disney Chief Executive Officer Josh D’Amaro told CNBC’s Julia Boorstin on Friday that the company’s parks division delivered a “huge surprise” last quarter and that he is confident in the company’s trajectory in his first months at the head of the media giant.
“We are delivering on everything we promised,” D’Amaro said. “I think there’s clarity within the organization in terms of where we go next. The team is very stable. So it’s been almost six months and I feel pretty good about where I’m at.”
D’Amaro replaced Bob Iger as Disney’s CEO in March after a high-profile succession battle and a period of restructuring at the media giant.
A longtime Disney executive, he most recently served as chairman of Disney Experiences, a division that includes theme parks, cruise lines and consumer products, driving the company’s profitability.
Since taking the top job, his immediate task has been to maintain momentum in Disney’s core growth areas: theme parks and streaming. These areas have been hot for investors, and Disney has received mixed reviews from Wall Street in recent quarters.
“I’m not happy with where the stock is at,” D’Amaro said Friday. “Our investors are not happy about this, but we believe we are in a very good position compared to the entertainment industry.”
Disney reported quarterly results last week that reiterated the strength of its parks and streaming, and Wall Street seemed pleased with the growth of its theme parks division despite heightened macroeconomic uncertainty for consumers.
Still, the stock is down more than 8% in the past 12 months.
On Friday, D’Amaro said Disney is not “immune” from some of the headwinds hitting theme parks, but is in a position to respond if necessary. Still, he declined to say whether further price increases are planned for theme parks, saying instead he expects more investment in theme park destinations.
Streaming and shopping integration
The CEO has previously said he would focus on investing in intellectual property as he leads Disney.
“The next chapter is, first and foremost, about telling great stories. We will never forget that. We want to move forward with more speed and urgency than ever before,” D’Amaro said. “We’re going to embrace technology even more aggressively than we’ve ever done before, and importantly, we’re going to unite this company and act like, as I’ve said before, ‘One Disney.'”
D’Amaro specifically highlighted the company’s flagship streaming service.
“We have tremendous scale and we’re expanding internationally, so we’re very happy with where Disney+ is today,” D’Amaro said. “But there is clearly an opportunity to continue to grow.”
In this handout image provided by Disneyland Resort, Disney Experience Chairman Josh D’Amaro and Walt Disney Company Chief Executive Officer Bob Iger speak at the Disneyland Resort 70th Anniversary Celebration on July 17, 2025 in Anaheim, California.
Handouts | Getty Images Entertainment | Getty Images
D’Amaro said last week that the company is considering a free streaming product with ads as a way to lure more viewers to Disney+. He said Friday that the option could be a “front porch” to acquire viewers for free that could later become subscribers.
D’Amaro also pointed to the need for all business units to work together, suggesting a consumer experience that connects viewers and purchases on the same platform.
“From a streaming perspective, I don’t think we can have all the elements of Disney right in front of our eyes and not just be a streaming platform,” D’Amaro said. “Maybe not everyone is a part of every part of the business, but certainly if you put the right thing in front of the consumer, if it’s a seamless fan experience, I think lifetime value goes up.”
“I’m not interested in an ESPN spinoff.”
With the rise of streaming, Disney and its media companies are also grappling with the loss of pay-TV bundle customers, leading to significant declines in distribution and advertising revenue.
However, live sports remains a major driver for both Disney and other major networks. Disney’s ESPN and ABC own the live broadcast rights to the NFL and NBA, among other professional leagues.
At the same time, the cost of sports rights has increased significantly, creating a potential burden for media companies.
“It’s clear that we have no interest in spinning off ESPN,” D’Amaro said Friday in response to ongoing rumors and calls for a breakup from investors.
“I think anyone in the industry looks at our sports rights right now and the fandom around our sports, and you can’t help but be jealous of what we have here. I mean, the ratings are through the roof,” he said.
confusing media
Despite Disney’s strong momentum, D’Amaro also faced some drama in the first few months.
The company’s latest round of cost cuts began a few weeks after D’Amaro took the helm, with the first round of layoffs affecting about 1,000 employees. Most recently, the company was reported to have cut hundreds of employees from its ESPN, Pixar, and National Geographic divisions.
The entire media industry has been reshaped in recent months, including the proposed merger between the two companies. paramount skydance and warner bros discovery similarly comcast’s NBCUniversal’s spin-out plan.
But D’Amaro told CNBC on Friday that he was not considering such a major move.
CEOs also face increased political pressure and scrutiny, particularly around Disney’s ABC. The broadcast network is facing backlash from the Trump administration and Federal Communications Commission Chairman Brendan Carr over “Jimmy Kimmel Live!” and “The View” program.
The FCC also began an accelerated review of Disney’s broadcast license following concerns about Disney’s commitment to diversity, equity, and inclusion. Disney has fought back against the FCC throughout the initial renewal process, calling it an “unlawful, arbitrary, and unconstitutional order.”
“I’m sure you’ve seen our FCC filings, and our position on this is clear,” D’Amaro said Friday. “We’re very principled about this. We’re going to stand up for what we believe is journalism and integrity, and we’re not going to be dictated to how we run that side of our business.”
