Disney CEO Josh D’Amaro told CNBC’s Julia Boorstin on Friday that the company’s parks division was a “big surprise” last quarter and that he feels confident in the company’s trajectory during his first months atop the media giant. “We’re doing everything we said we were going to do,” D’Amaro said. “I think there’s clarity within the organization in terms of where we need to go next. A lot of stability with the team. So you know, almost six months later, I feel pretty good about where we are.” D’Amaro took over as Disney CEO in March, replacing Bob Iger after a closely watched succession race and a turnaround period at the media giant. The veteran Disney executive had most recently served as president of Disney Experiences, the unit that includes theme parks, cruise lines and consumer products and drives the company’s profitability. His immediate tasks since taking the top job have been to maintain momentum in Disney’s main growth areas, namely its theme parks and streaming divisions. These areas have been a focus for investors, and in recent quarters, Disney has received a mixed reception from Wall Street. “I’m not happy with where stocks are right now,” D’Amaro said Friday. “Our investors aren’t happy about it, but I think we’re in a great space relative to the entertainment industry.” Last week, Disney reported quarterly results that once again showed the strength of parks and streaming, and Wall Street seemed pleased with growth in Disney’s theme parks segment despite growing macroeconomic uncertainty for consumers. Still, the stock is down more than 8% over the past 12 months. On Friday, D’Amaro said that while Disney is not “immune” to some of the headwinds affecting theme parks, the company is in a position to respond if necessary. Still, he did not reveal whether further price increases would come at the theme parks and instead said he expected more investment in his destinations. Integrating streaming and shoppingThe CEO has previously said that his focus in leading Disney is on investing in intellectual property. “The next chapter is about, first and foremost, telling great stories. We will never forget that. We want to move forward with more speed and urgency than before,” D’Amaro said. “Embrace technology even more aggressively than in the past and, more importantly, unite this company to act as ‘One Disney,’ something you’ve heard me say before.” D’Amaro specifically highlighted the company’s flagship streaming service. “We have tremendous scale, growing scale internationally. So as it stands today, I feel very good about where Disney+ is,” D’Amaro said. “But obviously there are opportunities to continue to grow.” In this image provided by Disneyland Resort, Disney Experiences Chairman Josh D’Amaro and The Walt Disney Company CEO Bob Iger speak during Disneyland Resort’s 70th Anniversary Celebrations on July 17, 2025 in Anaheim, California.Handout | Getty Images Entertainment | Getty ImagesD’Amaro said last week that the company is considering a free, ad-supported streaming product as a way to attract more viewers to Disney+. On Friday, he called the option a potential “front porch” to attract free viewers who could then become subscribers. D’Amaro also highlighted the need for all business units to work together and hinted at a consumer experience that could combine viewing with purchasing products on the same platform. “From a streaming perspective, instead of just being a streaming platform, why not have all the elements of Disney come to life right in front of you?” D’Amaro said. “Everyone may not be involved in every part of the business. But certainly, if we put the right things in front of the consumer, if it’s a seamless experience for the fans, I think the lifetime value increases.” ‘I’m not interested in spinning off ESPN’ In the context of the streaming buildout, Disney and its media peers have also been grappling with the loss of pay-TV package customers, leading to significant declines in distribution and advertising revenue. However, live sports remain a major driver for both Disney and other major networks. ESPN and Disney’s ABC own the rights to live broadcast the NFL and NBA, as well as other professional leagues. At the same time, the cost of sports rights has increased dramatically and could become a potential pressure on media companies. “I have made it clear that I am not interested in spinning off ESPN,” D’Amaro said Friday, responding to continued rumors and calls from investors to spin off ownership. “I think anyone in the industry would look at our sports rights and the fandom associated with sports right now, and you can’t help but be envious of what we have here. I mean, the ratings are through the roof,” he said. Media in crisis Despite Disney’s strong push, D’Amaro has also faced some drama in his first few months. The company’s latest round of cost-cutting began weeks after D’Amaro took the helm, with an initial round of layoffs affecting nearly 1,000 employees. Most recently, the company reportedly laid off several hundred employees from its ESPN, Pixar and National Geographic divisions. The media industry as a whole has been changing in recent months, including the proposed merger between Paramount Skydance and Warner Bros. Discovery, as well as Comcast’s planned spinoff of NBCUniversal. D’Amaro, however, told CNBC on Friday that he was not considering any such significant move. The CEO has also faced increasing political pressure and scrutiny, particularly around Disney’s ABC. The broadcast network has faced backlash from the Trump administration and Federal Communications Commission Chairman Brendan Carr for its show “Jimmy Kimmel Live!” and the “La Vista” programs. The FCC also opened an early review of Disney’s broadcast station licenses following concerns about the company’s diversity, equity and inclusion efforts. Disney has responded to the FCC throughout the early renewal process, calling it an “illegal, arbitrary and unconstitutional order.” “I think you saw in our filings with the FCC that our position on this is clear,” D’Amaro said Friday. “We’re very principled in this. We’re going to stand up for what we believe is journalism and integrity, and you’re not going to tell us how to run that side of our business.” Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
