Disney names new CEO as UK streaming shows early lift
Walt Disney has ended its long-running succession drama by appointing parks chief Josh D’Amaro as its next chief executive, as the group begins to see tentative signs of recovery in its UK streaming business.
D’Amaro, chairman of Disney Experiences, is to take over from Bob Iger at Disney’s annual meeting on 18 March.
Iger, who led the firm for much of the past two decades, will remain as a senior adviser and board member until his retirement at the end of the year.
“There is no limit to what Disney can achieve, and I am excited to work with our teams across the company and brilliant creative partners to honour Disney’s remarkable legacy”, the new boss said in a statement. The announcement comes against a mixed backdrop for the media giant’s entertainment branch.
While overall profits remain under pressure from high content and marketing costs, recent UK data shows Disney+ is finally regaining some ground after a prolonged period of stagnation.
UK streaming stabilises as succession settles
According to Enders Analysis, Disney+ engagement in the UK has begun to improve after over 18 months of decline, with the gap to Netflix narrowing for the first time, albeit modestly.
The shift follows price changes, content re-calibration and a broader rethink of how Disney both markets and positions its various platforms.
In its latest quarter, Disney’s entertainment revenues rose five per cent year on year to $26bn, but operating income fell nine per cent to $4.6bn, as spending continued to bite.
The streaming giant has acknowledged that visibility is lower than in previous years, but has pointed to brand-led marketing reforms and a clearer streaming strategy as foundations for its recovery.
Those changes now fall under the watch of D’Amaro, who has spent nearly three decades inside Disney, joining in 1988 and rising through its consumer products division, Disneyland and Walt Disney World before being in charge of the parks, cruises and Imagineering division five years ago.
Alongside D’Amaro’s promotion, Disney confirmed that Dana Walden, co-chair of Disney Entertainment, has been appointed president and chief creative officer, reporting directly to the new boss.
The move is designed to keep creative power close to the top at a time when competition remains fierce in the sector, and content efficiency is under scrutiny.
Iger said D’Amaro “has an instinctive appreciation of the Disney brand, and a deep understanding of what resonates with our audiences, paired with the rigor and attention to detail required to deliver some of our most ambitious projects.”
The board, chaired by James Gorman, has been under pressure to prove it had learned from the chaotic handover to Bob Chapek in 2020, which ended with Iger’s return two years later.