The Walt Disney Company has confirmed the merger of its Consumer Products and Interactive divisions.
The new combined segment will be called Disney Consumer Products and Interactive Media. It will be jointly run from Leslie Ferraro, president of DCP, and Jimmy Pitaro, president of Disney Interactive.
The new structure is designed to share technological expertise and maximise opportunities and efficiencies across two divisions that have increasingly become focused on similar objectives.
In addition, the change will more effectively leverage Disney’s extensive licensing structure and retail relationships across both segments, said the firm.
Tom Staggs (pictured), COO at The Walt Disney Company, commented: "Both Disney Interactive and Disney Consumer Products have a strong track record of connecting people to their favourite stories and characters.
"As technology and digital entertainment continue to evolve, a shared innovation strategy will enable this new segment to create unique and engaging products and experiences that exceed consumers’ expectations."
A new team called DCPI Labs will focus on using cutting edge technologies to create new immersive products.
Disney Publishing Worldwide will also report directly to Ferraro and Pitaro.
The traditional consumer products portfolio – product development, licensing, retail relationship management and more – will continue under Ferraro’s leadership, while Pitaro will continue to manage social and mobile games, Asia games, online media and sales and Disney Infinity.
As a result of the new structure, Disney plans to report the combined businesses as one segment for financial reporting processes as of the beginning of fiscal 2016.