Disney Reorganizes Media and Leisure Enterprise; Bounce shares

© Reuters.

Yasin Ebrahim – Disney Detailed plans late Monday to reorganize its media and entertainment business as the company seeks to accelerate growth in the direct customer market.

The Walt Disney Company (NYSE 🙂 gained more than 3% in after-hours trading.

The new media and entertainment distribution group, which will be responsible for all content monetization – both distribution and ad sales – and overseeing the operation of the company's streaming services, the announcement said.

Under the new structure, the company's three content groups – studios, general entertainment and sports – will be responsible for the production and delivery of content for theater, linear and streaming, with an emphasis on streaming services.

The new sales group will be led by Kareem Daniel, the former president of games and publishing for the company's consumer products group.

The company also announced that it will host a virtual investor day on December 10th.

"Given the incredible success of Disney + and our plans to accelerate our direct customer business, we are strategically positioning our company to more effectively support our growth strategy and increase shareholder value," said Bob Chapek, CEO. "By managing the creation of content differently from distribution, we can make the content consumers want most, more effectively and flexibly, and deliver it as they prefer."

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