Disney Promotes Hulu Chief Joe Earley to Run Its Streaming Business

Earley was elevated to president of Hulu last year and will continue to run that service until a full-time manager is appointed.

By Thomas Buckley, Bloomberg | Updated: 6 April 2023 12:29 IST

Disney Promotes Hulu Chief Joe Earley to Run Its Streaming Business

Photo Credit: Reuters

Disney agreed to buy Comcast’s one-third stake in Hulu next year

Highlights

CEO Bob Iger rejoined Disney in November
Joe Earley will succeed Michael Paull
Earley joined the company in 2019

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.

Moana Live-Action Movie in Development From Dwayne Johnson at Disney

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.

Our Top 10 Web Series in April on Netflix, Hotstar, Apple TV+, Prime Video

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.

Avatar: The Way of Water Is Out Now as VOD on YouTube, Apple TV: Details

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.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.