Disney’s 100-year journey from garage studio to media empire
In 1923, Walt Disney left his failing animation company called Laugh-O-gram Films and used his last US$40 (S$55) to buy a train ticket to join his brother, Roy, in Los Angeles, where they began making animated films out of their uncle’s garage. The company they founded would become one of the most influential media and entertainment brands in history.
The Walt Disney Co turns 100 this month.
The company, which Walt Disney famously observed “was all started by a mouse”, is now a US$156 billion behemoth, spanning theme parks, television networks, films and a streaming service that reaches millions of people across continents.
As it marks its centennial, Disney is navigating a tumultuous period for the industry, marked by the decline of the traditional television business, slumping ad revenue, a movie box office that has yet to return to pre-pandemic levels and video streaming services that for the most part have failed to achieve profitability.
Here’s a timeline of Disney’s journey from a small studio in Burbank to a global media behemoth:
| Oct 1923 | Walt Disney and brother Roy Disney start Disney Brothers Cartoon Studio after signing a contract with distributer MJ Winkler for Alice Comedies |
| March 1924 | Alice’s Day at Sea, the first short film of the Alice Comedies series, is released |
| Jan 1926 | Renames to Walt Disney Studio |
| Sept 1927 | All-cartoon series Oswald the Lucky Rabbit, a character created by Walt Disney, is released by the distributor MJ Winkler. However, Disney later has a falling-out with Winkler after realising he doesn’t own the rights to his work |
| May 1928 | Popular character Mickey Mouse, co-created with Ub Iwerks, debuts in relatively unsuccessful cartoon shows Plane Crazy and The Gallopin’ Gaucho |
| Nov 1928 | Mickey’s claim to fame, Steamboat Willie, premiers. Minnie Mouse is introduced |
| Dec 1929 | Company spun off into four unit — Walt Disney Productions, Walt Disney Enterprises, Liled Realty and Investment Co, and the Disney Film Recording Co |
| 1930 | Disney merchandising begins, the first Mickey Mouse book and newspaper comic strip are published |
| 1932 | One of the first full-colour cartoons, Flowers and Trees, a part of the Silly Symphony series, wins the Academy Award for best cartoon |
| Feb 1935 | First Mickey Mouse cartoon in colour, The Band Concert, is released |
| Dec 1937 | First feature-length animated film, Snow White and the Seven Dwarfs, is released |
| 1942 | Begins making propaganda and training films for the American military during the Second World War. Saludos Amigos is created to promote good relations with South America |
| Jan 1943 | Anti-Nazi film Der Fuehrer’s Face is released, wins the Academy Award for Best Cartoon |
| 1945 | Releases Destino, a film made in collaboration with Spanish artist Salvador Dalí |
| Dec 1948 | Releases Seal Island, its first documentary film |
| Oct 1949 | Launches Walt Disney Music Company |
| July 1950 | Release of Treasure Island, first completely live-action feature. |
| Dec 1950 | Releases its first television show One Hour in Wonderland |
| Feb 1953 | Releases Peter Pan |
| Oct 1954 | First airing of Disneyland television show |
| Jul 1955 | Opens the first Disneyland theme park |
| Oct 1955 | First programme of the Mickey Mouse Club television series airs |
| Aug 1964 | Release of Mary Poppins |
| Dec 1966 | Walt Disney dies |
| Dec 1971 | Roy Disney dies |
| Nov 1976 | Card Walker named CEO, replacing Donn Tatum |
| Nov 1977 | Roy E Disney, son of co-founder Roy O Disney, announces his resignation |
| 1982 | Coca-Cola launches a series of unsuccessful attempts to buy Disney |
| April 1983 | First Disney Theme Park outside of the United States opens in Tokyo |
| 1983 | Ron W Miller replaces Walker as CEO; Raymond Watson becomes chairman |
| April 1983 | Disney Channel begins airing |
| Feb 1984 | Launches Touchstone Film label in an attempt to cater to mature audiences |
| 1984 | Walt Disney’s nephew Roy Edward Disney and his business partner, Stanley Gold, remove Ron Miller as CEO and president and Raymond Watson as chairman, replacing them with Michael Eisner and Frank Wells in the aftermath of an unsuccessful buyout attempt by investor Saul Steinberg. Eisner became the first person with no personal connection to Walt Disney to lead Walt Disney Productions. His first four years as CEO would see Disney surge from last place to first in box-office receipts among the eight major studios |
| 1986 | Walt Disney Productions renamed The Walt Disney Company |
| Feb 1989 | Launches Hollywood Pictures label to produce comedy films aimed towards mature audiences |
| 1989 | Launches Hollywood Records, offering recordings ranging from rap to movie soundtracks |
| May 1991 | Joins the Dow Jones Industrial Average index |
| Jan 1992 | Sets up Disney Publishing Group, which includes Hyperion Books, Hyperion Books for Children and Disney Press |
| April 1992 | Euro Disneyland, now Disneyland Paris, opens in Marne-la-Vallée, France |
| April 1994 | First show from Disney Theatrical Productions — Beauty and the Beast — opens on Broadway |
| April 1994 | Frank Wells, president of the Walt Disney Co, dies in a helicopter crash |
| July 1994 | Releases animated musical The Lion King |
| July 1995 | Announces acquisition of Capital Cities/ABC Inc for US$19 billion |
| 1996 | Acquires Jumbo Pictures |
| 1997 | Enters a 10-year distribution partnership with Pixar |
| 2000 | Bob Iger becomes president |
| Dec 2003 | Walt Disney’s nephew Roy Disney resigns as chairman of Feature Animation division and as vice chairman of the company’s board. In a letter to then-CEO Michael Eisner, he alleged that the company failed under Eisner during the previous seven years, citing low attendance at theme parks and “loss of public trust” among other reasons. After his resignation, he helped establish the website called SaveDisney.com aimed at ousting Eisner. |
| May 2003 | Finding Nemo releases. |
| July 2003 | Pirates of the Caribbean: Curse of the Black Pearl releases. |
| 2004 | Comcast launches an unsolicited US$54.1 billion takeover offer for Disney in February, triggering a battle to keep the entertainment company independent. The cable TV provider abandoned its bid two months later, after it became apparent that it was too low to succeed. |
| March 2005 | Eisner announces that he would resign that September, one year before his contract expired. |
| Oct 2005 | Iger becomes CEO |
| Jan 2006 | Announces acquisition of Toy Story creator Pixar Animation Studios in a US$7.4 billion deal |
| Feb 2006 | Announces merger of its ABC Radio stations with Citadel Broadcasting in a US$2.7 billion deal |
| Aug 2009 | Announces acquisition of Marvel Entertainment in US$4 billion deal |
| Jan 2012 | Acquires controlling interest in Indian entertainment firm UTV |
| Oct 2012 | Announces acquisition of Star Wars producer Lucasfilm for US$4.05 billion |
| Feb 2013 | Achieves US$100 billion in market capitalisation |
| Nov 2013 | Releases Frozen, one of its top-grossing animated movies |
| Dec 2015 | Releases Star Wars: The Force Awakens, the first Lucasfilm titled release under the new owner |
| 2016 | Shanghai Disney Resort opens, the first Disney theme park in mainland China |
| Aug 2017 | Acquires majority stake in BAMTech |
| Dec 2017 | Announces a deal to buy 21st Century Fox’s film and television studios, entertainment networks and international TV businesses, for US$52.4 billion. Comcast launches a competing bid of US$65 billion for Fox, driving up the price Disney paid for the assets. The acquisition closed in 2019 at a raised bid of US$71.3 billion. |
| Nov 2019 | Launches Disney+ streaming service |
| Jan 2020 | Hong Kong Disneyland closes, as the region deals with the rising threat of Covid-19. The spread of the deadly virus causes the company to shutter all its theme parks. The Disneyland Resort in Anaheim, California, remained closed for 412 days – the longest closure in its history |
| Feb 2020 | Elevates parks head Bob Chapek to CEO of Disney |
| March 2022 | Disney issues statement opposing Florida’s law that banned classroom discussion of sexuality and gender identity with younger children. Opponents labeled the measure the “don’t say gay” bill, saying it would hurt LGBTQ children. |
| April 2022 | Florida Governor Ron DeSantis signs a bill that strips Disney of self-governing authority at its Orlando-area parks in apparent retaliation for its opposition to the Parental Rights in Education law. |
| Aug 2022 | Activist investor Third Point discloses stake worth US$1 billion, recommends changes at Disney |
| Sept 2022 | Disney announces truce with activist investor Third Point, appoints tech and media veteran Carolyn Everson to the board of directors |
| Nov 2022 | Iger reinstated as CEO, replacing Chapek |
| Dec 2022 | Launches ad-supported subscription tier on its streaming service Disney+ |
| Jan 2023 | Activist investor Nelson Peltz of Trian Fund Management formally launches a battle for a board seat at Disney to rescue the entertainment giant from what he called a “crisis” of overspending on the streaming business, the purchase of 21st Century Fox and failed succession planning. |
| Feb 2023 | Announces a sweeping restructuring, including 7,000 job cuts, in an effort to save US$5.5 billion in costs and to make its streaming business profitable |
| Feb 2023 | Peltz ends his quest for a board seat |
| April 2023 | Disney sues Florida Governor Ron DeSantis in federal court, claiming he was “weaponising” state government in retaliation for the company’s criticism of a law that banned classroom discussion of sexuality and gender identity with younger children |
| May 2023 | Thousands of film and television writers go on strike after the Writers Guild of America (WGA) called its first work stoppage in 15 years after failing to reach an agreement with major studios such as Disney and Netflix over payment and limits on the use of artificial intelligence |
| July 2023 | Hollywood actors go on strike after talks with studios break down, joining film and television writers who have been on picket lines since May and deepening the disruption of scores of shows and movies |
| Oct 2023 | Activist investor Nelson Peltz’s Trian Fund Management amasses roughly US$2.5 billion worth of shares in Disney, and is expected to ask the company for multiple board seats |
| Oct 2023 | Hollywood writers union ratifies three-year labour contract after strike |
What’s your Reaction?
+1
+1
+1
+1
+1
+1
Leave a Reply