Disney shakes up business to focus on streaming

.

The company is merging its TV networks, film studio and direct-to-consumer divisions into one big group it is calling Media and Distribution, Disney said on Monday . Existing content chiefs will continue to oversee their businesses, but they will now be directly able to choose what movies and TV shows air on Disney's growing lineup of streaming services.

Investors applauded the move, sending Disney shares up as much as 5.5 per cent in late trading. Shareholders such as Third Point's Dan Loeb have urged the company to put more resources into streaming. He sent a letter last week to Disney chief executive officer Bob Chapek saying it was time to move on from movie theaters, which he compared to horse-drawn carriages.

"Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our company to more effectively support our growth strategy and increase shareholder value," Chapek said in a statement.

I'm surprised Disney doesn't just buy Netlfix. Though with the market the way it is, Netlfix look more valuable than Disney. Maybe a merger?

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Scott Morrison pledges to upgrade business incentives if jobs don't appearSmall businesses are cautions about adding new staff during the pandemic and recession despite the government's budget banking on a business-led recovery. katinacurtis katinacurtis I help run a business. It doesn't matter how much you give me, if customers don't have money to spend there is no work and I can't hire people. Basic income helps business and people. katinacurtis Yes just borrow another $1 trillion 💩
Source: smh - 🏆 6. / 80 Read more »

'No-one's business except hers': Albanese comes to Berejiklian's defence on Q+ANSW Labor leader Jodi McKay may have called for Gladys Berejiklian to fall on her sword but federal Labor leader Anthony Albanese says he 'felt for' the NSW Liberal Premier in a wide-ranging Q+A appearance that saw him grilled on his leadership credentials. Except when she Lie’s to lCAC Mmm such a great opposition party. Don't think Morriscum or MSM would be as forgiving if QLD Premier.
Source: abcnews - 🏆 5. / 83 Read more »