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The Walt Disney Company, commonly known as Disney (), is an American multinational
mass media Mass media refers to a diverse array of media technologies that reach a large audience via mass communication. The technologies through which this communication takes place include a variety of outlets. Broadcast media transmit informatio ...
and
entertainment Entertainment is a form of activity that holds the attention and interest of an audience or gives pleasure and delight. It can be an idea or a task, but is more likely to be one of the activities or events that have developed over thousan ...
conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** Co ...
headquartered at the Walt Disney Studios complex in
Burbank, California Burbank is a city in the southeastern end of the San Fernando Valley in Los Angeles County, California, United States. Located northwest of downtown Los Angeles, Burbank has a population of 107,337. The city was named after David Burbank, wh ...
. Disney was originally founded on October 16, 1923, by brothers Walt and Roy O. Disney as the Disney Brothers Studio; it also operated under the names the Walt Disney Studio and Walt Disney Productions before changing its name to the Walt Disney Company in 1986. Early on, the company established itself as a leader in the
animation industry Animation is a method by which still figures are manipulated to appear as moving images. In traditional animation, images are drawn or painted by hand on transparent celluloid sheets to be photographed and exhibited on film. Today, most anima ...
, with the creation of the widely popular character Mickey Mouse, who is the company's mascot, and the start of animated films. After becoming a major success by the early 1940s, the company started to diversify into
live-action Live action (or live-action) is a form of cinematography or videography that uses photography instead of animation. Some works combine live-action with animation to create a live-action animated film. Live-action is used to define film, video ga ...
films,
television Television, sometimes shortened to TV, is a telecommunication Media (communication), medium for transmitting moving images and sound. The term can refer to a television set, or the medium of Transmission (telecommunications), television tra ...
, and theme parks in the 1950s. Following Walt's death in 1966, the company's profits began to decline, especially in the animation division. Once Disney's shareholders voted in
Michael Eisner Michael Dammann Eisner (born March 7, 1942) is an American businessman and former chairman and chief executive officer (CEO) of The Walt Disney Company from September 1984 to September 2005. Prior to Disney, Eisner was president of rival film st ...
as the head of the company in 1984, the studio began to see an overwhelming amount of success during a period called the Disney Renaissance. In 2005, under new CEO Bob Iger, the company started to expand and acquire other corporations.
Bob Chapek Robert Alan Chapek (born 1960) is an American media executive who was the chief executive officer (CEO) of The Walt Disney Company from 2020 to 2022. Before becoming CEO, Chapek had a 26-year career with The Walt Disney Company, beginning in th ...
became the head of Disney in 2020 after Iger's retirement. Iger would be reinstated as CEO after Chapek was ousted in 2022. Since the 1980s, Disney has created and acquired corporate divisions in order to market more mature content than is typically associated with its flagship family-oriented brands. The company is known for its
film studio A film studio (also known as movie studio or simply studio) is a major entertainment company or motion picture company that has its own privately owned studio facility or facilities that are used to make films, which is handled by the production ...
division Walt Disney Studios, which includes Walt Disney Pictures,
Walt Disney Animation Studios Walt Disney Animation Studios (WDAS), sometimes shortened to Disney Animation, is an American animation studio that creates animated features and short films for The Walt Disney Company. The studio's current production logo features a scene fro ...
, Pixar,
Marvel Studios Marvel Studios, LLC (originally known as Marvel Films from 1993 to 1996) is an American film and television production company that is a subsidiary of Walt Disney Studios, a division of the Walt Disney Company. Marvel Studios produces the Mar ...
, Lucasfilm, 20th Century Studios,
20th Century Animation 20th Century Animation, Inc. (originally known as Fox Family Films, Fox Animation Studios, and 20th Century Fox Animation and sometimes referred to as Fox Animation) is an American animation studio located in Century City, Los Angeles. Formed i ...
, and
Searchlight Pictures Searchlight Pictures, Inc. is an American film production company and a subsidiary of Walt Disney Studios, which is part of the Walt Disney Company. Founded in 1994 as Fox Searchlight Pictures, Inc. for 20th Century Fox (later 20th Century Stu ...
. Disney's other main business units include divisions in television, broadcasting, streaming media, theme park resorts, consumer products, publishing, and international operations. Through these various segments, Disney owns and operates the ABC broadcast network; cable television networks such as Disney Channel,
ESPN ESPN (originally an initialism for Entertainment and Sports Programming Network) is an American international basic cable sports channel owned by ESPN Inc., owned jointly by The Walt Disney Company (80%) and Hearst Communications (20%). The ...
, Freeform, FX, and National Geographic; publishing, merchandising, music, and theater divisions; direct-to-consumer streaming services such as
Disney+ The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded on October 1 ...
, Star+, ESPN+,
Hulu Hulu () is an American subscription streaming service majority-owned by The Walt Disney Company, with Comcast's NBCUniversal holding a minority stake. It was launched on October 29, 2007 and it offers a library of films and television seri ...
, and Hotstar; and Disney Parks, Experiences and Products, which includes several theme parks, resort hotels, and cruise lines around the world. Disney is one of the biggest and most well-known companies in the world and has been ranked number 53 on the 2022 ''
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by '' Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...
'' list of biggest companies in the United States by revenue. Since its founding, the company has won a total of 135
Academy Awards The Academy Awards, better known as the Oscars, are awards for artistic and technical merit for the American and international film industry. The awards are regarded by many as the most prestigious, significant awards in the entertainment ind ...
, with 26 awarded to Walt. The company has also been said to have produced some of the greatest films of all time as well as revolutionizing the theme park industry. Disney has been criticized for alleged plagiarism, depicting racial stereotypes in the past, and both including and lacking
LGBT ' is an initialism that stands for lesbian, gay, bisexual, and transgender. In use since the 1990s, the initialism, as well as some of its common variants, functions as an umbrella term for sexuality and gender identity. The LGBT term i ...
-related elements in its films. The company, which has been public since 1940, trades on the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...
(NYSE) with ticker symbol DIS and has been a component of the
Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexe ...
since 1991. In August 2020, just under two-thirds of the stock was owned by large financial institutions.


History


1923–1934: Founding, Mickey Mouse, and ''Silly Symphonies''

At Laugh-O-Gram Studio, a film studio in Kansas City founded by
Walt Disney Walter Elias Disney (; December 5, 1901December 15, 1966) was an American animator, film producer and entrepreneur. A pioneer of the American animation industry, he introduced several developments in the production of cartoons. As a film p ...
and his friend and animator Ub Iwerks, Walt made a short film entitled '' Alice's Wonderland.'' It featured child actress Virginia Davis interacting with animated characters. In 1923, soon after the short was made, Laugh-O-Gram Studio went bankrupt, but the short later became a hit after New York film distributor Margaret J. Winkler purchased it. Walt signed a contract to create six ''
Alice Comedies The ''Alice Comedies'' are a series of animated/live-action shorts created by Walt Disney Walter Elias Disney (; December 5, 1901December 15, 1966) was an American animator, film producer and entrepreneur. A pioneer of the American ani ...
'' series, with an option for two further series of six episodes each. Before the signing, Walt decided to move to Hollywood to join his brother Roy O. Disney because Roy had
tuberculosis Tuberculosis (TB) is an infectious disease usually caused by ''Mycobacterium tuberculosis'' (MTB) bacteria. Tuberculosis generally affects the lungs, but it can also affect other parts of the body. Most infections show no symptoms, in w ...
. This allowed them to co-found the Disney Brothers Studio on October 16, the official start of the company, to produce the films. Walt later convinced Iwerks and Davis' family to move to Hollywood as well. In January 1926, the Disney studio on Hyperion Street was completed, and The Disney Brothers Studio's name was changed to Walt Disney Studio. After producing several Alice films for the next four years, Winkler handed the role of distributing films to her husband, Charles Mintz. In 1927, Mintz asked for a new series of films under
Universal Pictures Universal Pictures (legally Universal City Studios LLC, also known as Universal Studios, or simply Universal; common metonym: Uni, and formerly named Universal Film Manufacturing Company and Universal-International Pictures Inc.) is an Americ ...
to be made. In response, Walt created his first series of fully animated films, featuring the character
Oswald the Lucky Rabbit Oswald the Lucky Rabbit (also known as Oswald the Rabbit or Oswald Rabbit) is a cartoon character created in 1927 by Walt Disney and Ub Iwerks for Universal Pictures. He starred in several animated short films released to theaters from 1927 to ...
. Walt Disney Studio would create 26 films with Oswald in them. In 1928, Walt wanted a larger fee for his films, but Mintz wanted to reduce the price. Soon after Walt found out that Universal owned the
intellectual property rights Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, cop ...
to Oswald, Mintz threatened to produce the films without him if he did not take the reductions in payment. Walt declined, and Mintz signed four of the Walt Disney Studio's primary animators to start his own studio; Iwerks would be the only top animator to stay with the Studio. Because of the loss of Oswald, Walt and Iwerks replaced him with a mouse originally named Mortimer Mouse. The character's name would be changed after Walt's wife urged him to change it to Mickey Mouse, who is now the company's mascot. In May, the studio made two
silent film A silent film is a film with no synchronized Sound recording and reproduction, recorded sound (or more generally, no audible dialogue). Though silent films convey narrative and emotion visually, various plot elements (such as a setting or era) ...
s, '' Plane Crazy'' and '' The Gallopin' Gaucho'', with the character as test screenings. Later, the studio created its first sound film and third short to the Mickey series '' Steamboat Willie.'' It was made with synchronized sound, creating the first post-produced sound cartoon. Pat Powers’ distribution company would distribute the film, and ''Steamboat Willie'' became an immediate hit, leading the way for the companies dominance in the animation industry. The sound was created using Powers’ Cinephone system, which used
Lee de Forest Lee de Forest (August 26, 1873 – June 30, 1961) was an American inventor and a fundamentally important early pioneer in electronics. He invented the first electronic device for controlling current flow; the three-element " Audion" triode ...
's Phonofilm system. The company successfully re-released the two earlier films with synchronized sound in 1929. After the release of ''Steamboat Willie'' at the Colony Theater in New York, Mickey Mouse became an immensely popular character. Disney would go on to make several cartoons featuring him and other characters. In August, Disney began the '' Silly Symphony'' series with
Columbia Pictures Columbia Pictures Industries, Inc. is an American film production studio that is a member of the Sony Pictures Motion Picture Group, a division of Sony Pictures Entertainment, which is one of the Big Five studios and a subsidiary of the multi ...
signing on as the series' distributor, because Walt and Roy felt that they were not getting their share of the profits with Powers. Powers would then sign off Iwerks, who would later start his own studio. Carl Starling was said to have played a pivotal role in getting the series started and composed the music for the earlier films in the series, but would later leave the company after Iwerks did. In September, theater manager Harry Woodin requested permission to start a Mickey Mouse Club at his theater, the Fox Dome, to boost attendance. Walt agreed, but David E. Dow started the first ever club at Elsinore Theatre before Woodin could start his. It is unknown why Woodin did not create the first one, but on December 21, the first ever meeting for the club at Elsinore had around 1,200 children in attendance. The Mickey Mouse Clubs ended up spanning over 800 theaters across the country, with one million kids as members. On July 24, Joseph Conley, president of
King Features Syndicate King Features Syndicate, Inc. is a American content distribution and animation studio, consumer product licensing and print syndication company owned by Hearst Communications that distributes about 150 comic strips, newspaper columns, editoria ...
, mailed the Disney studio asking for them to make a Mickey Mouse comic strip. They started in November and sent samples of the strip to them, which were approved. On December 16, the Walt Disney Studios partnership was reorganized as a corporation with the name of Walt Disney Productions, Limited, with a merchandising division –
Walt Disney Enterprises Disney Consumer Products, Inc. is the retailing and licensing subsidiary of the Disney Parks, Experiences and Products segment of The Walt Disney Company. Previously, Consumer Products was a segment of Disney until 2016, then a unit of Disney Con ...
, and two subsidiaries – Disney Film Recording Company, Limited; and Liled Realty and Investment Company, for real estate holdings. Walt and his wife held 60 percent (6,000 shares) of the company and Roy owned 40 percent. The comic strip '' Mickey Mouse'' debuted on January 13, 1930, in the '' New York Daily Mirror'' and by 1931, the strip was published in 60 newspapers in the U.S., as well as papers in twenty other countries. After finding out that coming out with
merchandise Merchandising is any practice which contributes to the sale of products to a retail consumer. At a retail in-store level, merchandising refers to displaying products that are for sale in a creative way that entices customers to purchase more ...
for the characters would generate more revenue for the company, Walt met a man at a hotel in New York who asked him for the license to put Mickey Mouse on some writing tablets that he was manufacturing for $300. Walt agreed and Mickey became the first licensed character ever, beginning the start of Disney merchandising. In 1933, Walt asked a man who owned a Kansas City advertising firm named
Kay Kamen Herman "Kay" Kamen (born Herman Samuel Kominetzky; January 27, 1892 – October 28, 1949) was an American merchandising executive, noted primarily for his work with the Walt Disney Company. He promoted Mickey Mouse – the most popular cartoon cha ...
to run Disney's merchandising. He agreed and was considered to completely transform Disney's merchandising. Within a year, Kamen had 40 licenses for Mickey and within two years, $35 million worth of sales were made. In 1934, Walt claimed that he made more money from the merchandising of Mickey than from the Mickey films. Later, as a part of Disney's merchandising push, the Waterbury Clock Company created a Mickey Mouse watch. It became so popular that it saved Waterbury from bankruptcy during the Great Depression. During a promotional event at Macy's, 11,000 Mickey Mouse watches sold in one day and within two years, 2.5 million watches were sold. As Mickey started to become more of the heroic type instead of a mischievous mouse, Disney needed another character that could produce
gags A gag is usually an item or device designed to prevent speech, often as a restraint device to stop the subject from calling for help and keep its wearer silent. This is usually done by blocking the mouth, partially or completely, or attempting ...
. When Walt was listing to the radio, he heard the voice of Clarence Nash and invited him to the studio. After hearing his voice again, Walt wanted to use it for a talking duck named
Donald Duck Donald Fauntleroy Duck is a cartoon character created by The Walt Disney Company. Donald is an Anthropomorphism, anthropomorphic American Pekin, white duck with a yellow-orange bill, legs, and feet. He typically wears a sailor suit, sailor shi ...
, who would be the studio's new gag character. Donald made his first appearance in 1934 in '' The Wise Little Hen.'' Though he did not become popular as fast as Mickey did, he got his own featured role in '' Donald and Pluto'' (1936) and eventually got his own series. After a fallout with Colombia Pictures for the ''Silly Symphonies'', Walt signed a distribution contract with United Artist from 1932 to 1937 to distribute the series. In 1932, Disney signed an exclusive contract with
Technicolor Technicolor is a series of color motion picture processes, the first version dating back to 1916, and followed by improved versions over several decades. Definitive Technicolor movies using three black and white films running through a special ...
through the end of 1935 to produce cartoons in color, beginning with '' Flowers and Trees'' (1932), which was part of the ''Silly Symphonies''. The film was the first ever full-color cartoon and won the
Academy Award The Academy Awards, better known as the Oscars, are awards for artistic and technical merit for the American and international film industry. The awards are regarded by many as the most prestigious, significant awards in the entertainment in ...
for the Best Cartoon later that year. In 1933, '' The Three Little Pigs'' became another popular ''Silly Symphonies'' and also won the Academy Award for Best Cartoon. The song from the film " Who's Afraid of the Big Bad Wolf?", composed by Frank Churchill, who also wrote other ''Silly Symphonies'' songs, became popular throughout the 1930s and remained one of the most well-known Disney songs. Films from ''Silly Symphonies'' would go on to win the Best Cartoon award from 1931 to 1939, except for in 1938 when another Disney film ''
Ferdinand the Bull Ferdinand is a Germanic name composed of the elements "protection", "peace" (PIE "to love, to make peace") or alternatively "journey, travel", Proto-Germanic , abstract noun from root "to fare, travel" (PIE , "to lead, pass over"), and "co ...
'' won it.


1934–1949: The Golden Age of Animation, strike, and World War II

In 1934, Walt decided to make Disney's first ever feature-length animated film, '' Snow White and the Seven Dwarfs,'' and told his animators by acting out the story. Roy tried to stop Walt from making it saying it would bankrupt the studio, and Hollywood called it "Disney's Folly", but Walt continued production on the film. Walt decided to go for a realistic approach to the film and created scenes from the film as if it were live action. During the process of making the film, they created the
multiplane camera The multiplane camera is a motion-picture camera that was used in the traditional animation process that moves a number of pieces of artwork past the camera at various speeds and at various distances from one another. This creates a sense of pa ...
, which was pieces of glass with drawings on them set at different distances, to create an illusion of depth for the backgrounds. After United Artist attempted to attain future television rights to the Disney shorts, Walt signed a distribution contract with
RKO Radio Pictures RKO Radio Pictures Inc., commonly known as RKO Pictures or simply RKO, was an American film production and distribution company, one of the "Big Five" film studios of Hollywood's Golden Age. The business was formed after the Keith-Albee-Orph ...
on March 2, 1936. They ended up exceeding their original budget for ''Snow White'' of $150,000 by ten times the amount at $1.5 million. It took them three years to make, debuting on December 12, 1937. It became the highest-grossing film of all time up to that point at $8 million ; after several re-releases, the film would gross a total of $998,440,000 in the U.S. adjusted for inflation. After the profits of ''Snow White and the Seven Dwarfs'', Disney financed the construction of a new studio complex of 51 acres (20.6 ha) in
Burbank Burbank may refer to: Places Australia * Burbank, Queensland, a suburb in Brisbane United States * Burbank, California, a city in Los Angeles County * Burbank, Santa Clara County, California, a census-designated place * Burbank, Illinois, ...
, California, which the company fully moved into in 1940. On April 2 of the same year, Disney had its
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
, with the common stock remaining with Walt and his family. Walt did not want to go public, but the company needed the money. Shortly before ''Snow White and the Seven Dwarfs release, work on their next films '' Pinocchio'' and ''
Bambi ''Bambi'' is a 1942 American animated drama film directed by David Hand (supervising a team of sequence directors), produced by Walt Disney and based on the 1923 book '' Bambi, a Life in the Woods'' by Austrian author and hunter Felix Sal ...
'' began, with Bambi being postponed. Though ''Pinocchio'' would win the Academy Awards for Best Song and Best Score, along with being said to have made groundbreaking achievements in animation, it would end up doing poorly in the box office during its release on February 23, 1940, because its international releases were cut off due to
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the World War II by country, vast majority of the world's countries—including all of the great power ...
. Disney's next film '' Fantasia'' was also a
box-office bomb A box-office bomb, or box-office disaster, is a film that is unprofitable or considered highly unsuccessful during its theatrical run. Although any film for which the production, marketing, and distribution costs combined exceed the revenue after ...
, but made great achievements by creating Fantasound, an early development surround sound, to produce the films' soundtrack, making it the first commercial film shown in stereo. In 1941, Disney would have a major setback when 300 of its 800 animators, led mainly by one of the companies top animators
Art Babbit Arthur Harold Babitsky (October 8, 1907 – March 4, 1992), better known as Art Babbitt, was an American animator, best known for his work at Walt Disney Animation Studios. He received over 80 awards as an animation director and animator, and ...
, would go on strike for five weeks for unionization, because of the amount of payment some of them were getting. Walt thought that the people on strike were secretly Communist and would end up firing many of the studios' animators, including some of its best ones. Roy would try to get the company's main distributors to invest in the film company, trying to secure more production funds for the studio which could no longer afford to offset production costs with employee layoffs, but was unsuccessful in getting anyone. During the premiere of '' The Reluctant Dragon,'' Disney's fourth film where Robert Benchley would tour the Disney Studio, protesters from the strike showed up; the film would fall $100,000 short of its production cost. While negotiations were being made for the strike, Walt accepted an offer from the Office of the Coordinator of Inter-American Affairs to make a goodwill trip, along with some of his animators, to South America, making sure Walt would be gone during the deal because he knew the results would not be in his favor. During the twelve weeks there, they would start plotting for films and were inspired by the music. As a result of the strike, the studio recognized the Screen Cartoonist's Guild after being compelled to by Federal mediators and loss several animators, leaving the company with only 694 employees. To recover from their financial losses, Disney would create their fifth animated film, '' Dumbo,'' in a rush with a lower budget. ''Dumbo'' performed successfully at the box office and would be a much needed financial gain for the company. After the bombing of Pearl Harbor, many of the companies animators would be drafted into the army. Later, 500 soldiers from the
United States Army The United States Army (USA) is the land warfare, land military branch, service branch of the United States Armed Forces. It is one of the eight Uniformed services of the United States, U.S. uniformed services, and is designated as the Army o ...
began to occupy the studio for eight months to protect a nearby Lockheed aircraft plant. While they were there, they would fix equipment in large soundstages and convert storage sheds into ammunition depots. On December 8, the Navy asked Walt to create propaganda films to gain support for the war. He agreed and signed a contract with
them Them or THEM, a third-person plural accusative personal pronoun, may refer to: Books * ''Them'' (novel), 3rd volume (1969) in American Joyce Carol Oates' ''Wonderland Quartet'' * '' Them: Adventures with Extremists'', 2003 non-fiction by Wels ...
to create 20 war-related shorts for $90,000. Most of the company's employees got to work on the project and created films such as '' Victory Through Air Power'' and included some of the company's characters in several of the films. In August, 1942, ''Bambi'' was finally released as Disney's sixth animated film and did not do well in the box office. In 1943, Disney would go on to make '' Saludos Amigos'' and '' The Three Caballeros'' after their visit to South America, but they would do poorly upon their releases. The two films were " package films", several short cartoons grouped together to make a feature film, which Disney would go on to make more of such as '' Make Mine Music'' (1946)'', Fun and Fancy Free'' (1947)'','' '' Melody Time'' (1948)'','' and ''
The Adventures of Ichabod and Mr. Toad ''The Adventures of Ichabod and Mr. Toad'' is a 1949 American animated anthology film produced by Walt Disney Productions, released by RKO Radio Pictures and directed by Clyde Geronimi, Jack Kinney and James Algar with Ben Sharpsteen as production ...
'' (1949) to try to recover from their financial losses. As less expensive to make, the studio started production on live-action films, with a mixture of animation, starting with '' Song of the South,'' which would later become Disney's most controversial film. Because the company was short on money, in 1944, they planned to re-release their feature films, which would create much needed revenue. In 1948, Disney began the nature documentary series, '' True-Life Adventures,'' which would run until 1960 and win eight Academy Awards. In 1949, while production on the animated film ''
Cinderella "Cinderella",; french: link=no, Cendrillon; german: link=no, Aschenputtel) or "The Little Glass Slipper", is a folk tale with thousands of variants throughout the world.Dundes, Alan. Cinderella, a Casebook. Madison, Wis: University of Wisconsi ...
'' was happening, the Walt Disney Music Company was founded in order to help with profits for merchandising, which the music from ''Cinderella'' was hoped to be a hit.


1950–1967: Live-action films, television, Disneyland, and Walt Disney's death

In 1950, Disney's first animated film in eight years ''Cinderella'' was released and was considered a return to form for Disney. It would be Disney's best box office success since ''Snow White,'' making a total of $8 million in its first year in the box office and costing $2.2 million to make. Walt had not been as involved as he was with the previous films because he was distracted with trains and made a trip to England to create Disney's first ever fully live-action film ''
Treasure Island ''Treasure Island'' (originally titled ''The Sea Cook: A Story for Boys''Hammond, J. R. 1984. "Treasure Island." In ''A Robert Louis Stevenson Companion'', Palgrave Macmillan Literary Companions. London: Palgrave Macmillan. .) is an adventure n ...
''. Because it was a success, he went back to England to produce '' The Story of Robin Hood and His Merry Men''. In 1950, the television industry began to grow, and Disney got in it on Christmas Day when NBC aired the company's first television production One Hour in Wonderland, which was a promotional program for Disney's next animated film '' Alice in Wonderland'' and sponsored by
Coca-Cola Coca-Cola, or Coke, is a carbonated soft drink manufactured by the Coca-Cola Company. Originally marketed as a temperance drink and intended as a patent medicine, it was invented in the late 19th century by John Stith Pemberton in Atla ...
. During his trip in England, ''Alice in Wonderland'' was released and came as disappointment to the company falling $1 million short of the production budget. Upon his return, Walt started thinking about an
amusement park An amusement park is a park that features various attractions, such as rides and games, as well as other events for entertainment purposes. A theme park is a type of amusement park that bases its structures and attractions around a central ...
he wanted to build called Mickey Mouse Park, an eight-acre (3.2 ha) piece of land near the studio with attractions such as a steamboat ride, but business kept getting in the way and production for a third British film ''
The Sword and the Rose ''The Sword and the Rose'' is a family/adventure film produced by Perce Pearce and Walt Disney and directed by Ken Annakin. The film features the story of Mary Tudor, a younger sister of Henry VIII of England. Based on the 1898 novel '' Whe ...
'' began. Walt would only supervise over it, but it would be financed by a new subsidiary of Disney called Walt Disney British Films Limited. Walt recalled that he first came up with the idea of an amusement park during one of his visits to
Griffith Park Griffith Park is a large municipal park at the eastern end of the Santa Monica Mountains, in the Los Feliz neighborhood of Los Angeles, California. The park includes popular attractions such as the Los Angeles Zoo, the Autry Museum of the A ...
with his daughters. He said that he watched them ride the carousel there and said that he thought there "should be... some kind of amusement enterprise built where the parents and the children could have fun together.” As Walt continued to think about Mickey Mouse Park, he changed the name to Disneylandia before changing it to its final name
Disneyland Disneyland is a theme park in Anaheim, California. Opened in 1955, it was the first theme park opened by The Walt Disney Company and the only one designed and constructed under the direct supervision of Walt Disney. Disney initially envisi ...
. Because Roy was doubtful about the park, Walt would form a new privately owned company called Walt Disney Enterprise on December 16, 1952, to fund the park. Shortly after, its name would change to Walt Disney Incorporated before changing its name to WED Enterprises (now
Walt Disney Imagineering Walt Disney Imagineering Research & Development, Inc., commonly referred to as Imagineering, is the research and development arm of The Walt Disney Company, responsible for the creation, design, and construction of Disney theme parks and attr ...
) in November 1953. He hired a group of designers to work on the plans and those who worked on it became dubbed as " Imagineers". Ever since Walt came up with the idea of a park, he and his friends would visit parks in the U.S. and Europe to get ideas on how to build one. His plan to have the park built in Burbank near the studio quickly changed when he realized that 8 (3.2 ha) acres would not be enough land. He acquired 160 acres (65 ha) of orange groves in
Anaheim Anaheim ( ) is a city in northern Orange County, California, part of the Los Angeles metropolitan area. As of the 2020 United States Census, the city had a population of 346,824, making it the most populous city in Orange County, the 10th-mos ...
, southeast of Los Angeles in neighboring Orange County, at $6,200 per acre to build the park. As construction on the park began on July 12, 1954, Walt wanted it to be done by 1955, with storytelling attractions and areas, as well as being clean and perfect. They designed the park to have guests enter into Main Street U.S.A., themed to resemble American small towns during the early 20th Century based largely off of Walt's hometown in Marceline, Missouri, and walk down the street into the central hub, from which different themed lands branched out. At the end of the street in the central hub, would be a 77 ft (23 m) tall Sleeping Beauty Castle inspired by the Neuschwanstein Castle in Germany and based on the castle from the Disney film of the same name, which would be released four years later. The four original different themed lands of the park that branched out from the hub would consist of Frontierland, themed to the American Frontier of the 19th century; Adventureland, resembling a wild tropical jungle; Fantasyland, based on Disney's animated fairy tale films; and Tomorrowland, depicting views of the future, especially that of the
Space Age The Space Age is a period encompassing the activities related to the Space Race, space exploration, space technology, and the cultural developments influenced by these events, beginning with the launch of Sputnik 1 during 1957, and continuing ...
. In total, by the time the park opened, it cost the company $17 million to construct. In February 1953, Disney's next animated film '' Peter Pan'' was released and had been a success, but Walt wanted to figure out how to improve animation without raising the cost. When Disney wanted to create a feature with two short films, '' The Living Desert'', for the ''True-Life'' documentary, RKO's lawyer believed it would break the 1948 antitrust Supreme Court ruling if it sold as a package. Roy thought the company would do fine without RKO and the company created its own distribution company,
Buena Vista Distribution Walt Disney Studios Motion Pictures, formerly known as Buena Vista Pictures Distribution, Inc. until 2007, is an American film distribution studio within the Disney Media and Entertainment Distribution division of The Walt Disney Company. It h ...
, named after the street where the studio was located, to distribute their own films from then on. In 1954, Disney's first American live action film '' 20,000 Leagues Under the Sea'' was released, which was one of the first films to use CinemaScope. From the early to mid-1950s, Walt began to devote less attention to the animation department, entrusting most of its operations to his key animators the Nine Old Men, although he was always present at story meetings. Instead, he started concentrating on other things such as television and Disneyland. To get money to create the park, the company decided to promote it through a television series. After trying to get NBC and CBS to sign on, in 1954, ABC made a deal with Disney for an hour-long weekly series starting in October called ''
Disneyland Disneyland is a theme park in Anaheim, California. Opened in 1955, it was the first theme park opened by The Walt Disney Company and the only one designed and constructed under the direct supervision of Walt Disney. Disney initially envisi ...
,'' an
anthology series An anthology series is a radio, television, video game or film series that spans different genres and presents a different story and a different set of characters in each different episode, season, segment, or short. These usually have a di ...
consisting of animated cartoons, live-action features, other materials from the studio's library, and would go through four segments of the four different areas of the amusement park. The series was a success and garnered over 50% of viewers in their time slot, along with increasing audiences and praise from critics. In August, Walt formed another company Disneyland, Inc. to finance the theme park, with Disney, himself, Western Publishing, which had been the publisher of Disney books for over twenty years, and ABC all holding stock in the company. In October, with the success of ''Disneyland,'' ABC allowed Disney to produce another series '' The Mickey Mouse Club'', a
variety show Variety show, also known as variety arts or variety entertainment, is entertainment made up of a variety of acts including musical performances, sketch comedy, magic, acrobatics, juggling, and ventriloquism. It is normally introduced by a com ...
specifically for kids, showing things such as a daily Disney cartoon, a children's newsreel, and a talent show. It would consist of a host and talented kids and adults called "Mousketeers" and "Mooseketeers", respectively. After the first season, over 10 million children and half as many adults watched it every day, 2 million Mickey Mouse ears, which the cast wore, had sold, and the shows theme song " Mickey Mouse March", written by Jimmie Dodd one of the show's main host, had become a classic. On December 15, 1954, ''Disneyland'' aired an episode of the five-part miniseries '' Davy Crockett,'' which starred
Fess Parker Fess Elisha Parker Jr. (born F. E. Parker Jr.;Weaver, Tom.Sci-Fi Swarm and Horror Horde: Interviews with 62 Filmmakers p. 148 (McFarland 2012). August 16, 1924 – March 18, 2010),(March 18, 2010Daniel Boone Actor Fess Parker Dies at 85" ''CBS ...
as Crockett. According to writer Neal Gabler, " tbecame an overnight national sensation", selling 10 million Crockett coonskin caps. The shows theme song " The Ballad of Davy Crockett" had spread throughout American pop culture as much as the ''Three Little Pig's "''Who's Afraid of the Big Bad Wolf''"'' did, selling 10 million records''.'' The ''
Los Angeles Times The ''Los Angeles Times'' (abbreviated as ''LA Times'') is a daily newspaper that started publishing in Los Angeles in 1881. Based in the LA-adjacent suburb of El Segundo since 2018, it is the sixth-largest newspaper by circulation in the ...
'' called it "the greatest merchandising fad the world had ever seen". In June 1955, Disney's 15th animated film, '' Lady and the Tramp,'' was released and did better in the box office than any other Disney films since ''Snow White''. On Sunday, July 17, 1955, Disneyland opened with only Main Street completely done and the other lands offering some rides, coming to a total of 20
attractions Tourism is travel for pleasure or business; also the theory and practice of touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tours. The World Tourism Organization defines tourism mo ...
. At the time, it cost $1 to get into the park and guests had to pay for each individual ride. They were ready for 11,000 guests, but around 28,000 people showed up, because of a rush of counterfeit tickets. The opening was aired on ABC with actors Art Linkletter, Bob Cummings, and Ronald Reagan, who were all friends of Walt, hosting it. It garnered over 90 million viewers, becoming the largest live broadcast to that date. The opening was so disastrous and rushed, it became dubbed as "Black Sunday" by the employees. Restaurants ran out of food, the Mark Twain Riverboat began to sink a little, several ride malfunctions occurred, and the drinking fountains were not working in the 100 °F. (38 °C) heat. Within its first week of being open, Disneyland had 161,657 guests show up, and by its first month of being open, the park had over 20,000 visitors each day. After its first year, 3.6 million people had visited the park, and after its second year 4 million more guests came, making it more popular than places such as the
Grand Canyon The Grand Canyon (, yuf-x-yav, Wi:kaʼi:la, , Southern Paiute language: Paxa’uipi, ) is a steep-sided canyon carved by the Colorado River in Arizona, United States. The Grand Canyon is long, up to wide and attains a depth of over a ...
and Yellowstone Park. That year Disney had a gross total of $24.5 million compared to the $11 million the previous year. Though Walt was more busy with the park than the films, the company would stay busy and produce an average of five releases per year throughout the 1950s and 60s. The animated films created were features such as ''Sleeping Beauty'' (1959), '' One Hundred and One Dalmatians'' (1961), and '' The Sword in the Stone'' (1963). While ''Sleeping Beauty'' was a financial loss for the company, and Disney's highest production costs for a film up to that point at $6 million, ''One Hundred and One Dalmatians'' introduced a new way of animating using the
xerography Xerography is a dry photocopying technique. Originally called electrophotography, it was renamed xerography—from the roots el, ξηρός, label=none ''xeros'', meaning "dry" and -γραφία ''-graphia'', meaning "writing"—to emphasi ...
process to electromagnetically transfer the drawings to animation cels. In 1956, the
Sherman brothers The Sherman Brothers were an American songwriting duo that specialized in musical films, made up of Robert B. Sherman (December 19, 1925 – March 6, 2012) and Richard M. Sherman (born June 12, 1928). Together they received various accolades inc ...
,
Robert The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' ( non, Hróðr) "fame, glory, h ...
and
Richard Richard is a male given name. It originates, via Old French, from Old Frankish and is a compound of the words descending from Proto-Germanic ''*rīk-'' 'ruler, leader, king' and ''*hardu-'' 'strong, brave, hardy', and it therefore means 'stro ...
, were asked to create the theme song for the television series ''
Zorro Zorro ( Spanish for 'fox') is a fictional character created in 1919 by American pulp writer Johnston McCulley, appearing in works set in the Pueblo of Los Angeles in Alta California. He is typically portrayed as a dashing masked vigilant ...
''. Disney would later hire them as exclusive staff songwriters, which would be a ten-year association. They wrote many of the songs for Disney's films at the time and some for the theme parks, with several of them being hits. In the late 1950s, Disney would venture into the
comedy Comedy is a genre of fiction that consists of discourses or works intended to be humorous or amusing by inducing laughter, especially in theatre, film, stand-up comedy, television, radio, books, or any other entertainment medium. The term ori ...
genre with the live-action films '' The Shaggy Dog'' (1959), which became the highest grossing film in the U.S. and Canada for Disney at over $9 million, and ''The Absent Minded Professor'' (1961), both starring Fred MacMurray. Disney also made several live-action films based on children's books including '' Pollyanna'' (1960) and '' Swiss Family Robinson'' (1960). Child actor Hayley Mills would star in ''Pollyanna'', where she would win the Academy Juvenile Award, and five other Disney films, including her dual role as the twins in ''The Parent Trap'' (1961). Another child actor
Kevin Corcoran Kevin Anthony "Moochie" Corcoran (June 10, 1949 – October 6, 2015) was an American child actor, director and producer. He appeared in numerous Disney projects between 1957 and 1963, leading him to be honored as a Disney Legend in 2006. Hi ...
was a prominent figure in many of the live-action Disney films, first appearing in a serial for ''The Mickey Mouse Club,'' where he would play a boy named Moochie, a nickname that would stay with him. He worked alongside Mills in ''Pollyanna'' and starred in features such as '' Old Yeller'' (1957), '' Toby Tyler'' (1960), and ''Swiss Family Robinson''. In 1964, the live action/animation
musical Musical is the adjective of music Music is generally defined as the The arts, art of arranging sound to create some combination of Musical form, form, harmony, melody, rhythm or otherwise Musical expression, expressive content. Exact def ...
'' Mary Poppins'' was released and became the highest grossing film of the year. It won five Academy Awards, including Best Actress for Julie Andrews as Poppins and Best Song for the Sherman Brothers', who also won Best Score for the film, " Chim Chim Cher-ee". Throughout the 1960s, Dean Jones, who was called "the figure who most represented Walt Disney Productions in the 1960s" by ''
The Guardian ''The Guardian'' is a British daily newspaper A newspaper is a periodical publication containing written information about current events and is often typed in black ink with a white or gray background. Newspapers can cover a wide ...
'', starred in ten Disney films, which included '' That Darn Cat!'' (1965), '' The Ugly Dachshund'' (1966), and '' The Love Bug'' (1968) and its second sequel Herbie Goes to Monte Carlo (1977). Disney's last child actor of the 1960s would be Kurt Russell, who had signed a ten-year contract with the company. He featured in films such as '' The Computer Wore Tennis Shoes'' (1969), '' The Horse in the Gray Flannel Suit'' (1968) alongside Dean Jones, ''
The Barefoot Executive ''The Barefoot Executive'' (also known as ''The Rating Game'') is a 1971 American comedy film starring Kurt Russell, Joe Flynn, Wally Cox, Heather North, Harry Morgan, and John Ritter (in his film debut), about a pet chimpanzee, named Raffles, wh ...
'' (1971), and '' The Strongest Man in the World'' (1975). In late 1959, Walt had an idea to build another park in
Palm Beach, Florida Palm Beach is an incorporated town in Palm Beach County, Florida. Located on a barrier island in east-central Palm Beach County, the town is separated from several nearby cities including West Palm Beach and Lake Worth Beach by the Intraco ...
, called the City of Tomorrow, a city that would be full of technological improvements. In 1964, the company chose land southwest of Orlando, Florida, as the area to build the park and quickly acquired 27,000 acres (10,927 ha) of land for it. On November 15, 1965, Walt, along with Roy and Florida's current governor at the time Haydon Burns, announced the plans for another park called Disney World, which included the
Magic Kingdom Magic Kingdom Park, previously known as Walt Disney World Magic Kingdom (1971–1994) and The Magic Kingdom (1994–2017), is a theme park at the Walt Disney World Resort in Bay Lake, Florida, near Orlando, Florida. Owned and operated by The ...
—‌a larger and more elaborate version of Disneyland‍, with golf courses and resort hotels near it—‌and the City of Tomorrow, which would be at the heart of the park. By 1967, the company had made several expansions to Disneyland including a new area called New Orleans Square, which would be filled with mostly shops and would be based on the look of
New Orleans, Louisiana New Orleans ( , ,New Orleans
It's a Small World, the Disneyland Railroad, and Pirates of the Caribbean. In all, the expansion costed $20 million, which was $3 million more than it cost to make the park. They also added several other rides before then such as Walt Disney's Enchanted Tiki Room, which was the first attraction to use audio-animatronics; Walt Disney's Carousel of Progress, which debuted at the 1964 New York World's Fair before moving to Disneyland in 1967; and Dumbo the Flying Elephant, which opened a month after the park did. On November 20, 1964, Walt sold most of WED Enterprise to Walt Disney Productions for $3.75 million after being persuaded to by Roy, who thought that Walt having his own company would cause legal problems. Walt formed a new company called Retlaw to handle his personnel business, primarily the Disneyland Railroad and the Disneyland Monorail. When the company started looking for someone to sponsor the project, Walt renamed the City of Tomorrow to
EPCOT Epcot, stylized in all uppercase as EPCOT, is a theme park at the Walt Disney World Resort in Bay Lake, Florida. It is owned and operated by The Walt Disney Company through its Parks, Experiences and Products division. Inspired by an unr ...
, which stood for Experimental Prototype Community of Tomorrow. Because Walt had been a heavy smoker since World War I, his health started declining, and he visited the St. Joseph Hospital on November 2, 1966, for testing. The doctors discovered a walnut-sized spot on his left lung and removed it a few days later, finding out it was cancerous. After two weeks, he was released from the hospital, but overgrown lymph nodes showed that he did not have much longer to live. On December 15, 1966, at the age of 65, Walt died of circulatory collapse, caused by lung cancer.


1967–1984: Roy O. Disney's leadership and death, Walt Disney World, animation industry decline, and Touchstone Pictures

In 1967, the last two films Walt had worked on were released, the animated film ''The Jungle Book'', which would be Disney's most successful film for the next two decades, and the live-action musical '' The Happiest Millionaire''. After Walt's death, the company largely abandoned the animation industry, but would still make several live-action films. Its staff in the field of animation began to decline from 500 workers to 125 employees, with the company only hiring 21 people from 1970 to 1977. Disney's first post-Walt animated film ''
The Aristocats ''The Aristocats'' is a 1970 American animated romantic musical comedy film produced by Walt Disney Productions and directed by Wolfgang Reitherman. The 20th Disney animated feature film, the film is based on a story by Tom McGowan and Tom R ...
'' was released in 1970, where Dave Kehr of ''
Chicago Tribune The ''Chicago Tribune'' is a daily newspaper based in Chicago, Illinois, United States, owned by Tribune Publishing. Founded in 1847, and formerly self-styled as the "World's Greatest Newspaper" (a slogan for which WGN radio and television a ...
'' said, "the absence of his alt'shand is evident." That following year the anti-fascist musical '' Bedknobs and Broomsticks'' was released and won the Oscar for Best Special Visual Effects. By the time Walt had died, Roy was ready to retire, but wanted to keep Walt's legacy alive and became the first CEO and chairman of the board of the company. In May 1967, he got a legislation passed by Florida's legislatures to grant Disney World to have its own quasi-government agency in an area called the
Reedy Creek Improvement District The Reedy Creek Improvement District (RCID) is the governing jurisdiction and special taxing district for the land of Walt Disney World Resort. It includes within the outer limits of Orange and Osceola counties in Florida. It acts with the sam ...
, and he later changed the name from Disney World to Walt Disney World to remind people it was Walt's dream. Over time, EPCOT became less of the City of Tomorrow and developed more into another amusement park. After 18 months of construction that cost around $400 million, Walt Disney World's first park the Magic Kingdom, along with Disney's Contemporary Resort and Disney's Polynesian Resort, opened on October 1, 1971, with 10,400 visitors. A parade with over 1,000 band members, along with 4,000 Disney entertainers and choir from the U.S. Army, marched down Main Street led by composer Meredith Wilson. Unlike Disneyland, the icon of the park would be the Cinderella Castle instead of the Sleeping Beauty Castle. Three months later on Thanksgiving day, cars wanting to get into the Magic Kingdom were stretched miles along the interstate. On December 21, 1971, Roy died of
cerebral hemorrhage Intracerebral hemorrhage (ICH), also known as cerebral bleed, intraparenchymal bleed, and hemorrhagic stroke, or haemorrhagic stroke, is a sudden bleeding into the tissues of the brain, into its ventricles, or into both. It is one kind of bleed ...
at the St. Joseph Hospital. After Roy's death, Donn Tatum, who was a senior executive for 25 years and former president of Disney, became the first non-Disney family member to become CEO and chairman of the board of the company, with Card Walker, who had been with the company since 1938, becoming president of the company. By June 30, 1973, Disney had over 23,000 employees and had a gross total of $257,751,000 over a nine months period, which is a raise compared to the year before when they made $220,026,000. In November, Disney released another animated film ''Robin Hood'', which became Disney's biggest international grossing movie at $18 million. Throughout the 1970s, Disney released several more live-action films such as ''The Computer Wore Tennis Shoes'' sequel '' Now You See Him, Now You Don't,'' ''The Love Bug's'' two sequels '' Herbie Rides Again'' (1974) and ''Herbie Goes to Monte Carlo'' (1977)'','' '' Escape to Witch Mountain'' (1975), and '' Freaky Friday'' (1976). In 1976, Card Walker took over as CEO of the company, with Tatum staying as the chairman until 1980 when Walker would replace him. In 1977, Roy E. Disney, Roy O. Disney's son and the only Disney working for the company, would resign from his job as an executive of the company because of disagreements with decisions the company was making. In 1977, Disney created the successful animated film '' The Rescuers,'' grossing $48 million at the box office. The live-acton/animated musical ''