Disney is moving its Consumer Products division (DCP) out of the Disney Experiences unit and into Disney Entertainment, placing it under the company's Studios arm. The reorganisation, announced in a joint memo from Thomas Mazloum and Alan Bergman, is intended to bring commerce teams closer to the creative and business staff behind Disney's films, TV shows and franchises, and comes just a day before CEO Josh D'Amaro's team reports third-quarter earnings.

The shift, which takes effect from October 2026, covers the majority of DCP's operations and affects a business that generated $63 billion in licensed retail sales in 2025, making Disney the world's top licensor by a wide margin over rivals such as Authentic Brands Group and NBCUniversal. Lisa Baldzicki will remain DCP president under the new structure. It is the second division to move from Experiences to Entertainment in six months, following a similar move by the Games and Digital Entertainment unit in March, with executives describing the overlap between the merging teams as minimal.