Disney Reorg to Further Bolster Company's Focus on Streaming

By Tali Arbel

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.

More In Business

All Buybuy Baby Stores Are Set to Close 

The ongoing liquidation of parent company Bed Bath & Beyond has now officially affected buybuy BABY stores. A judge has approved the sale of the chain's intellectual property for $15.5 million. 

Airline Costs Are Cooling This Summer

Prices for airfare seem to be cooling off. The latest consumer price index showed prices dropped 8.1 percent in June from a month earlier, which is the biggest decline in a year.

Cost-Cutting Tips for Summer Camp

While summer camp prices may be up this year, there may be options for financial aid. Cheddar's own Ashley Mastronardi has more.

Former Celsius CEO Charged Over Alleged Scheme

Alexander Mashinsky, the former CEO of the failed cryptocurrency lending platform Celsius Network, has been arrested on federal fraud charges, including wire fraud, according to CNBC.

Delta Air Lines Reports Record Earnings and Revenue

Delta Air Lines reported its highest earnings and revenue and raised its profit outlook.

Producer Prices Up 0.1% Year-Over-Year in June

Producer price index rose just 0.1% from a year ago, in the latest signal that inflation is slowing.

Stock Market Today: Wall Street Rises Again as Inflation Slows

Wall Street is adding to its winning week Thursday following the latest signal that inflation is continuing to ease its chokehold on the economy.

Threats of a Strike Heating Up Even Before UAW Begins Negotiations With Automakers

Whenever the United Auto Workers union begins negotiating a new contract with Detroit's three automakers, threats of a strike are typically heard on the floor of the old Chrysler transmission plant in Kokomo, Indiana.

Be Well: Fixing Your Bad Credit

Be Well: Fixing Your Bad Credit

FDA Approves First Over-The-Counter Birth Control Pill

U.S. officials have approved the first over-the-counter birth control pill, which will let American women and girls buy contraceptive medication from the same aisle as aspirin and eyedrops.

Load More