How Disney Became So Successful. The Rise and Rise of The Walt Disney Company

Summary

The Walt Disney Company's journey from a small animation studio to a global entertainment giant is chronicled, highlighting its evolution from Walt Disney's early cartoons to the creation of iconic characters like Mickey Mouse. The narrative explores the company's expansion into theme parks, the acquisition of major franchises like Pixar, Marvel, and Star Wars, and the launch of Disney+. Despite its diverse interests, Disney's theme parks remain a significant revenue driver, with the potential for streaming services to rival this in the future.

Takeaways

• 🎨 Walt Disney was a cartoonist from a young age and started his own animation company with colleague Fred Harman in 1921.
• 📈 The success of 'Laughter Grams' led to the creation of the Laughing Graham Studio, but it wasn't enough to keep the company afloat, resulting in bankruptcy in 1923.
• 🌟 After moving to Hollywood, Walt and his brother Roy established the Disney Brothers Cartoon Studio, which later became the Walt Disney Studio.
• 🐭 The creation of Mickey Mouse in 1928 marked a turning point with 'Steamboat Willie,' the first cartoon to feature a fully synchronized soundtrack.
• 🏰 Disney's first feature-length film, 'Snow White and the Seven Dwarfs,' released in 1939, became the highest-grossing film of its time, financing a 50-acre complex in Burbank, California.
• 🎬 The 1950s and 60s saw the release of several Disney classics, and the company expanded into theme parks, starting with Disneyland in Anaheim in 1955.
• 🌐 Walt Disney World opened in Orlando, Florida, in 1971, and became a significant part of Disney's global appeal.
• 📺 The 1980s marked Disney's expansion into television with the launch of the Disney Channel and the opening of the first international Disney park in Tokyo.
• 🏆 The 1990s Disney Renaissance saw the release of critically acclaimed films like 'The Little Mermaid,' 'Beauty and the Beast,' 'Aladdin,' and 'The Lion King'.
• 🌟 Disney's acquisitions of Pixar, Marvel, Lucasfilm, and 21st Century Fox significantly expanded its content library and established its dominance in the entertainment industry.
• 📲 Disney+, launched in 2019, has quickly become a major streaming platform, offering content from Disney's vast array of studios and franchises.

Q & A

What was Walt Disney's first significant role in the animation industry?

Walt Disney was a keen cartoonist from a young age, drawing for his high school newspaper in Chicago and later setting up his own animation company with colleague Fred Harman in 1921.

Why did Walt Disney's first animation company go bankrupt?

Walt Disney's first animation company went bankrupt because the 'Laughter Grams' they produced were not profitable enough to keep the company afloat.

What was the name of the character that Disney created after losing the rights to Oswald the Lucky Rabbit?

After losing the rights to Oswald the Lucky Rabbit, Disney created a new protagonist named Mortimer Mouse, which was later changed to Mickey Mouse.

What technological innovation was introduced with the first Mickey Mouse cartoon, 'Steamboat Willie'?

The first Mickey Mouse cartoon, 'Steamboat Willie,' introduced a fully synchronized soundtrack, a technology that had never been seen before.

What was the name of Disney's first feature-length film and how did it perform financially?

Disney's first feature-length film was 'Snow White and the Seven Dwarfs,' which became the highest-grossing film of all time upon its release in 1939.

Why did Disney establish Buena Vista Distribution and purchase land in Anaheim?

Disney established Buena Vista Distribution and purchased land in Anaheim to form their own distribution networks and to host the first Disneyland Park, respectively.

Which Disney park was opened first and how many visitors did it welcome in its first year?

The first Disney park opened was Disneyland in Anaheim, which welcomed 1 million visitors in its first year.

What was the turning point for Disney's animation department in the 1990s?

The 1990s Disney renaissance, led by Jeffrey Katzenberg, was the turning point for Disney's animation department, producing critically and commercially acclaimed films such as 'The Little Mermaid,' 'Beauty and the Beast,' 'Aladdin,' and 'The Lion King.'

How did Disney's collaboration with Pixar begin and what was the financial arrangement?

Disney's collaboration with Pixar began with a contract for three films, which were financed and distributed by Disney but produced by Pixar. Initially, Disney took 85 percent of the profit from box office receipts, with Pixar receiving 15 percent.

Which major acquisitions did Disney make in the late 2000s and early 2010s?

Disney made major acquisitions of Pixar in 2006 for $7.4 billion, Marvel in 2009 for $4 billion, Lucasfilm in 2012 for $4 billion, and 21st Century Fox in 2019 for $71 billion.

What is the primary source of Disney's revenue, and how much did it generate last year from this sector?

The primary source of Disney's revenue is its theme parks division, which generated $26.2 billion last year before the impact of the global pandemic.