The Walt Disney Company will be reorganized into three core business segments: Disney Entertainment, ESPN, and Disney Parks, Experiences, and Products.
CEO Bob Iger said during today’s earnings call, “Our new structure is aimed at returning greater authority to our creative leaders and making them accountable for how their content performs financially. Our former structure severed that link and must be restored.”
“Moving forward our creative teams will determine what content we’re making, how it is distributed and monetized, and how it gets marketed. Managing costs, maximizing revenue, and driving growth from the content being produced will be their responsibility. Under our strategic reorganization, there will be three core business segments: Disney entertainment, ESPN, and Disney parks, experiences, and products.”
Alan Bergman and Dana Walden will be the co-chairmen of Disney entertainment, “which will include the company’s full portfolio of entertainment media and content businesses globally, including streaming.”
Jimmy Pitaro will remain the head of ESPN and Josh D’Amaro will continue to lead Disney Parks.