Disney reorganization combines parks with consumer products

Disney announces a strategic reorganization of its business ahead of the launch of its Netflix rival		
		
	Sarah Perez

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As part of a strategic reorganization, Disney is creating a new business unit focused on the company's direct-to-consumer video offerings. He will continue to report directly to Disney CEO Bob Iger.

"Kevin is a proven leader who has played a critical role in bringing together the collection of creative and technological assets that will allow Disney to offer unparalleled entertainment experiences in a direct-to-consumer future", Disney Chairman/CEO Robert Iger said. The unit will be made up of Disney's overseas media businesses; global advertising sales for ESPN, ABC and other channels; syndicated television sales; and - most importantly - a portfolio of subscription streaming services. Mayer has headed Disney's corporate strategy team since 2005, supervising the company's acquisitions of Pixar, Marvel, Lucasfilm and, most recently, 20 Century Fox.

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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 division will also include the Disney's share of Hulu and its also-upcoming ESPN+ streaming service. "Delivering our great stories and characters directly to consumers on all high-quality devices around the world will provide the company with meaningful new revenue streams and opportunities for growth".

Kevin Mayer, the company's chief strategy officer, was named chairman of the new division, which will oversee the launch of a family-oriented streaming service akin to Netflix in late 2019, Disney said in a statement.

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