Bob Chapek Emphasizes Disney’s Reorganized Focus On Streaming
The Walt Disney Company has always been a haven for generations who fell in love with the films, stories, and characters they’ve brought to life; Disney CEO recently spoke to the media, as Bob Chapek emphasized Disney’s reorganized focus on streaming, and continued commitment to the artistic pursuit.
Disney CEO Bob Chapek had no easy task when he inherited the globally dominant Walt Disney Company.
The world eater that Disney had become was a thriving force; one that sported the greatest collection of intellectual properties, assets, and acclaim that the world had ever seen.
Bob Iger had steered the ship into a glorious wealth of acquired studios and already established global icons. Lucasfilm, Marvel, ESPN, Hulu, and Fox all becoming vehicles to continue Disney’s success well into the foreseeable future.
Chapek took over right as the entire planet was faced with a global pandemic; forcing every single company to reimagine how they do business in the contemporary market.
Luckily for him, and the sustaining power of Disney itself, the pandemic arrived after the introduction of Disney+; a Disney exclusive streaming network that allowed fans to stream their favorite Disney classics, as well as all Disney-related properties.
The COVID-19 pandemic, and the establishment of Disney+ as a thriving consumer tool, have allowed Chapek and the leadership at The Walt Disney company to look towards the streaming platform, and creative outlets like it, as the future of the brand.
Soeakkng publicly, Chapek emphasized Disney’s reorganized to focus on Streaming; discussing the companies commitment to the continued establishment and support of some of their most beloved and consumed brands.
According to The Hollywood Reporter, Bob Chapek has emphasized Disney’s reorganized focus on streaming, shifting the company’s resources to a redistributed structure that would allow a greater emphasis placed on streaming and the like.
The Hollywood Reporter notes, “Under the new structure, unveiled in October 2020, Walt Disney created a Media and Entertainment Distribution group responsible for both the dissemination and ad sales for all of its content, including across streaming services like Disney+.”
Chapek was clear in noting that the redistribution comes from the immense success the brand has had with their properties- specifically the near relentless success of Marvel and head Kevin Fiegi- and the near-endless well of source material that should continue to feed that renewed focal point of the company.
The CEO spoke to investors, stating, “As you increase output, and go deeper and deeper into mining the Marvel mythology, it doesn’t have to tap itself out. We’ve got great stories to tell, and we’re telling great stories.”
When asked whether or not an ad-supported version of the streaming service would be made available at some point, Chapek notes his pleasure with the current incarnation of the service, noting, “We have no such plans to do that. We’re happy with the model we got.”
The Hollywood Reporter noted the increase in revenue from the brands that will benefit from the redistribution, as, according to Chapek himself, “over 40 percent of the company’s upfront sales were committed to streaming and digital, a new high watermark as the company continues to shift from its traditional linear businesses to streaming and direct-to-consumer.”
It is still unclear as to whether or not these numbers are a result of the pandemic and the large consumer base faced with countless stay-at-home orders, or if the reorganized model will continue the upward trajectory of the Chapek-led company.