As the coronavirus shifts every goalpost imaginable, Disney moves with the times, altering its own focuses as they restructure their media and entertainment divisions to focus primarily on their direct-to-consumer avenues rather than the incredibly lucrative but currently inert box office.
Disney is restructuring its media and entertainment divisions, as streaming becomes the most important facet of the company’s media business.
On Monday, the company revealed that in order to further accelerate its direct-to-consumer strategy, it would be centralizing its media businesses into a single organization that will be responsible for content distribution, ad sales and Disney+.
Shares of the company jumped more than 5% during after-hours trading following the announcement.
With 100 million paid subscribers across its streamers, half of which subscribe to Disney Plus, it’s a sensible strategy to aims their lasers on a captive audience that appears to be enjoying the vast and growing library of Disney content. Looks like Bob Iger will be getting a statue next to Uncle Walt’s as we concentrate on the offerings coming from the small rather than the silver screen
