According to a report filled with predictions for the media industry in 2023, Disney CEO Bob Iger is slated to announce details of a restructuring of The Walt Disney Company “as soon as” January 2023.
Of course, the restructuring is expected and even announced by Iger himself in an email to employees just a day after he took over as CEO back in late November. Iger’s focus will be on the Disney Media & Entertainment Distribution (DMED) branch of The Walt Disney Company – at least initially. In the November email, Iger said that he would “restructure things in a way that honors and respects creativity as the heart and soul of who we are”. Iger said that organizational changes would come in “weeks” and that the new structure would be in place in “months”.
The move by Iger is intended to undo a Chapek-era change in October 2020 that the company called a “strategic reorganization” of its media and entertainment businesses. As Iger prepares for the restructuring, the former head of the DMED business, Kareem Daniel, has already been let go.
While DMED is getting the attention that Wall Street believes it needs, the question is what will happen to the Parks division of the company. The Disney Parks, Experiences, and Products (DPEP) division is contracting a bit on margins, but still posting impressive revenue numbers. That said, The Happiest Place on Earth still has some clouds that remain from COVID-era policies such as theme park reservations and Park Hopping restrictions. Newer frustrations like a paid skip-the-line service, an Annual Pass offering that’s in limbo, and rising prices mean that a Disney theme park vacation requires more planning and budgeting than it did the last time that Iger was CEO.
As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!