Disney

The Walt Disney Company is one of the largest entertainment and media conglomerates in the world, founded October 16, 1923 by brothers Walt Disney and Roy O. Disney as the Disney Brothers Cartoon Studio in Los Angeles. What began as an animation studio producing short films became the most recognizable entertainment brand in history, spanning animated films, live-action films, theme parks, television networks, streaming services, cruise lines, consumer products, and publishing. Disney is the parent company of Pixar, Marvel Entertainment, Lucasfilm, 20th Century Studios, ABC, ESPN, and Disney Plus. The company’s estimated value exceeds $200 billion.

Disney’s History

The Early Years and Mickey Mouse (1923 to 1937)

Walt Disney’s first major character was Oswald the Lucky Rabbit in 1927, created for Universal Pictures. When Universal took the character rights, Disney created Mickey Mouse. Steamboat Willie in 1928 was the first Mickey Mouse cartoon released and the first to feature synchronized sound, making it a landmark in film history. Mickey became the most recognized fictional character in the world within a few years of his debut. Donald Duck, Pluto, and Goofy followed as Disney built one of the most beloved ensemble casts in animation.

The Golden Age of Animation (1937 to 1967)

Snow White and the Seven Dwarfs in 1937 was the first feature-length cel-animated film in history and is considered one of the most significant films ever made. Despite being nicknamed Disney’s Folly during production by industry observers who doubted its commercial viability, it grossed approximately $8 million against a $1.5 million budget and won an honorary Academy Award. Pinocchio, Fantasia, Dumbo, Bambi, Cinderella, Alice in Wonderland, Peter Pan, Lady and the Tramp, Sleeping Beauty, 101 Dalmatians, The Sword in the Stone, and The Jungle Book followed in the studio’s Golden Age. Walt Disney died December 15, 1966, before The Jungle Book was released.

The Disney Renaissance (1989 to 1999)

After a creatively fallow period in the 1970s and early 1980s, Disney Animation entered a renaissance beginning with The Little Mermaid in 1989. Beauty and the Beast in 1991 became the first animated film nominated for the Academy Award for Best Picture. Aladdin, The Lion King, Pocahontas, The Hunchback of Notre Dame, Hercules, Mulan, and Tarzan followed in the most commercially and critically successful decade in Disney Animation’s history since the 1940s. The Lion King in 1994 remains the highest-grossing traditionally animated film of all time.

The Pixar Partnership and Modern Era

Toy Story in 1995, produced by Pixar Animation Studios and distributed by Disney, was the first fully computer-animated feature film. Disney acquired Pixar in 2006 for $7.4 billion. The partnership produced Finding Nemo, The Incredibles, WALL-E, Up, Toy Story 3, Inside Out, Coco, and Soul, among others. Disney’s own animation studios continued producing successful films including Frozen in 2013, which became the highest-grossing animated film of all time at that point, and Moana, Encanto, and Wish.

Disney’s Major Acquisitions

Under CEO Bob Iger, Disney executed a series of transformative acquisitions. Pixar was acquired in 2006 for $7.4 billion. Marvel Entertainment was acquired in 2009 for $4 billion, giving Disney control of the Marvel Cinematic Universe and its thousands of characters. Lucasfilm was acquired in 2012 for $4.05 billion, bringing Star Wars and Indiana Jones into the Disney portfolio. 21st Century Fox was acquired in 2019 for approximately $71.3 billion, adding 20th Century Studios, National Geographic, FX, and the X-Men and Fantastic Four rights back to Marvel. These four acquisitions transformed Disney from a media company into the dominant force in global entertainment.

Disney Theme Parks

Disneyland opened July 17, 1955 in Anaheim, California and was the first theme park of its kind, designed as an immersive environment telling stories through architecture, rides, and characters. Walt Disney World opened October 1, 1971 in Orlando, Florida and is the most visited theme park resort in the world. Disney parks operate in Paris, Tokyo, Hong Kong, and Shanghai. More than 150 million people visit Disney attractions annually worldwide. The parks are one of Disney’s most significant revenue streams and the primary physical manifestation of the brand’s promise.

Disney on Television

Disney acquired the ABC television network in 1996, which also gave it control of ESPN, then the most valuable cable network in the world. Disney Channel has been one of the most successful children’s cable networks for decades. Disney Plus launched November 12, 2019 and reached 135 million subscribers by 2022, available in over 190 countries. The streaming service houses Disney, Pixar, Marvel, Star Wars, and National Geographic content and has become a primary distribution vehicle for the company’s major properties.

Disney in Video Games

Disney’s gaming history spans from the NES era through the present. Classic Disney games including DuckTales, Chip ‘n Dale Rescue Rangers, and Aladdin on the SNES were among the best-licensed games ever made. Kingdom Hearts, developed by Square Enix, has been a major franchise since 2002, combining Disney characters with original characters in an action RPG format. Disney licenses its characters to game developers across multiple publishers. Disney mobile games have accumulated over 1.5 billion global installs. Nine Disney game franchises have each grossed over $1 billion in sales. In 2024, Disney announced a partnership with Epic Games to create a connected games and entertainment universe within Fortnite.