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 about the company’s trajectory during his first few months at the top of the media giant.
“We’re delivering on everything that we said we’re going to deliver on,” D’Amaro said. “I think there’s clarity inside of the organization in terms of where we need to to go next. A lot of stability with the the team. So you know, almost six months in, I’m feeling pretty good about where we are.”
D’Amaro stepped into the role of Disney CEO in March, succeeding Bob Iger after a closely watched succession race and following a turnaround period at the media giant.
The longtime Disney executive had most recently served as chairman of Disney Experiences, the unit that includes the theme parks, cruise lines and consumer products, and which drives profitability for the company.
His immediate tasks since assuming the top job have been sustaining momentum in Disney’s core 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 the stock stands right now,” D’Amaro said Friday. “Our investors aren’t happy with that, but I do believe that we’re sitting in a very great space relative to the entertainment industry.”
Last week Disney reported quarterly results that once again showcased the strength of parks and streaming, and Wall Street appeared pleased with growth in Disney’s theme park segment despite mounting macroeconomic uncertainty for consumers.
Still, the stock is down more than 8% in the last 12 months.
On Friday, D’Amaro said that while Disney isn’t “immune” to some of the headwinds hitting theme parks, the company is positioned to respond if needed. Still, he fell short of disclosing whether further theme park price increases were coming, and instead said to expect further investments in its destinations.
Integrating streaming and shopping
The CEO has previously said that his focus in leading Disney is on investing in intellectual property.
“This next chapter is about, No. 1, telling great stories. We’ll never forget that. We want to move with more speed and urgency than we have before,” D’Amaro said. “Embrace technology even more aggressively than we have in the past, and importantly, bring this company together to act like ‘One Disney,’ which you’ve heard me say before.”
D’Amaro highlighted the company’s flagship streaming service, specifically.
“We have tremendous scale, growing scale internationally. So as it is today, I feel very good about where Disney+ is,” D’Amaro said. “But there are opportunities, obviously, to keep growing it.”
In this handout image provided by Disneyland Resort, Disney Experiences Chairman Josh D’Amaro and The Walt Disney Company Chief Executive Officer Bob Iger speak during the 70th anniversary celebrations of Disneyland Resort on July 17, 2025 in Anaheim, California.
Handout | Getty Images Entertainment | Getty Images
D’Amaro said last week the company is considering a free, ad-supported streaming product as a way to beckon more viewers to Disney+. On Friday, he called the option a potential “front porch” to get viewers in for free who could later become subscribers.
D’Amaro also noted the need to have all business units working in tandem and hinted at a consumer experience that could mesh viewership with buying products on the same platform.
“From a streaming perspective, instead of just being a streaming platform, why wouldn’t we have all of the elements of Disney come to life right there in front of you,” D’Amaro said. “Everyone may not participate in every part of the business. But certainly, if we put the right things in front of the consumer, if it’s a seamless fan experience, I think that lifetime value goes up.”
‘Not interested in spinning off ESPN’
In the backdrop of building out streaming, Disney and its media peers have also been contending with the loss of pay-TV bundle customers, which has led to considerable declines in distribution and advertising revenues.
Live sports, however, remain a major driver for both Disney and other major networks. Disney’s ESPN and ABC own the rights to live NFL and NBA, in addition to other pro leagues.
At the same time, the cost of sports rights has risen dramatically and could become a potential strain on media companies.
“I’ve been clear that I’m not interested in spinning off ESPN,” D’Amaro said Friday, responding to ongoing rumors and calls from investors to split off the property.
“I think that anybody in the industry would look at our sports rights and the fandom associated with sports right now, and you can’t help but be jealous of what we have here. I mean, ratings are through the roof,” he said.
Media in turmoil
Despite the strong momentum for Disney, 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 cut several hundred employees from its ESPN, Pixar and National Geographic divisions.
The media industry at large has been shapeshifting in recent months, including the proposed merger between Paramount Skydance and Warner Bros. Discovery as well as Comcast’s planned spinout of NBCUniversal.
D’Amaro, however, told CNBC on Friday he wasn’t considering any such significant moves.
The CEO has also been faced with 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 “Jimmy Kimmel Live!” and “The View” programs.
The FCC has also opened an early review of Disney’s broadcast station licenses following concerns around the company’s diversity, equity and inclusion efforts. Disney has shot back at the FCC throughout the early renewal process, calling it an “unlawful, arbitrary, and unconstitutional order.”
“I think you saw in our FCC filings our position on this is clear,” D’Amaro said on Friday. “We’re very principled on this. We’re going to stand up to what we believe is journalistic and integrity, and we’re not going to be told how to run that side of our business.”
