The Walt Disney Co. has named Josh D’Amaro as its new CEO, succeeding Bob Iger. D’Amaro, who has been with Disney since 1998, is praised for his experience and leadership in Disney’s parks and cruises division. Under his leadership, the division has seen significant revenue and profit growth.
D’Amaro’s appointment comes at a time of massive growth for Disney’s parks division, with $60 billion committed to park investments over a decade. Since taking over as head of experiences, revenue in the division has grown nearly 40%, with profits increasing by nearly 50%. The division accounted for 40% of Disney’s total annual revenue last year.
D’Amaro’s focus on consumer experience has led to the successful launch of new rides and themed lands in Disney parks worldwide. He has also overseen the expansion of Disney’s cruise line and strategic investments in consumer products to attract a younger demographic. His deep involvement in Disney’s IP integration has been crucial to the division’s success.
As Disney’s new CEO, D’Amaro will face challenges in navigating the streaming and linear television business. With the rise of cord-cutting and decline in advertising revenue, streaming has become a priority for media companies. Disney’s streaming services, including Disney+, Hulu, and ESPN, will be a key focus for D’Amaro to maintain the stability of Disney’s streaming future. Disney CEO Bob Chapek steps down, replaced by former CEO Bob Iger. Iger expresses optimism for the future of the entertainment business, citing growth potential in both movies and streaming services. New CEO Josh D’Amaro faces the challenge of following in Iger’s footsteps and maintaining Disney’s success.
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