Iger has also said that the restructuring will see the departure of Disney Media and Entertainment Distribution Chairman Kareem Daniel
According to the company statement, Iger will be 'more uniquely suited' to lead the company during its crisis period, following falling stocks and lacklustre earnings this year
The company has, however, beaten expectations by adding 12.1 million new subscribers
According to Chapek, the acquisition of IPL TV rights and ICC digital rights by Walt Disney’s India unit is a great example of seeking value through different strategies
Walt Disney Company CEO Bob Chapek has said the company will continue to invest in local programming across the globe, including India
The average monthly revenue per paid subscriber increased from $0.78 to $1.20 due to higher per-subscriber advertising revenue, the company said
Chapek's contract was to get over in February
The company has, however, said it will cut down spending on movies and TV shows
The Disney CEO also said during the Q1 earnings call that Disney's sports proposition internationally varies by market
The company plans to build its metaverse by connecting physical and digital worlds even more closely, CEO Chapek told analysts during the Q4 earnings conference call
The Disney boss was speaking at Goldman Sachs 30th Annual Communacopia Conference
India contributed almost 38 million paid subscribers to Disney+'s total of 110 million subscribers in the third quarter ending June
Disney CEO Bob Chapek had said that the Indian video streaming market is unique as the market dynamics are totally different compared to other markets
Disney CEO Chapek also said that the company understands that the one-size-fits-all strategy doesn't work everywhere particularly in unique markets like India and Southeast Asia
The Walt Disney Co. Chief Executive Officer Chapek notes that consumers are increasingly choosing to watch content online, and Disney wants to stay ahead of the trend
Chapek was speaking at the Morgan Stanley Technology, Media, and Telecommunications Conference
We bring you a roundup of the news that made headlines this past week
The two will now report to Disney CEO Bob Chapek
The Walt Disney Company will continue to ramp up investments in Direct To Consumer (DTC) business, said CEO Bob Chapek during the earnings call
The company has announced the rejig to accelerate its direct-to-consumer strategy after the rapid success of Disney+
In the earnings announcement, Bob Chapek, CEO, The Walt Disney Company, said that Disney Plus surpassed 60.5 million paid subscribers globally on 3 August
Mayer has also been appointed as Chief Operating Officer of ByteDance, TikTok's parent company
With COVID-19 impacting Disney's Q2 results, the company board has decided to forgo the next semi-annual cash dividend
Chapek, who was earlier heading the Parks division, will take over from Iger, who will continue as the executive chairman at Disney