The Walt Disney Company or popularly known as Disney is a multinational mass media and entertainment conglomerate from the United States. The home of various cartoon characters to films is one of the giant companies ranked 150th, according to the 2020 Fortune Global 500.
Disney’s financial condition is quite healthy. The Mouse House posted impressive growth in the 2019 fiscal year. Its revenue increased 17 percent from US $ 59.43 billion to the US $ 69.57 billion.
Nevertheless, the company’s profit was reported to be down 12 percent to 11.05 billion dollars. Partly due to the consolidation costs incurred by Disney’s acquisition of 21st Century Fox and investment in its streaming service, Disney +.
Disney’s market value is 315.02 billion dollars. Meanwhile, its assets in that year were recorded at $ 193.98 billion. For the latter, its total equity in shareholders stands at $ 88.87 billion.
Disney got its start when Walt Disney and his brother, Roy, started his company called Disney Brothers Cartoon Studio. The young corporation was only formed on October 16, 1923.
Disney himself was born on December 5, 1901, in Hermosa, Chicago, Illinois. However, he spent most of his childhood in Marceline, Missouri, where he began drawing, painting, and selling drawings to neighbors and family friends.
As long as his business was running behind a small office occupied by Holly-Vermont Realty in Los Angeles, Disney worked hard. The place was rented for 10 dollars a month.
Within three years, Disney had produced two films and bought a studio in Hollywood, but difficulties with distribution rights had nearly drowned the company. But since Mickey Mouse was created in 1928, things have changed.
Around that time, Disney launched many other famous characters, such as Minnie Mouse and Donald Duck, who together formed the foundation of a company that has now expanded beyond animation.
Entering the 1930s, Disney’s steps were getting better. In 1932, the Disney Company won its first Academy Award for Best Cartoon, thanks to “Silly Symphony,” and a series of animated short films.
Meanwhile, in 1934, Disney began production of its first feature-length feature film, “Snow White and the Seven Dwarfs.” This film was released in 1937 and became the highest-grossing film of its time. However, hefty production costs made it difficult for the next few Disney animated films.
Unfortunately, big things happened. World War II stopped the production of Disney films altogether because the company contributed to the war effort by producing propaganda films for the US government.
Disney had suffered a major setback since 1941. Not only because of the war but because of the animators’ three-month strike. They failed to produce long works. Instead, Disney concentrated on short cartoons, nature documentaries, and features combining live-action and animation such as “The Three Caballeros” (1945) and “Song of the South” (1946).
After the war, however, the company had a hard time getting on with where it left off. But 1950 proved to be a turning point, thanks to the production of Disney’s first live-action film, “Treasure Island,” and another animated film, “Cinderella.”
Disney also launched several television series during this decade. In 1955, “The Mickey Mouse Club” made its debut to national TV viewers.
The same year marked another milestone for Disney. 1955 saw the opening of the first Disney theme park, Disneyland, in California.
The company’s popularity continued to rise and survived the death of its iconic founder, Walt Disney, in 1966. After Walt’s death, Roy Disney took over control of the company and was replaced by the executive team in 1971.
In the following decades, the company took advantage of merchandising opportunities, continued to produce feature films, and built additional theme parks around the world, including Disney’s first international theme park, Tokyo Disneyland in 1983.
During this time, the company underwent takeover attempts, but eventually recovered and returned to its successful track when Michael D. Eisner became its chairman in 1984.