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Sunday, 16 October 2016

Walt Disney to merge interactive and consumer products divisions


  • Walt Disney plans to merge its interactive and consumer products divisions in response to "changing consumer preferences in a marketplace increasingly influenced by technology," the entertainment giant said in a statement on Monday.
  • Disney Consumer Products and Interactive Media, as the new unit would be named would report financial results as a combined division starting in fiscal 2016, which starts September.
  • It would be run by Leslie Ferraro, who last month was named president of Disney Consumer Products; and Jimmy Pitaro, who had led Disney Interactive since 2010. They would be co-chairs of the new division. According to a a company representative, the realignment would not lead to any layoffs.
  • Established in 2008, Disney Interactive, ran up losses of over $200 million a year between 2008 and 2012. The unit also parted company with co-president John Pleasants in November 2013.
  • The release of the video game "Disney Infinity" in summer 2013 changed the fortunes of the division. The game, which involved a development outlay of about $100 million proved to be a major hit and was followed up by a second edition that was released last year.
  • Disney Interactive posted profits in 2014, generating operating income of $116 million after losing $87 million a year earlier.
  • According to commentators, the restructuring reflected the growing overlap between the two divisions.
  • Last year, for instance saw Disney Consumer Products introduce a several digital offerings, including ''Star Wars Journeys,'' billed as app-based storybooks; a line of mobile learning apps called Imagicademy; and Playmation, a toy line that used wireless systems, motion sensors and wearable technology.
  • However, early results had been mixed and Imagicademy revenue had so far been meagre according to data from the analytics firm App Annie - signalling that the division could benefit from closer integration with the technology experts at Disney Interactive.
  • The restructuring, would see some employees take up new roles, particularly in areas like finance, business development and human resources.Source: domain-b.com
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