Disney confirms that streaming is now its top priority for films and TV

Disney has announced an immediate restructure, which will make streaming the primary focus for its film and TV productions.

Not the most surprising of news this, but at least its official. The firm has confirmed that it’ll be restructuring its media and entertainment divisions effective immediately, as it makes streaming – and in particular its excellent Disney+ service – the most important part of its business.

Given that cinemas haven’t been fully open around the world for most of the year now, it’s not the biggest shock. Disney, even before the events of 2020, had been planning to distribute more and more material itself via its streaming platform, and has been one of the least supportive of cinemas since they tried to reopen.

Now, it’s planning to separate out the production of movies, TV shows and such like from its distribution arm. That’ll then give it a single distribution arm within the company, that’ll then decide where to place the material that it makes. The “primary focus” will be its “streaming services”, according to the firm’s chief executive Bob Chapek. He argues this would “increase shareholder value”, and its respondent to the way that people want to view and access material.

This doesn’t mean that Disney is abandoning cinema, to be clear. Far from it. Just that going forward, streaming is going to take precedence.

More as we hear it.

CNBC

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