Sharjah24 – AFP: Disney announced Monday a reorganization of its media and entertainment business that aims to further boost its streaming service, which has boomed during the coronavirus pandemic.
The entertainment giant tapped longtime company executive Kareem Daniel to lead the Media and Entertainment Distribution group, which will manage operations of the streaming services and manage for profit and loss across content creation, including for movie productions, television shows and sports programming.
Streaming has been a bright spot for Disney during the coronavirus, with Disney+ drawing some 60.5 million through the end of June, blunting the hit from drops in its other businesses.
Movie companies have adapted to shuttered theaters by unveiling more content on streaming services. With theaters closed in the United States, Disney premiered its "Mulan" blockbuster on Disney+ in September for $30.
While Disney said it will continue to have a vibrant theatrical movie business, the company suggested releasing blockbusters online may continue even after the pandemic is over.
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