TikTok names top Disney streaming exec as new CEO
TikTok, the popular short-video app that has also drawn national-security and privacy concerns, has a new high-profile CEO from Disney, Kevin Mayer.
Mayer will also be chief operating officer of TikTok’s Chinese parent company, ByteDance, and report to its founder and CEO, Yiming Zhang, the company announced Monday.
He led Disney’s streaming business, which launched Disney Plus in November and has already emerged as a threat in the increasingly competitive streaming-video arena, with 54.5 million subscribers. Mayer was also known for his role in building Disney through mergers, including the industry-changing 2019 acquisition of 21st Century Fox’s TV and film business that created an entertainment behemoth.
TikTok’s app features short videos, many with music and dancing, that has become a favorite of younger people and is known for its goofy, light-hearted feel. Like YouTube, it’s known for “user-generated” content rather than the big-budget, professional movies and TV shows Disney is famous for.
Having a U.S.-based CEO from a major American media company could help TikTok navigate the U.S. regulatory environment and approach to privacy and data security, said eMarketer analyst Debra Williamson. “Having someone who’s familiar with that at the helm is certain to be helpful for them,” she said.
TikTok has been the focus of U.S. national-security concerns because of its Chinese ownership. A U.S. national-security agency is reviewing ByteDance’s purchase of TikTok’s precursor, (AP)