Disney restructures its business
It is a big call to help it respond to changes in the market. Yes, the development and production of shows is to be separated from distribution. By doing that, Disney can respond faster to changes in consumer demand, and place further emphasis on streaming, Quartz notes.
Walt Disney Co said on Monday it had restructured its media and entertainment businesses to accelerate growth of Disney+ and other streaming services as consumers increasingly gravitate to digital viewing. Under the reorganization, Disney will separate the development and production of programming from distribution to be more responsive to consumer demands.
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The media and theme parks company launched the Disney+ streaming service in November 2019. It has exceeded its own targets by drawing more than 100 million streaming customers worldwide to Disney+, Hulu and ESPN+.
Streaming pioneer Netflix Inc boasts 193 million, but has built that customer base over the 13 years.