Disney Reorganizes Consumer Products, Streaming Businesses

Jeannie Matthews
March 15, 2018

Chief Strategy Officer Kevin Mayer will be chairman of that segment and report to CEO Bob Iger.

Walt Disney Co DIS.N said on Wednesday it had created a new unit for its streaming video and global businesses as the company retools its traditional media operation for a world rapidly embracing online video. Bob Chapek, who heads the parks division, will lead the combined unit.

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The new Direct-to-Consumer and global merges international media operations along with technology and direct services into a single worldwide business. The media networks and studio entertainment segments will remain. Disney is now pursuing a $52 billion deal to acquire Fox's entertainment assets, including its stake in Hulu, which would make Disney a majority owner of the SVOD.

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Those services, created to make Disney competitive with the likes of Netflix and Amazon, include ESPN Plus, which will roll out this spring.

The company is responding with its own digital push. "By uniting Disney's consumer products business and Disney Parks' robust retail and e-commerce operations, the company will be able to share resources and best practices to provide consumers with incomparable branded products and retail experiences", Disney stated.

On top of all that, all of Disney's worldwide channels and all global direct-to-consumer businesses will also be included in the new segment, under the eye of Mayer.

The company's advertising operations will also move out of the media networks division and be managed by the new direct-to-consumer segment. The new streaming sources are created to provide a new source of revenue and reduce its reliance on licensing fees from third-party distributors.

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