Disney restructures business, creates streaming video unit


Walt Disney Company announced a reorganization of its businesses into four segments, including a new unit for its streaming video and international businesses, chaired by Kevin Mayer, who has served as Disney’s Chief Strategy Officer since 2015.
This new division will oversee the upcoming Disney-branded direct-to-consumer streaming service, which is scheduled to be launched in 2019; as well as the company’s ownership stake in Hulu, and its soon-to-be-launched ESPN+ streaming service.
Disney’s OTT service will be the “exclusive home for subscription video-on-demand viewing of the newest live-action and animated movies in the Pay TV window from Disney, Pixar, Marvel and Lucasfilm. It will also feature an impressive array of original and exclusive series and movie programming, along with thousands of titles from the Disney film and television”, the company said in a press release.
As part of the reorganization process, Disney combined its theme parks business with the consumer products unit. Bob Chapek will lead this new combined unit. Disney also said that Media networks and Studio Entertainment segments will remain separate units.
“We are strategically positioning our businesses for the future, creating a more effective, global framework to serve consumers worldwide, increase growth, and maximize shareholder value,” Robert Iger, Disney Chairman and CEO said in a statement.