Disney Promotes Hulu Chief Joe Earley to Run Its Streaming Business

Walt Disney named Joe Earley as president of its direct-to-consumer business, a critical role that includes responsibility for the company’s flagship Disney+ and Hulu streaming services.

He’ll report to Dana Walden and Alan Bergman, the co-chairmen of Disney’s entertainment division, the company said in a statement Wednesday. Earley succeeds Michael Paull, who will leave Disney after six years.

Chief Executive Officer Bob Iger, who rejoined Disney in November with a mandate to improve returns, has been restructuring the company, restoring authority to creative executives, while also reducing costs. The initiatives are expected to save Disney $5.5 billion (about Rs. 45,064 crore), in part through the elimination of 7,000 positions.

Earley joined the company in 2019, overseeing marketing for the launch of the Disney+ service. He was elevated to president of Hulu last year and will continue to run that service until a full-time manager is appointed.

“Joe has proven himself to be an extraordinary asset and is uniquely positioned for this role as we guide Disney’s streaming strategy into the future,” Bergman and Walden said in the statement.

Disney agreed to buy Comcast’s one-third stake in Hulu next year in a deal that would value that business at $27.5 billion (about Rs. 2,25,285 crore) or more. Iger has recently suggested he might sell the operation, however. Disney appointed Goldman Sachs Group to advise on its options.

Streaming is one of the pillars of Disney’s future as revenue from cable television declines. With investors pressing media companies to boost the returns from streaming, Iger is aiming for that business to break even as early as next year.

Iger returned to lead Disney after a $1.47 billion (about Rs. 12,043 crore) quarterly loss in the company’s streaming business precipitated the ouster of his hand-picked successor, Bob Chapek. 

© 2023 Bloomberg LP

Smartphone companies have launched many compelling devices over the first quarter of 2023. What are some of the best phones launched in 2023 you can buy today? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

What do you think?

Written by

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

USFDA nod to Zydus Lifesciences glaucoma drug Acetazolamide

Kiara Advani strikes a pose in snow-covered mountains, fans ask about Sidharth Malhotra; See Pic