, losses, and shortages.
Disneyland Resort remains closed and Disney recently made the decision to lay off 28,000 employees. The company has faced huge losses and according to many financial analysts, it’s going to take a long time to recover. To compensate for losses, Disney is structuring a reorganization in leadership that will help them shift their focus to streaming entertainment.
CNBC stated that Disney will “be centralizing its media businesses into a single organization that will be responsible for content distribution, ad sales and Disney+.” As part of the re-org, Kareem Daniel, former president of games and publishing, will oversee a new distribution group dealing with media. He’s now in charge of making sure that streaming on Disney+ and other Disney-owned streaming platforms will be profitable.
Alan Horn and Alan Bergman are still in charge of the company’s studios and will focus on creating content for theatrical, Disney+, and Hulu releases. Peter Rice will continue to lead the general entertainment group including television segments from 20th Television, ABC News, Disney Channels, Freeform, and more. James Pitaro will remain head of sports content and focus on live sports programming across ESPN, ESPN+, and ABC.
The reorg announcement comes after the decision to premiere Mulan and Soul on Disney+. While Disney shifts their focus to online content, we will most likely see more major films, new series, and collections coming soon to the streaming service.
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What do you think of Disney’s new focus on entertainment? Let us know in the comments below!
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