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The Walt Disney Company

The Walt Disney Company. It all started with a mouse…. Try to imagine a world without Walt Disney……. A world without his magic, whimsy, and optimism…Walt Disney transformed the entertainment industry into what we know today.

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The Walt Disney Company

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  1. The Walt Disney Company It all started with a mouse…

  2. Try to imagine a world without Walt Disney……. • A world without his magic, whimsy, and optimism…Walt Disney transformed the entertainment industry into what we know today. • He was a pioneer in the world of animation, education and broadcasting….he was in the business of making dreams come true

  3. Disney Mission • Disney's overriding objective is to create shareholder value by continuing to be the world's premier entertainment company from a creative, strategic, and financial standpoint. "We are not trying to entertain the critics. I'll take my chances with the public." Walt Disney

  4. Disney/Pixar Deal • Disney secured animation division with the $7.4 B acquisition of Pixar • Each Pixar share yields 2.3 Disney shares • Steven Jobs becomes largest Disney shareholder and new board member • Will pass to family • Pro for Pixar – recent b.o. slide, cash out • Pro for Disney – price could increase if Ratatouille a big hit!

  5. Pixar Track Record Budget Box Office Revenue (US) (WW) $192M $358M $163M $358M $246M $486M $256M $529M $340M $865M $261M $624M $244M $455M $206M $616M $224M $553M $293M $727M $414M $1.06B $191M $549M $237.3M $531M • Toy Story $30M • A Bug’s Life $45M • Toy Story 2 $90M • Monsters, Inc. $115M • Finding Nemo $93M • The Incredibles $92M • Cars $120M • Ratatouille $150M • Wall*E $180M • Up $175M • Toy Story 3 $200M • Cars 2 $200M • Brave $185M

  6. Timeline • December 5, 1901 Walter Elias Disney is born in Chicago, Illinois • As early as age seven he is selling sketches to neighbors for extra money • After returning home from service with the Red Cross during WWI, he began a career in commercial art and started experimenting with animation.

  7. Timeline • Walt began producing the Alice Comedies but his company Laugh-O-Grams soon went belly-up • So before he hit 21 – he headed to California and Hollywood • He and his brother, Roy O. Disney started with $750 and set up shop in their uncle’s garage

  8. Timeline • 1928 – Mickey Mouse makes his debut in Steamboat Willie • First synchronized sound cartoon • 1932 – Walt wins his first Academy Award with Flowers and Trees • Redoes film after completing 50% to be in color

  9. Timeline • 1937 – Snow White and the Seven Dwarfs is the first full-length animated musical feature • Produced for $1,488,423 during the height of the Depression • Considered a cinema classic and treasure

  10. Snow White and the Seven Dwarfs – Why shift to full length pictures? • Afforded the opportunity to tell a story for longer than 7 minutes • Economic Necessity • Silly Symphonies and Mickey Mouse were main attractions but earned fee $ instead of b.o.

  11. Premiere • Classic. Music, animation and story considered masterfully done. Some concern over the strength of some scenes for children (witch) • Released by RKO Pictures • December 21, 1937 • Critics universally raved about the new cinema

  12. Success? • By the outbreak of WWII Snow White had grossed $8M world wide • In some parts of the US given an ‘A’ certificate as unsuitable for small children • Not lifted til the mid 1950s • Profits driven into new facilities • $10,000 down payment on 51 acres in Burbank for a new studio (total sale price $100k); Studio cost $3.8M • Special Academy Award given by Shirley Temple • Second feature Pinocchio (1940) did not return $ as quickly – why??

  13. Timeline • Over the next five years Pinocchio, Dumbo, Bambi, and Fantasia are released • Personal tragedy strikes Walt in 1938 when his mother is accidentally killed in the new home Walt bought for his parents. A faulty furnace is to blame and Walt never forgives himself.

  14. Timeline • 1940 - Construction is completed on the Burbank studios and Disney now employs over 1,000 artists • 1945 – The Three Caballeros combines live action with animation – a technique Walt reuses with Mary Poppins and Song of the South

  15. Corporate Direction • Studio moves from shorts to full length animated films …. What is next? • Scope of Business -Entertainment

  16. Timeline - Disneyland • "We did it (Disneyland), in the knowledge that most of the people I talked to thought it would be a financial disaster - closed and forgotten within the first year."

  17. Disneyland – The Deal • Disney and ABC work together for the construction and opening of Disneyland • ABC advances Disney $500K and guarantees all WED bank loans. • ABC gets 35% ownership, 100% of concessions profits for 10 years and an 8 year commitment from Disney for use of its inventory of films to be shown in a one hour TV show.

  18. DisneyLand Factsand direction • Disneyland (the park) costs $17 million and includes 461 acres • DisneyWorld opened in 1971 at a cost of $331M; 30,080 acres; 17.M+vistors 2011 • As of 2011 almost 616+M have visited Disneyland; 16.14M+ last year • Cars Land opened 2012 - $1.1B expansion

  19. Diversification of DisneyLand • Developed into a resort in the 1990’s • California Adventure – February 8, 2001 • 6.34M visitors … theme issues have required reworking by the imagineers • 13th ranked park in attendance

  20. A Deal’s a Deal! Disney Enters TV • 1954 – began television production and programming • One of the first to present full-color programming and held the patent for technicolor for two years • Favorites – Mickey Mouse Club, Wonderful World of Disney

  21. Setting Disney Sites Globally • The vision of the Walt Disney Company was to develop a set of theme parks initially in the U.S. and then abroad • Initial growth began with the focus on Central Florida • Only 2% of Disneyland’s visitors were coming from East of the Mississippi

  22. EPCOT – Experimental Prototype Community of Tomorrow • 1965 – Walt began planning for the problems of urban development • Personally directed the design of EPCOT • Highlights creativity in American living

  23. Timeline Disney World • Walt directed the purchase of 47 square miles of land in central Florida. • He envisioned that this land would be for Disney world • Entertainment that would include amusement parks, hotels, resorts and EPCOT

  24. Timeline – DisneyWorld • October 1, 1971 Disney World Opens • Magic Kingdom • Contemporary Hotel • Polynesian Hotel • October 1, 1982 EPCOT opens • May 1, 1989 • Disney-MGM Studios Theme Park opens • April 22, 1998 Animal Kingdom is opened

  25. Timeline Today • Disney World is now composed of the Orlando parks and resorts • Magic Kingdom • Animal Kingdom • Epcot, Disney-MGM • 3 water parks • Downtown/ Westside Disney • 33 hotels/vacation resorts • Disney’s Wide World of Sports

  26. Disney Visitors in 2011 • Magic Kingdom – 17M+ • Epcot – 10.83M • Disney Hollywood Studios – 9.7M • Animal Kingdom – 9.8M

  27. Future Developments Golden Oaks 2011 World Of Animation Resort 2012 Avatar Land 2017

  28. Disney Parks WorldWide • Tokyo Disney – Licensed by the Oriental Land Company and not owned by Disney • Opened in 1983 • 2011 Attendance 14M • 494 acres, six miles from Tokyo • Tokyo DisneySea added in 2001 • Costs ran above $4 billion • Similar in concept to Universal’s Islands of Adventure

  29. Disney Parks WorldWide • Disneyland Paris (originally EuroDisney) • Grossly over budget ($2 billion) • Poor management • Employee and attendance problems • 1995 began turnaround • Space Mountain added • New Name • July 1995 came into the black • Ultimately added Walt Disney Studios park (3/2002) and Disney Village

  30. Disney Parks Expand • Disney’s California Adventure added in 2001 in Anaheim • Original idea was a “WestCot” • Widely criticized for lack of kid rides, Disney icons • Hong Kong Disney • Opened in 9/2005, 311 acres • Jointly owned with the Hong Kong government • Smallest of Disney parks • Attendance figures are lagging • Shanghai park under construction set for opening December 2015

  31. Theme Park 2x2

  32. Disney Facts • Disney ranks 64th on the Fortune 500 list • Ranks above Coca-Cola, Dow Chemical, American Express, 3M • World’s largest Media and Entertainment Conglomerate

  33. Disney Products

  34. Walt Disney Company • Chairman of the Board – John E. Pepper, former CEO of Proctor and Gamble • CEO • Robert Iger • Former CEO, Michael Eisner retires and resigns from BOD 9/05 Revenues 1st Quarter profits up 54% $10,716 (million) in revenue $36.1 (billion) in 2009 (down 4% from 2008) • EPS vs. .44 in 2009 • Acquired Marvel and moving ahead with Shanghai Disney

  35. Disney Holdings • 5 vacation resorts • 39 hotels • 11 theme parks • 6 record labels • 11 cable television networks • 2 water parks • 8 motion picture studios • Walt retained ownership of the trains and monorails at Disneyland via the RETLAW Company (Walter backwards) and was paid $.64 per person on ride until absorbed by Walt Disney Company in 1980s. • 82% occupancy in 2011

  36. Noteworthy Events Post Eisner • Roy Disney dies in December 2009 • Theme Park attendance rose 14% • Stock immediately rose by 2% by March 2005, after Eisner’s announcement • Loss of attention to detail and quality, appearance of focus on profits and margins • New ride Soarin’ simply a rehash of Soarin over California (California Adventure Rides) and Tower of Terror (Disney MGM ride), Nemo ride problematic • Traditional animation to return in 2009 after reacquiring John Lassiter via Pixar buy

  37. Walt Disney Company • The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company with operations in four business segments: • Media Networks • Studio Entertainment which produces live-action and animated motion pictures, television animation programs, musical recordings and live stage plays.; • Consumer Products, which licenses the Company's characters and other intellectual property for use in connection with merchandise and publications and publishes books and magazines; • Theme Parks and Resorts

  38. Media Networks • ABC TV Network • 233 primary affiliates • 99.9% market coverage • 10 broadcast TV stations • ABC Radio • 8900 program affiliates on 4500 stations • 130 million domestic listeners • 27 radio station • Radio Disney, ESPN radio

  39. Media Networks • Cable and International Broadcast • Principally involved in production of programming • Distributes to other cable broadcasters under Buena Vista TV, Disney TV and Touchstone TV • Disney Cable Broadcasting • Disney Channel • Jetix • Toon Disney • SoapNet • 80% ESPN • 42% A&E/Lifetime • 39.6% of E! (looking to sell)

  40. Studio Entertainment • Produces and acquires live action motion pictures • Touchstone • Miramax and subsidiary Dimension • Walt Disney Pictures • Walt Disney Feature Animation • DisneyToons • Hollywood Pictures • Buena Vista Home video • Walt Disney Studios tops $1B at b.o. for 9th time in 11 years and also tops $1B internationally (2006) • BVHE – Finding Nemo becomes highest selling DVD ever! • Released 7 of top 10 straight to DVDs • BVI - $ tops 12.1B

  41. Studio Entertainment • Under the Walt Disney TV • Produces, distributes animated TV and features • Recorded Entertainment • Walt Disney Records, Buena Vista Records, Hollywood Records and Lyric Street • Original recordings, Soundtracks and read-alongs (edutainment) • A Cinderella Story soundtrack strong • Live Stage Production • Broadway's Lion King and Beauty and the Beast

  42. Film Divisions • Walt Disney Pictures • G rated family films generally • Wall-e, Bolt • Beverly Hills Chihuahua • Touchstone Picture • Dan in Real Life, Swing Vote • Hollywood Pictures • Miramax Pictures • Operating Income only $98M, down 42%

  43. Parks and Resorts • Walt Disney Resort • Animal Kingdom • Magic Kingdom • EPCOT • MGM Studios • Hotels and villas • Conference centers • Water parks • Golf and Tennis • Putt Putt • Income fell 1% last year

  44. Parks and Resorts • Walt Disney Imagineering • Designs and updates all parks and resorts • Oversees construction at these venues • Disney Regional Entertainment • ESPN Zone - dining and entertainment • Disney Cruise Lines • Disney Vacation Club

  45. Parks and Resorts • Royalties earned from • Tokyo Disneyland (owned by Oriental Land Co.) • Disney Sea • Magic Kingdom in Paris (51%) • Disneyland Hong Kong (47%) • Disneyland and California Adventure • Operating Income $1,123M

  46. Consumer Products • Products produced include: • Electronics • Hardware • Publishing • Buena Vista Games • Baby Einstein • Muppets • License Disney Stores • Disney Direct Marketing

  47. Values that Make the Disney Brand Stand Out • Innovation • Quality • Community • Storytelling • Optimism • Decency

  48. Disney Techniques • The competition is anyone the customer compare you with • LL Bean • FedEx • MTV

  49. Disney Techniques • Pay fantastic detail to detail • Disney considers the entire 45,000 employees to be apart of the custodial crew at DisneyWorld • Cinderella’s castle mural • One sister has green cheeks (green with envy) and one with red cheeks (red with rage)

  50. Disney Techniques We don’t have employees – We have cast members • Everyone Walks the Talk • It is all about the way you do your job • Disney is about magic and fun • Every customer contact should be an opportunity to create value

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