Disney recently refined its segment reporting into two major categories: “Media and Entertainment Distribution” and “Parks, Experiences and Products” detailed in this filing. We have advocated for a separation of Parks from Media, most recently in March 2020.
The requisite leadership is in place to manage two separately-traded public companies post-spin. Disney’s Parks, Experiences and Products segment is led by Josh D’Amaro. Mr. D’Amaro succeeded Bob Chapek, now Disney’s CEO. Kareem Daniel leads Disney’s Media and Entertainment Distribution segment. Rebecca Campbell leads Disney’s Direct-To-Consumer (“DTC”) business – the Netflix competitor – and Alan Bergman leads Disney’s Studio business.
Disney’s DTC business represents 22% of Disney’s “Media and Entertainment Distribution” revenues at $10.6 billion (which is 42% of Netflix’s reported revenue), as the DTC business continues to scale (DTC grew 22% sequentially in the most recently reported quarter). Disney next reports on February 11th.