Disney said Monday that it is reorganizing its business units to focus even more on streaming.
The company said in August that its Disney Plus service has more than 60 million subscribers, and subscribers to its main combination of streaming services — Disney Plus, ESPN Plus, and Hulu — top 100 million. It still plans to launch another international streaming service called Star.
The coronavirus pandemic has hit box-office revenue by closing many theaters. Disney has released several major titles on streaming services that would traditionally have appeared at cinemas, like a live-action remake of "Mulan" and the upcoming Pixar film “Soul" that will hit Disney Plus at Christmas. Americans continue to drop their cable subscriptions, affecting the company's TV networks.
So the company is creating three content arms, one each for sports, general entertainment and its studios, which have famous brands including Star Wars and Marvel. Their primary focus will be on making shows and movies for streaming services, Disney CEO Bob Chapek said in a statement. Meanwhile, a new distribution group will centralize how the content is sold and oversee streaming operations.
Disney's are among a slew of new streaming services from tech and entertainment companies — like NBCUniversal's Peacock and WarnerMedia's HBO Max — that are challenging Netflix for consumers' attention and money. Disney Plus is considered one of the most successful so far.
Disney shares rose 5.6% in after-market trading on the news.
David Stryzewski, CEO of Sound Planning Group, breaks down Disney’s latest results, from adding Taylor Swift to building out ESPN, and why Bob Iger’s leadership is crucial.
Kevin Cohee, CEO and chairman of OneUnited Bank, discusses the power of financial literacy and how education and technology can help bridge the racial wealth gap.
Alex McGrath, Chief Investment Officer at NorthEnd Private Wealth, discusses why the A.I. hype can’t power the market forever and how to position investments in the current market.
Paul Verna of Insider Intelligence breaks down how the company is positioned, whether they can make their streaming service profitable, and the upper limit of streaming bundle prices.
From Flamin’ Hot Cheetos to Sweet Heat Starburst, America’s snacks are getting spicier. Now, Coca-Cola wants in on the trend. The beverage giant introduced Coca-Cola Spiced, the first new permanent offering to its North American portfolio in three years.
Taylor Swift’s camp is hitting Jack Sweeney, a junior at the University of Central Florida, with a cease-and-desist letter that blamed his automated tracking of her private jet for tipping off stalkers as to her location.
Surprise, surprise: tech is still the sector to watch, according to Karyn Cavanaugh, Chief Investment Officer at Carolinas Wealth Management. Learn how to properly diversify your portfolio.
