Less than a year after Disney took control of Hulu, its chief executive Randy Freer is stepping down in a move aimed at consolidating the streaming services operations with the entertainment giant's direct-to-consumer wing.
<p> "I want to thank Randy for his leadership the last two years as CEO and for his collaboration the past several months to ensure an exceptionally bright future for Hulu," said Kevin Mayer, chairman of Disney's direct-to-consumer & international operations. </p><p>Under the move, Mayer said Disney will have Hulu's executive report to its direct-to-consumer and international team allowing the company "more effectively and efficiently deploy resources, rapidly grow our presence outside the U.S."</p><p>"With the successful launch of Disney+, we are now focused on the benefits of scale within and across our portfolio of DTC businesses," he said in a statement. </p><p>Disney took over control of the Santa Monica-based streaming giant last May after it struck a deal with Comcast to sell its stake by 2024. </p><p>Months later, Disney + launched and the entertainment behemoth quickly offered consumers bundled packages with its other brands including the streaming service and ESPN. It's in heated competition with other streaming giants to capture market share and content from across the globe. </p><p>Competitor Netflix is <a href="https://dot.la/ted-sarandos-netflix-upfront-summit-2644985040.html" target="_blank">producing 130 seasons of local language television</a> this year alone.</p>
From Your Site Articles
Related Articles Around the Web
Read more Show less