ASSOCIATED PRESS — Disney is reorganizing its business units to focus even more on streaming.
Its Disney Plus, Hulu and ESPN Plus services have more than 100 million subscribers. The coronavirus pandemic has hit box-office revenue, and consumers continue to quit cable, affecting the company’s TV networks.
So the company is creating three content arms — one each for sports, general entertainment and its studios, which have famous brands including Star Wars and Marvel — with a primary focus on making shows and movies for streaming services.
Disney’s are among a slew of new streaming services that are challenging Netflix.
More layoffs are also possible due to the reorganization.