In Hollywood, nobody knows anything - except Disney, occasionally. And what they know now is that the future of the Magic Kingdom isn't in streaming wars or franchise fatigue - it's in experiences.

Josh D'Amaro, the company's parks and experiences chairman, will replace Bob Iger as CEO, Disney announced Monday. It's a choice that tells you everything about where the company thinks the money is going: not on your couch, but in line for Space Mountain.

This is a fascinating pivot. For years, the entertainment industry's conventional wisdom said streaming was king. Every studio rushed to build their own Netflix, burning billions in the process. Disney went all-in on Disney+, reorganized their entire corporate structure around it, and sent Bob Chapek packing when the subscriber numbers didn't justify the spend.

Now they're betting on the guy who runs the theme parks. D'Amaro has overseen the most profitable division of Disney's empire, the one that actually makes money while Disney+ hemorrhaged cash. Under his leadership, parks revenue has soared past $32 billion annually, even as ticket prices climbed to levels that would make a Broadway producer blush.

What's telling is what this isn't: they didn't pick Dana Walden, the television executive. They didn't promote someone from the film division. They picked the parks guy, because the parks guy knows how to charge $7 for a churro and have customers thank him for the privilege.

D'Amaro joined Disney in 1998 and rose through the parks division, eventually becoming chairman of Disney Parks, Experiences and Products in 2020. He's overseen the opening of Star Wars: Galaxy's Edge, the launch of the Disney Wish cruise ship, and the continued expansion of international parks. More importantly, he's proven that people will pay premium prices for premium experiences - something streaming services are still struggling to convince subscribers of.