In a move that signals its commitment to staying ahead of the curve in entertainment technology, Walt Disney Co. has announced the creation of a new group: the Office of Technology Enablement (OTE). This dedicated team will spearhead the integration of emerging technologies like artificial intelligence (AI) and extended reality (XR) across Disney’s vast entertainment empire, encompassing film, television, and theme parks.
Led by Disney’s Chief Technology Officer, Jamie Voris, the OTE aims to leverage these transformative technologies to enhance consumer experiences while aligning projects with Disney’s overall strategic vision. The office plans to assemble a team of approximately 100 employees, each contributing to the company’s technological advancements.
The Office of Technology Enablement will focus on coordinating projects in rapidly evolving fields such as AI and XR, including virtual and augmented reality. This initiative builds upon Disney’s ongoing efforts to cultivate expertise across its divisions. Earlier this year, the company welcomed back Kyle Laughlin, a former Amazon executive with extensive experience in augmented and virtual reality, as the SVP of Research and Development at Walt Disney Imagineering. This division, instrumental in designing and enhancing Disney’s theme park attractions, is now intensely focused on immersive technology.
Disney Entertainment Co-Chairman, Alan Bergman, highlighted the transformative potential of AI and XR, stating that they will likely reshape both consumer experiences and creative projects. To fully dedicate himself to the OTE’s expansion and coordination efforts, Voris has handed over the role of studio CTO to Eddie Drake.
In other Disney news, the company has appointed James P. Gorman as its new Chairman of the Board, effective January 2, 2025. Gorman will succeed Mark G. Parker, who has served in the position for nine years. Parker will step down the same day, while Gorman will relinquish his role as Executive Chairman of Morgan Stanley at the end of the year. Currently leading Disney’s Succession Planning Committee, Gorman is overseeing the selection of the company’s next CEO, with an announcement expected in early 2026. During Disney’s second-quarter earnings call, CEO Bob Iger confirmed that a dedicated board committee is actively managing his succession.
Disney’s fiscal third-quarter 2024 revenue saw a 4% growth, reaching $23.16 billion, surpassing the consensus estimate of $23.11 billion. Entertainment revenue climbed by 4% to $10.58 billion, primarily driven by Disney+ Core. Sports revenue experienced a 5% increase to $4.56 billion. Experiences revenue rose by 2% to $8.39 billion. At the last check on Monday, DIS stock traded 0.23% lower at $95.59.
