Institutional Shareholder Services Inc. ( ISS ) is an American proxy advisory firm. Hedge funds, mutual funds and similar organizations that own shares of multiple companies pay ISS to advise (and often vote their shares) regarding share holder votes. As the leading firm in the industry, ISS commands a 48 percent market share as of 2021, with its nearest rival, Glass Lewis , holding a 42 percent market share.
199-455: In response to ISS's recommendations to vote against fee-shifting provisions in the event of securities fraud litigation, some have criticized ISS and suggested that it needs to be regulated. ISS was founded in 1985. With Disney announcing the combination of the CEO and chairman positions on October 6, 2011, past the date of shareholder proposal deadline, and increase CEO/chair pay, ISS called for
398-540: A Golden Globe for Best Picture , and it received 6 Academy Award nominations, becoming the first animation nominated for Best Picture; it won Best Score, Best Sound , and Best Song. The film was critically acclaimed, with some critics considering it to be the best Disney film. To coincide with the 1992 release of The Mighty Ducks , Disney founded the National Hockey League team The Mighty Ducks of Anaheim . Disney's next animated feature Aladdin
597-645: A 12-week goodwill visit to South America, funded by the Office of the Coordinator of Inter-American Affairs . During the trip, the animators began plotting films, taking inspiration from the local environments and music. As a result of the strike, federal mediators compelled the studio to recognize the Screen Cartoonist's Guild and several animators left, leaving it with 694 employees. To recover from their financial losses, Disney rushed into production
796-441: A 26% growth in revenue. Los Angeles Times called Disney's recovery "a real rarity in the corporate world". On May 1, 1989, Disney opened Disney-MGM Studios, its third amusement park at Walt Disney World, and later became Hollywood Studios . The new park demonstrated to visitors the movie-making process, until 2008, when it was changed to make guests feel they are in movies. Following the opening of Disney-MGM Studios, Disney opened
995-442: A Kansas City advertising firm, to run Disney's merchandising; Kamen agreed and transformed Disney's merchandising. Within a year, Kamen had 40 licenses for Mickey Mouse and within two years, had made $ 35 million worth of sales. In 1934, Disney said he made more money from the merchandising of Mickey Mouse than from the character's films. The Waterbury Clock Company created a Mickey Mouse watch, which became so popular it saved
1194-692: A choir from the US Army marched down Main Street. The icon of the park was the Cinderella Castle . On Thanksgiving Day, cars traveling to the Magic Kingdom caused traffic jams along interstate roads. On December 21, 1971, Roy died of cerebral hemorrhage at St. Joseph Hospital. Donn Tatum , a senior executive and former president of Disney, became the first non-Disney-family-member to become CEO and chairman. Card Walker , who had been with
1393-402: A contract dispute, with Disney asking for a larger fee, while Mintz sought to reduce the price. Disney discovered Universal Pictures owned the intellectual property rights to Oswald, and Mintz threatened to produce the shorts without him if he did not accept the reduction in payment. Disney declined and Mintz signed 4 of Walt Disney Studio's primary animators to start his own studio; Iwerks was
1592-458: A contract with Winkler for $ 1,500, to create six series of Alice Comedies , with an option for two more six-episode series. Walt and Roy Disney founded Disney Brothers Cartoon Studio on October 16, 1923, to produce the films. In January 1926, the Disneys moved into a new studio on Hyperion Street and the studio's name was changed to Walt Disney Studio . After producing Alice films over
1791-687: A deal in which all parties would obtain 27% equity in streaming service Hulu , and Disney added ABC Family and Disney Channel to the streaming service. On December 16, Roy E. Disney died of stomach cancer ; he was the last member of the Disney family to work for Disney. In March 2010, Haim Saban reacquired from Disney the Power Rangers franchise, including its 700-episode library, for around $ 100 million. Shortly after, Disney sold Miramax Films to an investment group headed by Ronald Tutor for $ 660 million. During that time, Disney released
1990-576: A dual role as the twins in The Parent Trap (1961). Another child actor, Kevin Corcoran , was prominent in many Disney live-action films, first appearing in a serial for The Mickey Mouse Club, where he would play a boy named Moochie. He worked alongside Mills in Pollyanna , and starred in features such as Old Yeller (1957), Toby Tyler (1960), and Swiss Family Robinson . In 1964,
2189-528: A full-length compilation feature, The Many Adventures of Winnie the Pooh , which was released in 1977. Walt Disney died in December 1966, ten months before the studio's next film The Jungle Book , was completed and released. The film was a success, finishing 1967 as the fourth highest-grossing film of the year. Following Walt Disney's death, Wolfgang Reitherman continued as both producer and director of
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#17327803379602388-416: A golf course, and 6 hotels. In 1988, Disney's 27th animated film Oliver & Company was released the same day as that of former Disney animator Don Bluth's The Land Before Time . Oliver & Company out-competed The Land Before Time , becoming the first animated film to gross over $ 100 million in its initial release, and the highest-grossing animated film in its initial run. Disney became
2587-642: A groundbreaking live-action/animation hybrid directed by Robert Zemeckis , which featured licensed animated characters from other studios (such as Warner Bros., MGM, and Universal). Disney set up a new animation studio under Williams' supervision in London to create the cartoon characters for Roger Rabbit , with many of the artists from the California studio traveling to England to work on the film. A significant critical and commercial success, Roger Rabbit won three Academy Awards for technical achievements. and
2786-606: A joint venture with Infoseek in January 1999, Disney acquired the rest of Infoseek later that year. After unsuccessful negotiations with cruise lines Carnival and Royal Caribbean International , in 1994, Disney announced it would start its own cruise-line operation in 1998. The first two ships of the Disney Cruise Line were named Disney Magic and Disney Wonder , and built by Fincantieri in Italy. To accompany
2985-451: A lower advance payment for each Oswald short. Disney refused and, as Universal owned the rights to Oswald rather than Disney, Mintz set up his own animation studio to produce Oswald cartoons. Most of Disney's staff was hired away by Mintz to move over once Disney's Oswald contract expired in mid-1928. Working in secret while the rest of the staff finished the remaining Oswalds on contract, Disney and his head animator Ub Iwerks led
3184-542: A lukewarm response at the box office and was a sharp critical disappointment in its initial release. Peter Pan , released in 1953, on the other hand, was a commercial success and the sixth highest-grossing film of the year . In 1955, Lady and the Tramp was released to higher box office success than any other Disney animated feature since Snow White and the Seven Dwarfs , earning an estimated $ 6.5 million in rentals at
3383-421: A major success by the early 1940s, Disney diversified into live-action films, television, and theme parks in the 1950s. However, following Walt Disney's death in 1966, the company's profits, especially in the animation division , began to decline. In 1984, Disney's shareholders voted Michael Eisner as CEO, who led a reversal of the company's decline through a combination of international theme park expansion and
3582-480: A merchandising division named Walt Disney Enterprises , and subsidiaries called Disney Film Recording Company, Limited and Liled Realty and Investment Company; the latter of which managed real estate holdings. Walt Disney and his wife held 60% (6,000 shares) of the company, and Roy Disney owned 40%. The comic strip Mickey Mouse debuted on January 13, 1930, in New York Daily Mirror and by 1931,
3781-406: A modern pop soundtrack. Oliver & Company opened in the theaters on the same day as another Bluth/Amblin/Universal animated film, The Land Before Time ; however, Oliver & Company outgrossed The Land Before Time in the U.S. and went on to become the most successful animated feature in the U.S. to that date, though the latter's worldwide box office gross was higher than the former. At
3980-560: A new distribution contract with Columbia Pictures . Powers, in return, signed away Ub Iwerks, who began producing cartoons at his own studio, although he would return to Disney in 1940. Columbia distributed Disney's shorts for two years before the Disney studio entered a new distribution deal with United Artists in 1932. The same year, Disney signed a two-year exclusive deal with Technicolor to utilize its new 3-strip color film process , which allowed for fuller-color reproduction where previous color film processors could not. The result
4179-476: A no vote against the four Nominating and Governance Committee board members at the 2012 annual meeting. ISS recommended to clients two candidates nominated by billionaire investor Carl Icahn to the drugmaker Forest Laboratories ’ board of directors in a 2012 proxy contest. In 2013 ISS agreed to pay the SEC a fine of $ 300,000 and retain an independent compliance consultant to settle charges that it failed to safeguard
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#17327803379604378-501: A park called Disney World , which included Magic Kingdom —a larger version of Disneyland—and the City of Tomorrow, at the park's center. By 1967, the company had made expansions to Disneyland, and more rides were added in 1966 and 1967, at a cost of $ 20 million. The new rides included Walt Disney's Enchanted Tiki Room , which was the first attraction to use Audio-Animatronics ; Walt Disney's Carousel of Progress , which debuted at
4577-588: A provider of ESG Scoring for the U.S. Municipal marketplace. The Walt Disney Company The Walt Disney Company , commonly referred to as simply Disney , is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios in Burbank, California . Disney was founded on October 16, 1923, by brothers Walt Disney and Roy Oliver Disney as Disney Brothers Cartoon Studio ; it also operated under
4776-410: A provider of sustainable and responsible investment (SRI) research and solutions such as corporate engagement, screening, monitoring and assessing companies’ performance. In January 2017, ISS acquired IW Financial, a U.S.-based firm offering environmental, social, and governance (ESG) research, consulting, and portfolio management solutions. In June 2017, ISS acquired Climate Neutral Investments (CNI),
4975-595: A regular basis, with many of the shorts divisions' personnel either leaving the company or being reassigned to work on Disney television programs such as The Mickey Mouse Club and Disneyland . While the Silly Symphonies shorts had dominated the Academy Award for Best Short Subject (Cartoons) during the 1930s, its reign over the most awards had been ended by MGM 's Tom and Jerry cartoons, Warner Bros' Looney Tunes and Merrie Melodies , and
5174-515: A scene from its first synchronized sound cartoon, Steamboat Willie (1928). Founded on October 16, 1923, by brothers Walt Disney and Roy O. Disney after the closure of Laugh-O-Gram Studio , it is the longest-running animation studio in the world. It is currently organized as a division of Walt Disney Studios and is headquartered at the Roy E. Disney Animation Building at the Walt Disney Studios lot in Burbank, California . Since its foundation,
5373-569: A separate "story department" with storyboard artists dedicated to story development. With well-developed characters and an interesting story, the 1933 Technicolor Silly Symphony cartoon Three Little Pigs became a major box office and pop culture success, with its theme song " Who's Afraid of the Big Bad Wolf? " becoming a popular chart hit. In 1934, Walt Disney gathered several key staff members and announced his plans to make his first animated feature film. Despite derision from most of
5572-561: A series of silent Alice Comedies short films featuring a live-action child actress in an animated world. The Alice Comedies were distributed by Margaret J. Winkler 's Winkler Pictures , which later also distributed a second Disney short subject series, the all-animated Oswald the Lucky Rabbit , through Universal Pictures starting in 1927. Upon relocating to California, the Disney brothers initially started working in their uncle Robert Disney's garage at 4406 Kingswell Avenue in
5771-487: A small handful of loyal staffers in producing cartoons starring a new character named Mickey Mouse . The first two Mickey Mouse cartoons, Plane Crazy and The Galloping Gaucho , were previewed in limited engagements during the summer of 1928. For the third Mickey cartoon, however, Disney produced a soundtrack, collaborating with musician Carl Stalling and businessman Pat Powers , who provided Disney with his bootlegged "Cinephone" sound-on-film process. Subsequently,
5970-752: A talking duck that would be the studio's new gag character. Donald Duck made his first appearance in 1934 in The Wise Little Hen . Though he did not become popular as quickly as Mickey had, Donald Duck had a featured role in Donald and Pluto (1936), and was given his own series. After a disagreement with Columbia Pictures about the Silly Symphony cartoons, Disney signed a distribution contract with United Artists from 1932 to 1937 to distribute them. In 1932, Disney signed an exclusive contract with Technicolor to produce cartoons in color until
6169-494: A ten-year contract to make five films, with Disney as distributor. They would share the cost, profits, and logo credits, calling the films Disney-Pixar productions. During the Disney Renaissance, film division Touchstone also saw success with film such as Pretty Woman (1990), which has the highest number of ticket sales in the U.S. for a romantic comedy and grossed $ 432 million; Sister Act (1992), which
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6368-841: A theme song for the television series Zorro . The company hired them as exclusive staff songwriters, an arrangement that lasted 10 years. They wrote many songs for Disney's films and theme parks, and several were commercial hits. In the late 1950s, Disney ventured into comedy with the live-action films The Shaggy Dog (1959), which became the highest-grossing film in the US and Canada for Disney at over $ 9 million, and The Absent Minded Professor (1961), both starring Fred MacMurray . Disney also made live-action films based on children's books including Pollyanna (1960) and Swiss Family Robinson (1960). Child actor Hayley Mills starred in Pollyanna , for which she won an Academy Juvenile Award . Mills starred in 5 other Disney films, including
6567-464: A tremendous success, with WALL-E winning the Oscar for Best Animated Feature. After acquiring most of Jetix Europe through the acquisition of Fox Family Worldwide, Disney bought the remainder of the company in 2008 for $ 318 million. Iger introduced D23 in 2009 as Disney's official fan club. In February, Disney announced a deal with DreamWorks Pictures to distribute 30 of their films over
6766-720: A two-year tour of ice shows featuring Disney charters, made its premiere at the Brendan Byrne Meadowlands Arena after Disney licensed its characters to Feld Entertainment . The same month, Disney's animated film The Fox and the Hound was released and became the highest-grossing animated film to that point at $ 40 million. It was the first film that did not involve Walt and the last major work done by Disney's Nine Old Men, who were replaced with younger animators. As profits started to decline, on October 1, 1982, Epcot, then known as EPCOT Center, opened as
6965-556: A venture with The Nature Conservancy , Disney purchased 8,500 acres (3,439 ha) of Everglades headwaters in Florida to protect native animals and plant species, establishing the Disney Wilderness Preserve . On April 3, 1994, Frank Wells died in a helicopter crash; he, Eisner, and Katzenberg helped the company's market value go from $ 2 billion to $ 22 billion since taking office in 1984. On June 15
7164-540: A visit to Griffith Park with his daughters. He said he watched them ride a carousel and thought there "should be ... some kind of amusement enterprise built where the parents and the children could have fun together". Initially planning the construction of an eight-acre (3.2 ha) Mickey Mouse Park near the Burbank studio, Walt changed the planned amusement park's name to Disneylandia, then to Disneyland . A new company, WED Enterprises (now Walt Disney Imagineering ),
7363-489: Is among Disney's most notable assets, with the stars of its animated shorts— Mickey Mouse , Minnie Mouse , Donald Duck , Daisy Duck , Goofy , and Pluto —becoming recognizable figures in popular culture and mascots for the Walt Disney Company as a whole. Three of the studio's films— Frozen (2013), Zootopia (2016), and Frozen II (2019)—are all among the 50 highest-grossing films of all time , with
7562-485: Is known for its film studio division, the Walt Disney Studios , which includes Walt Disney Pictures , Walt Disney Animation Studios , Pixar , Marvel Studios , Lucasfilm , 20th Century Studios , 20th Century Animation , and Searchlight Pictures . Disney's other main business units include divisions in television, broadcasting, streaming media, theme park resorts, consumer products, publishing, and international operations. Through these divisions, Disney owns and operates
7761-568: Is one of the biggest and best-known companies in the world and was ranked number 48 on the 2023 Fortune 500 list of biggest companies in the United States by revenue. In 2023, the company's seat in Forbes Global 2000 was 87. Since its founding, the company has won 135 Academy Awards , 26 of which were awarded to Walt . The company has been said to have produced some of the greatest films of all time , as well as revolutionizing
7960-512: The 1964 New York World's Fair before moving to Disneyland in 1967; and Dumbo the Flying Elephant . On November 20, 1964, Walt sold most of WED Enterprise to Walt Disney Productions for $ 3.8 million after being persuaded by Roy, who thought Walt having his own company would cause legal problems. Walt formed a new company called Retlaw to handle his personal business, primarily Disneyland Railroad and Disneyland Monorail . When
8159-453: The ABC television network ; cable television networks such as Disney Channel , ESPN , Freeform , FX , and National Geographic ; publishing, merchandising, music, and theater divisions; direct-to-consumer streaming services such as Disney+ , ESPN+ , Hulu , and Hotstar ; and Disney Experiences , which includes several theme parks, resort hotels, and cruise lines around the world. Disney
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8358-583: The Disneyland theme park, production of the animated films was left primarily in the hands of the "Nine Old Men" trust of head animators and directors. This led to several delays in approvals during the production of Sleeping Beauty , which was finally released in 1959. At $ 6 million, it was Disney's most expensive film to date, produced in a heavily stylised art style devised by artist Eyvind Earle and presented in large-format Super Technirama 70 with six-track stereophonic sound. However, despite being
8557-680: The Donald Duck cartoons eclipsed the Mickey Mouse series in popularity. Silly Symphonies , which garnered seven Academy Awards , ceased in 1939, until the shorts returned to theatres with some re-issues and re-releases. The success of Snow White allowed Disney to build a new, larger studio on Buena Vista Street in Burbank, where The Walt Disney Company remains headquartered to this day. Walt Disney Productions had its initial public offering on April 2, 1940, with Walt Disney as president and Roy Disney as CEO. The studio launched into
8756-626: The Grand Canyon and Yellowstone National Park . That year, the company earned a gross total of $ 24.5 million compared to the $ 11 million the previous year. Disney continued to delegate much of the animation work to the studio's top animators, known as the Nine Old Men . The company produced an average of five films per year throughout the 1950s and 60s. Animated features of this period included Sleeping Beauty (1959), One Hundred and One Dalmatians (1961), and The Sword in
8955-546: The Los Feliz neighborhood of Los Angeles, then, in October 1923, formally launched their studio in a small office on the rear side of a real estate agency's office at 4651 Kingswell Avenue. In February 1924, the studio moved next door to office space of its own at 4649 Kingswell Avenue. In 1925, Disney put down a deposit on a new location at 2719 Hyperion Avenue in the nearby Silver Lake neighborhood , which came to be known as
9154-625: The Muppets franchise from the Jim Henson Company for $ 75 million, founding Muppets Holding Company, LLC . Following the success of Disney-Pixar films Finding Nemo (2003), which became the second highest-grossing animated film of all time at $ 936 million, and The Incredibles (2004), Pixar looked for a new distributor once its deal with Disney ended in 2004. Disney sold the loss-making Disney Stores chain of 313 stores to Children's Place on October 20. Disney also sold
9353-592: The Tree of Life at its center. Receiving positive reviews, Disney's next animated films Mulan and Disney-Pixar film A Bug's Life were released on June 5 and November 20, 1998. Mulan became the year's sixth-highest-grossing film at $ 304 million, and A Bug's Life was the year's fifth-highest at $ 363 million. In a $ 770-million transaction, on June 18, Disney bought a 43% stake of Internet search engine Infoseek for $ 70 million, also giving it Infoseek-acquired Starwave . Starting web portal Go.com in
9552-428: The attack on Pearl Harbor , the studio housed over 500 U.S. Army soldiers who were responsible for protecting nearby aircraft factories from enemy bombers. In addition, several Disney animators were drafted to fight in the war and the studio was contracted on producing wartime content for every branch of the U.S. military , particularly military training, and civilian propaganda films. From 1942 to 1943, 95 percent of
9751-581: The third highest-grossing film of the year and the most successful and best reviewed Disney animated film since The Jungle Book . The film was reissued in 1983, accompanied by a new Disney featurette, Mickey's Christmas Carol . The production of The Rescuers signaled the beginning of a changing of the guard process in the personnel at the Disney animation studio, as veterans such as Milt Kahl and Les Clark retired; they were gradually replaced by new talents such as Don Bluth , Ron Clements , John Musker and Glen Keane . The new animators, selected from
9950-513: The 1930s, and became one of the best-known Disney songs. Other Silly Symphonies films won the Best Cartoon award from 1931 to 1939, except for 1938, when another Disney film, Ferdinand the Bull , won it. In 1934, Walt Disney announced a feature-length animated film, Snow White and the Seven Dwarfs . It would be the first cel animated feature and the first animated feature produced in
10149-442: The 1950s, Disney returned to producing full-length animated feature films, beginning with Cinderella (1950), its first feature in eight years. A critical and commercial success, Cinderella saved Disney after the financial pitfalls of the wartime era; it was its most financially successful film since Snow White , making $ 8 million in its first year. Walt began to reduce his involvement with animation, focusing his attention on
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#173278033796010348-534: The 1950s. Following its success, production on the in-limbo features Alice in Wonderland , Peter Pan , and Lady and the Tramp was resumed. In addition, an ambitious new project, an adaptation of the Brothers Grimm fairy tale " Sleeping Beauty " set to Tchaikovsky 's classic score, was begun but took much of the rest of the decade to complete. Alice in Wonderland , released in 1951, met with
10547-529: The 1959 layoffs and competition for Walt Disney's attention from the company's expanded live-action film, TV and theme park departments, production continued on feature animation productions at a reduced level. In 1961, the studio released One Hundred and One Dalmatians , an animated feature that popularized the use of xerography during the process of inking and painting traditional animation cels . Using xerography, animation drawings could be photochemically transferred rather than traced from paper drawings to
10746-505: The 1960s", starred in 10 Disney films, including That Darn Cat! (1965), The Ugly Dachshund (1966), and The Love Bug (1968). Disney's last child actor of the 1960s was Kurt Russell , who had signed a ten-year contract. 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 (1971), and The Strongest Man in
10945-573: The 1970s to the present. The Sword in the Stone was released in 1963 and was the sixth highest-grossing film of the year in North America with estimated rentals of $ 4.75 million. A featurette adaptation of one of A. A. Milne 's Winnie-the-Pooh stories, Winnie the Pooh and the Honey Tree , was released in 1966, to be followed by several other Pooh featurettes over the years and
11144-558: The Disney studio. A bitter union strike began in May 1941 , which was resolved without the angered Walt Disney's involvement in July and August of that year. As Walt Disney Productions was being set up as a union shop, Walt Disney and several studio employees were sent by the U.S. government on a Good Neighbor policy trip to Central and South America. The Disney strike and its aftermath led to an exodus of several animation professionals from
11343-470: The Hyperion Studio to distinguish it from the studio's other locations, and, in January 1926, the studio moved there and took on the name Walt Disney Studio . Meanwhile, after the first year's worth of Oswalds , Walt Disney attempted to renew his contract with Winkler Pictures, but Charles Mintz , who had taken over Margaret Winkler's business after marrying her, wanted to force Disney to accept
11542-838: The Investment Climate Data division of the South Pole Group. In February 2018, ISS acquired EVA Dimensions, a provider of cash-flow-based analysis of corporate performance. In March 2018, ISS acquired oekom AG, a provider of environmental, social, and governance (ESG) ratings and data. In February 2019, ISS acquired CAER, a Canberra-based research company that has worked with institutional investors seeking to monitor portfolio companies’ ESG policies, practices, and disclosures since 2000. In October 2020, ISS acquired FICO Cyber Risk Score Business, which helps organizations in their efforts to measure, manage and reduce cyber risk. In February 2021, ISS acquired ACRe Data,
11741-423: The Lucky Rabbit and 26 cartoons featuring the character. On February 6, the company announced it would be merging its ABC Radio networks and 22 stations with Citadel Broadcasting in a $ 2.7 billion deal, though which Disney acquired 52% of television broadcasting company Citadel Communications . The Disney Channel movie High School Musical aired and its soundtrack was certified triple platinum , becoming
11940-471: The Mickey Mouse series, which was made using synchronized sound , becoming the first post-produced sound cartoon. The sound was created using Powers' Cinephone system, which used Lee de Forest 's Phonofilm system. Pat Powers ' company distributed Steamboat Willie , which was an immediate hit. In 1929, the company successfully re-released the two earlier films with synchronized sound. After
12139-509: The NHL team Mighty Ducks in 2005. Roy E. Disney decided to rejoin the company and was given the role of consultant with the title "Director Emeritus". In March 2005, Bob Iger, president of the company, became CEO after Eisner's retirement in September; Iger was officially named head of the company on October 1. Disney's eleventh theme park Hong Kong Disneyland opened on September 12, costing
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#173278033796012338-534: The North American box office in 1955. Lady and the Tramp is significant as Disney's first widescreen animated feature, produced in the CinemaScope process, and was the first Disney animated feature to be released by Disney's own distribution company, Buena Vista Distribution . By the mid-1950s, with Walt Disney's attention primarily set on new endeavours such as live-action films, television and
12537-606: The Pauper , The Rescuers Down Under (1990) was Disney's first animated feature sequel and the studio's first film to be fully colored and composited via computer using the CAPS/ink-and-paint system. However, the film did not duplicate the success of The Little Mermaid . The next Disney animated feature, Beauty and the Beast , had begun production in London but was moved back to Burbank after Disney decided to shutter
12736-408: The Seven Dwarfs , one of the first full-length animated feature films and the first U.S.-based one. In 1986, during a large corporate restructuring, Walt Disney Productions, which had grown from a single animation studio into an international media conglomerate , was renamed The Walt Disney Company and the animation studio became Walt Disney Feature Animation ( WDFA ) in order to differentiate it from
12935-540: The South (1946) which would become one of Disney's most controversial films. As a result of its financial problems, Disney began re-releasing its feature films in 1944. In 1948, it began premiering the nature documentary series, True-Life Adventures , which ran until 1960, winning 8 Academy Awards. In 1949, the Walt Disney Music Company was founded to help with profits for merchandising. In
13134-532: The Stone (1963). Sleeping Beauty was a financial loss for the company, and at $ 6 million, had the highest production costs up to that point. One Hundred and One Dalmatians introduced an animation technique using the xerography process to electromagnetically transfer the drawings to animation cels , resulting in a transformed art style for the studio's animated films. In 1956, the Sherman Brothers , Robert and Richard , were asked to produce
13333-559: The US, Tokyo Disneyland , opened in Urayasu . Costing around $ 1.4 billion, construction started in 1979 when Disney and The Oriental Land Company agreed to build a park together. Within its first ten years, the park had over 140 million visitors. After an investment of $ 100 million, on April 18, Disney started a pay-to-watch cable television channel called Disney Channel , a 16-hours-a-day service showing Disney films, twelve programs, and two magazines shows for adults. Although it
13532-526: The US. Its novelty made it a risky venture; Roy tried to persuade Walt not to produce it, arguing it would bankrupt the studio, and while widely anticipated by the public, it was referred to by some critics as "Disney's Folly". Walt directed the animators to take a realistic approach, creating scenes as though they were live action. While making the film, the company created the multiplane camera , consisting of pieces of glass upon which drawings were placed at different distances to create an illusion of depth in
13731-513: The Walt Disney Company, stating the old name only referred to the film industry. With Disney's animation industry declining, the animation department needed its next movie The Great Mouse Detective to be a success. It grossed $ 25 million at the box office, becoming a much-needed financial success. To generate more revenue from merchandising, the company opened its first retail store Disney Store in Glendale in 1987. Because of its success,
13930-613: The Wind ". Pixar's and Disney's first co-release was the first-ever fully computer-generated film Toy Story , which was released on November 19, 1995, to critical acclaim and an end-run gross total of $ 361 million. The film won the Special Achievement Academy Award and was the first animated film to be nominated for Best Original Screenplay . In 1995, Disney announced the $ 19 billion acquisition of television network Capital Cities/ABC Inc., which
14129-526: The World (1975). In late 1959, Walt had an idea to build another park in Palm Beach, Florida , called the City of Tomorrow, a city that would be full of technological improvements. In 1964, the company chose land southwest of Orlando, Florida to build the park and acquired 27,000 acres (10,927 ha). On November 15, 1965, Walt, along with Roy and Florida's governor Haydon Burns , announced plans for
14328-436: The animated film The Jungle Book , which was 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 animation, but made several live-action films. Its animation staff declined from 500 to 125 employees, with the company only hiring 21 people from 1970 to 1977. Disney's first post-Walt animated film The Aristocats
14527-410: The animation program at CalArts and trained by Eric Larson, Frank Thomas, Ollie Johnston and Woolie Reitherman, got their first chance to prove themselves as a group with the animated sequences in Disney's live-action/animated hybrid feature Pete's Dragon (1977), the animation for which was directed by Bluth. In September 1979, dissatisfied with what they felt was a stagnation in the development of
14726-480: The animators created or formalized many of the techniques and processes that became the key tenets and principles of traditional animation. Silly Symphonies such as The Goddess of Spring (1934) and The Old Mill (1937) served as experimentation grounds for new techniques such as the animation of realistic human figures, special effects animation and the use of the multiplane camera , an invention that split animation artwork layers into several planes, allowing
14925-460: The art of animation at Disney, Bluth and several of the other new guard animators quit to start their own studio, Don Bluth Productions , which became Disney's chief competitor in the animation field during the 1980s. Delayed half a year by the defection of the Bluth group, The Fox and the Hound was released in 1981 after four years in production. The film was considered a financial success by
15124-716: The assumption of $ 2.3 billion in debt. The deal included a 76% stake in Fox Kids Europe , Latin American channel Fox Kids , more than 6,500 episodes from Saban Entertainment 's programming library, and Fox Family Channel . In 2001, Disney's operations had a net loss of $ 158 million after a decline in viewership of the ABC television network, as well as decreased tourism due to the September 11 attacks . Disney earnings in fiscal 2001 were $ 120 million compared with
15323-418: The backgrounds. After United Artists attempted to attain future television rights to the Disney shorts, Walt signed a distribution contract with RKO Radio Pictures on March 2, 1936. Walt Disney Productions exceeded its original budget of $ 150,000 for Snow White by ten times; its production eventually cost the company $ 1.5 million. Snow White took 3 years to make, premiering on December 12, 1937. It
15522-607: The board to fire Miller. Roy E. Disney brought in Michael Eisner as Disney's new CEO and Frank Wells as president. Eisner in turn named Jeffrey Katzenberg chairman of the film division, The Walt Disney Studios. Near completion when the Eisner regime took over Disney, The Black Cauldron (1985) came to represent what would later be referred to as the "rock bottom" point for Disney animation. The studio's most expensive feature to that point at $ 44 million, The Black Cauldron
15721-495: The box office and became the highest-grossing first-issue animated film to that point. Katzenberg, Schneider, and Roy Disney set about changing the culture of the studio, increasing staffing and production so that a new animated feature would be released every year instead of every two to four. The first of the releases on the accelerated production schedule was Oliver & Company (1988), which featured an all-star cast including Billy Joel and Bette Midler and an emphasis on
15920-714: The box office, and had laid off a large portion of their hand-drawn animators. However, the studio stated in 2019 and 2023 that they are open to proposals from filmmakers for future hand-drawn feature projects. In addition, in April 2022, Eric Goldberg , one of the studio's hand-drawn animators who has been working with the studio since 1992, confirmed plans within the Disney studio to once again return to hand-drawn animation. Kansas City, Missouri , natives Walt Disney and Roy O. Disney founded Disney Brothers Cartoon Studio in Los Angeles in 1923 and got their start producing
16119-723: The box office. Later, as products of the South American trip, Disney released the features Saludos Amigos (1942) and The Three Caballeros (1944). This was a new strategy of releasing package films , collections of short cartoons grouped to make feature films. Both performed poorly. Disney released more package films through the rest of the decade, including Make Mine Music (1946) , Fun and Fancy Free (1947), Melody Time (1948), and The Adventures of Ichabod and Mr. Toad (1949), to try to recover from its financial losses. Disney began producing less-expensive live-action films mixed with animation, beginning with Song of
16318-453: The box office; it won two Academy Awards; Best Original Score and Best Original Song for " Under the Sea ". During the Disney Renaissance, composer Alan Menken and lyricist Howard Ashman wrote several Disney songs until Ashman died in 1991. Together they wrote 6 songs nominated for Academy Awards; with two winning songs—"Under the Sea" and " Beauty and the Beast ". To produce music geared for
16517-416: The box-office-leading Hollywood studio for the first time, with films such as Who Framed Roger Rabbit (1988), Three Men and a Baby (1987) , and Good Morning, Vietnam (1987). The company's gross revenue went from $ 165 million in 1983 to $ 876 million in 1987, and operating income went from −$ 33 million in 1983 to +130 million in 1987. The studio's net income rose by 66%, along with
16716-498: The camera to appear to move dimensionally through an animated scene. Snow White and the Seven Dwarfs cost Disney a then-expensive sum of $ 1.4 million to complete (including $ 100,000 on story development alone) and was an unprecedented success when released in February 1938 by RKO Radio Pictures , which had assumed distribution of Disney product from United Artists in 1937. It was briefly the highest-grossing film of all time before
16915-532: The character animation on these productions and all subsequent features until the late 1970s was supervised by a brain-trust of animators Walt Disney dubbed the " Nine Old Men ", many of whom also served as directors and later producers on the Disney features: Frank Thomas , Ollie Johnston , Woolie Reitherman , Les Clark, Ward Kimball , Eric Larson , John Lounsbery , Milt Kahl , and Marc Davis . Other head animators at Disney during this period included Norm Ferguson, Bill Tytla and Fred Moore . The development of
17114-410: The clear acetate sheets (" cels ") used in final animation production. The resulting art style – a scratchier line which revealed the construction lines in the animators' drawings – typified Disney films into the 1980s. The film was a success, being the tenth highest-grossing film of 1961 with rentals of $ 6.4 million. The Disney animation training program started at the studio in 1932 before
17313-557: The company $ 3.5 billion to construct. On January 24, 2006, Disney began talks to acquire Pixar from Steve Jobs for $ 7.4 billion, and Iger appointed Pixar chief creative officer (CCO) John Lasseter and president Edwin Catmull the heads of the Walt Disney Animation Studios . A week later, Disney traded ABC Sports commentator Al Michaels to NBCUniversal , in exchange for the rights to Oswald
17512-407: The company after Eisner refused to promote him to president. After leaving, he co-founded film studio DreamWorks SKG . Wells was later replaced with one of Eisner's friends Michael Ovitz on August 13, 1995. In 1994, Disney wanted to buy one of the major U.S. television networks ABC, NBC, or CBS, which would give the company guaranteed distribution for its programming. Eisner planned to buy NBC but
17711-419: The company announced ImageMovers Digital , which it started in partnership with ImageMovers in 2007, would be closing by 2011. 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
17910-528: The company 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, two-and-a-half million watches were sold. As Mickey Mouse become a heroic character rather than a mischievous one, Disney needed another character that could produce gags . Disney invited radio presenter Clarence Nash to the animation studio; Disney wanted to use Nash to play Donald Duck ,
18109-519: The company had been doing. To help with the film division, the company started making Saturday-morning cartoons to create new Disney characters for merchandising, and produced films through Touchstone. Under Eisner, Disney became more involved with television, creating Touchstone Television and producing the television sitcom The Golden Girls , which was a hit. The company spent $ 15 million promoting its theme parks, raising visitor numbers by 10%. In 1984, Disney produced The Black Cauldron , then
18308-402: The company is still headquartered. In April 1940, Disney Productions had its initial public offering , with the common stock remaining with Disney and his family. Disney did not want to go public but the company needed the money. Shortly before Snow White's release, work began on the company's next features, Pinocchio and Bambi . Pinocchio was released in February 1940 while Bambi
18507-565: The company opened two more in California, and by 1990, it had 215 throughout the US In 1989, the company garnered $ 411 million in revenue and made a profit of $ 187 million. In 1987, the company signed an agreement with the Government of France to build a resort named Euro Disneyland in Paris; it would consist of two theme parks named Disneyland Park and Walt Disney Studios Park ,
18706-766: The company since 1938, became its president. By June 30, 1973, Disney had over 23,000 employees and a gross revenue of $ 257,751,000 over a nine-month period, compared to the year before when it made $ 220,026,000. In November, Disney released the animated film Robin Hood (1973), which became Disney's biggest international-grossing movie at $ 18 million. Throughout the 1970s, Disney released live-action films such as The Computer Wore Tennis Shoes ' sequel Now You See Him, Now You Don't ; The Love Bug 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 became CEO of
18905-405: The company started looking for a sponsor for the project, Walt renamed the City of Tomorrow, Experimental Prototype Community of Tomorrow ( Epcot ). Walt, who had been a heavy smoker since World War I, fell very sick and he died on December 15, 1966, aged 65, of lung cancer , at St. Joseph Hospital across the street from the studio. In 1967, the last two films Walt had worked on were released;
19104-406: The company was being run, calling on Eisner to retire; the same week, board member Stanley Gold retired for the same reasons. Gold and Disney formed the "Save Disney" campaign. In 2004, at the company's annual meeting, the shareholders in a 43% vote voted Eisner out as chairman. On March 4, George J. Mitchell , who was a member of the board, was named as replacement. In April, Disney purchased
19303-489: The company's attention. Disney, which since 1996 had owned a 25% stake in the Major League Baseball team California Angels , bought out the team in 1998 for $ 110 million, renamed it Anaheim Angels and renovated the stadium for $ 100 million. Hercules (1997) was released on June 13, and underperformed compared to earlier films, grossing $ 252 million. On February 24, Disney and Pixar signed
19502-476: The company's film and television production divisions, creating the Walt Disney Pictures banner under which future films from the feature animation department would be released. After a series of corporate takeover attempts in 1984, Roy E. Disney , son of Roy O. and nephew of Walt, resigned from the company's board of directors and launched a campaign called "SaveDisney", successfully convincing
19701-466: The company's next animated film The Hunchback of Notre Dame was released, grossing $ 325 million at the box office. Because Ovitz's management style was different from Eisner's, Ovitz was fired as the company's president in 1996. Disney lost a $ 10.4 million lawsuit in September 1997 to Marsu B.V. over Disney's failure to produce as contracted 13 half-hour Marsupilami cartoon shows. Instead, Disney felt other internal "hot properties" deserved
19900-418: The company's other divisions. Its current name was adopted in 2006 after Pixar Animation Studios was acquired by Disney. For many people, Disney Animation is synonymous with animation, for "in no other medium has a single company's practices been able to dominate aesthetic norms" to such an overwhelming extent. The studio was recognized as the premier American animation studio for much of its existence and
20099-454: The company's profits were from its theme parks; in 1982, there were 12 million visitors to Walt Disney World, a figure that declined by 5% the following June. On July 9, 1982, Disney released Tron , one of the first films to extensively use computer-generated imagery (CGI). It was a big influence on other CGI movies, though it received mixed reviews. In 1982, the company lost $ 27 million. On April 15, 1983, Disney's first park outside
20298-403: The company, with Tatum remaining chairman until 1980, when Walker replaced him. In 1977, Roy E. Disney , Roy O. Disney's son and the only Disney working for the company, resigned as an executive because of disagreements with company decisions. In 1977, Disney released the successful animated film The Rescuers , which grossed $ 48 million. The live-acton/animated musical Pete's Dragon
20497-487: The confidential proxy voting information of clients. ISS was highlighted in a 2014 opinion piece in the New York Times by Cornell University law professor Lynn Stout as having an outsized power in the selection of CEOs of major corporations in the United States with ramifications for the U.S. economy. It was owned by MSCI until April 30, 2014 when it was purchased by Vestar Capital Partners . Ethix SRI Advisors
20696-620: The cruises, Disney bought Gorda Cay as the line's private island, and spent $ 25 million remodeling it and renaming it Castaway Cay. On July 30, 1998, Disney Magic set sail as the line's first voyage. Marking the end of the Disney Renaissance, Tarzan (1999) was released on June 12, garnering $ 448 million at the box office and critical acclaim; it claimed the Academy Award for Best Original Song for Phil Collins ' " You'll Be in My Heart ". Disney-Pixar film Toy Story 2
20895-448: The day-to-day operations in 1985. On February 6, 1986, Disney executives moved the animation division from the Disney studio lot in Burbank to a variety of warehouses, hangars and trailers located about two miles east (3.2 kilometers) at 1420 Flower Street in nearby Glendale, California . About a year later, the growing computer graphics (CG) group would move there too. The animation division's first feature animation at its new location
21094-526: The deal was canceled because General Electric wanted to keep a majority stake. In 1994, Disney's annual revenue reached $ 10 billion, 48% coming from film, 34% from theme parks, and 18% from merchandising. Disney's total net income was up 25% from the previous year at $ 1.1 billion. Grossing over $ 346 million, Pocahontas was released on June 16, garnering the Academy Awards for Best Musical or Comedy Score and Best Song for " Colors of
21293-491: The deal was completed, resulting in the companies terminating merger negotiations. On November 17, 1989, Disney released The Little Mermaid , which was the start of the Disney Renaissance , a period in which the company released hugely successful and critically acclaimed animated films. The Little Mermaid became the animated film with the highest gross from its initial run and garnered $ 233 million at
21492-632: The development of Snow White eventually led to Walt Disney helping found the California Institute of the Arts (CalArts) . This university formed via the merger of Chouinard Art Institute and the Los Angeles Conservatory of Music. It included a Disney-developed animation program of study among its degree offerings. CalArts became the alma mater of many of the animators who would work at Disney and other animation studios from
21691-503: The end of 1935, beginning with the Silly Symphony short Flowers and Trees (1932). The film was the first full-color cartoon and won the Academy Award for Best Cartoon. In 1933, The Three Little Pigs , another popular Silly Symphony short, was released and also won the Academy Award for Best Cartoon. The song from the film " Who's Afraid of the Big Bad Wolf? ", which was composed by Frank Churchill —who wrote other Silly Symphonies songs—became popular and remained so throughout
21890-505: The feature animation department created a caste system at the Disney studio: lesser animators (and feature animators in-between assignments) were assigned to work on the short subjects, while animators higher in status such as the Nine Old Men worked on the features. Concern over Walt Disney accepting credit for the artists' work as well as debates over compensation led to many of the newer and lower-ranked animators seeking to unionize
22089-521: The feature animation studio and outsourcing future animation. Roy E. Disney intervened, offering to head the feature animation division and turn its fortunes around, while Eisner established the Walt Disney Pictures Television Animation Group to produce lower-cost animation for television. Named Chairman of feature animation by Eisner, Roy E. Disney appointed Peter Schneider president of animation to run
22288-503: The film industry, who dubbed the production "Disney's Folly", Disney proceeded undaunted into the production of Snow White and the Seven Dwarfs , which would become the first animated feature in English and Technicolor. Considerable training and development went into the production of Snow White and the Seven Dwarfs and the studio greatly expanded, with established animators, artists from other fields and recent college graduates joining
22487-433: The film's final original box office take varying between $ 1.4 million and $ 1.9 million. However, Pinocchio was a critical success, winning the Academy Award for Best Original Song and Best Original Score , making it the first film of the studio to win not only either Oscar, but both at the same time. Fantasia , an experimental film produced to an accompanying orchestral arrangement conducted by Leopold Stokowski ,
22686-500: The first Disney Channel film to do so. Disney's 2006 live-action film Pirates of the Caribbean: Dead Man's Chest was Disney's biggest hit to that date and the third-highest-grossing film ever, making $ 1 billion at the box office. On June 28, the company announced it was replacing George Mitchell as chairman with a board members and former CEO of P&G John E. Pepper Jr. . The sequel High School Musical 2
22885-437: The first commercial film to be shown in stereo . However, Fantasia similarly performed poorly at the box office. In 1941, the company experienced a major setback when 300 of its 800 animators, led by one of the top animators Art Babbitt , went on strike for 5 weeks for unionization and higher pay. Walt Disney publicly accused the strikers of being party to a communist conspiracy, and fired many of them, including some of
23084-421: The first one being Toy Story . Dow Jones & Company , wanting to replace 3 companies in its industrial average , chose to add Disney in May 1991, stating Disney "reflects the importance of entertainment and leisure activities in the economy". Disney's next animated film Beauty and the Beast was released on November 13, 1991, and grossed nearly $ 430 million. It was the first animated film to win
23283-583: The first season, over ten million children and five million adults watched it daily; and two million Mickey Mouse ears, which the cast wore, were sold. In December 1954, the five-part miniseries Davy Crockett , premiered as part of Disneyland , starring Fess Parker . According to writer Neal Gabler , "[It] became an overnight national sensation", selling 10 million Crockett coonskin caps. The show's theme song " The Ballad of Davy Crockett " became part of American pop culture, selling 10 million records. Los Angeles Times called it "the greatest merchandising fad
23482-433: The highly successful Disney Renaissance period of animation in the 1990s. In 2005, under new CEO Bob Iger , the company continued to expand into a major entertainment conglomerate with the acquisitions of Pixar , Marvel Entertainment , Lucasfilm , and 21st Century Fox . In 2020, Bob Chapek became the head of Disney after Iger's retirement. However, Chapek was ousted in 2022 and Iger was reinstated as CEO. The company
23681-402: The kids, we lose everything". The studio began the 1970s with the release of The Aristocats , the last film project to be approved by Walt Disney. In 1971, Roy O. Disney, the studio co-founder, died and Walt Disney Productions was left in the hands of Donn Tatum and Card Walker , who alternated as chairman and CEO in overlapping terms until 1978. The next feature, Robin Hood (1973),
23880-412: The latter becoming the third-highest-grossing animated feature film of all time . It also had the highest-grossing worldwide opening of all time for an animated feature film up until the release of Nintendo and Illumination 's The Super Mario Bros. Movie (2023). By 2013, the studio had no hand-drawn animated features in development as a result of their computer animated films performing better at
24079-561: The live action/animation musical film Mary Poppins was released to major commercial success and rapturous critical acclaim, becoming the year's highest-grossing film and winning 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's " Chim Chim Cher-ee ". Throughout the 1960s, Dean Jones , whom The Guardian called "the figure who most represented Walt Disney Productions in
24278-486: The live-action Alice in Wonderland and the Disney-Pixar film Toy Story 3 , both of which grossed a little over $ 1 billion, making them the sixth-and-seventh films to do so; and Toy Story 3 became the first animated film to make over $ 1 billion and the highest-grossing animated film. That year, Disney became the first studio to release two $ 1-billion-dollar-earning films in one calendar year. In 2010,
24477-473: The main output accompanied by cartoons starring Mickey Mouse, Figaro and, in the 1950s, Chip 'n' Dale and Humphrey the Bear . In addition, Disney began reissuing the previous features, beginning with re-releases of Snow White in 1944, Pinocchio in 1945, and Fantasia in 1946. This led to a tradition of reissuing the Disney films every seven years, which lasted into the 1990s before being translated into
24676-587: The mainstream, including music for movie soundtracks, Disney founded the recording label Hollywood Records on January 1, 1990. In September 1990, Disney arranged for financing of up to $ 200 million by a unit of Nomura Securities for Interscope films made for Disney. On October 23, Disney formed Touchwood Pacific Partners , which replaced the Silver Screen Partnership series as the company's movie studios' primary source of funding. Disney's first animated sequel The Rescuers Down Under
24875-406: The midst of the animators' strike, premiered in October 1941 and proved to be a financial success. The film cost $ 950,000 to produce, half the cost of Snow White and the Seven Dwarfs , less than a third of the cost of Pinocchio , and two-fifths of the cost of Fantasia . Dumbo eventually grossed $ 1.6 million during its original release. Dumbo was the first Disney animated film to be completed at
25074-462: The most-expensive animated movie at $ 40 million, their first animated film to feature computer-generated imagery, and their first PG-rated animation because of its adult themes. The film was a box-office failure, leading the company to move the animation department from the studio in Burbank to a warehouse in Glendale, California . The film-financing partnership Silver Screen Partners II, which
25273-603: The most-watched live broadcast to that date. While the park's opening day was disastrous (restaurants ran out of food, the Mark Twain Riverboat began to sink, other rides malfunctioned, and the drinking fountains were not working in the 100 °F. (38 °C) heat), the park became a success with 161,657 visitors in its first week and 20,000 visitors a day in its first month. After its first year, 3.6 million people had visited, and after its second year, four million more guests came, making it more popular than
25472-407: The names Walt Disney Studio and Walt Disney Productions before changing it to its current name in 1986. In 1928, Disney established itself as a leader in the animation industry with the short film Steamboat Willie . The film used synchronized sound to become the first post-produced sound cartoon, and popularized Mickey Mouse , who became Disney's mascot and corporate icon. After becoming
25671-445: The next 4 years, Winkler handed the role of distributing the studio's shorts to her husband, Charles Mintz . In 1927, Mintz asked for a new series, and Disney created his first series of fully animated shorts, starring a character named Oswald the Lucky Rabbit . The series was produced by Winkler Pictures and distributed by Universal Pictures . The Walt Disney Studios completed 26 Oswald shorts. In 1928, Disney and Mintz entered into
25870-610: The next five years through Touchstone Pictures, with Disney getting 10% of the gross. The 2009 film Up garnered Disney $ 735 million at the box office, and the film won Best Animated Feature at the Academy Awards. Later that year, Disney launched a television channel named Disney XD , aimed at older children. The company bought Marvel Entertainment and its assets for $ 4 billion in August, adding Marvel's comic-book characters to its merchandising line-up. In September, Disney partnered with News Corporation and NBCUniversal in
26069-434: The only top animator to remain with the Disney brothers. Disney and Iwerks replaced Oswald with a mouse character originally named Mortimer Mouse , before Disney's wife urged him to change the name to Mickey Mouse . In May 1928, Mickey Mouse debuted in test screenings of the shorts Plane Crazy and The Gallopin' Gaucho . Later that year, the studio produced Steamboat Willie , its first sound film and third short in
26268-502: The original Animation Building of the Walt Disney Studios (Walt Disney Productions) in Burbank, California . In August 1942, Bambi was released and, as with Pinocchio and Fantasia , did not perform well at the box office. Out of its $ 1.7 million budget, it grossed $ 1.64 million. Production of full-length animated features was temporarily suspended after the release of Bambi . Given the financial failures of some of
26467-404: The park, whose construction costs totaled $ 17 million. In October, with the success of Disneyland, ABC allowed Disney to produce The Mickey Mouse Club , a variety show for children; the show included a daily Disney cartoon, a children's newsreel, and a talent show. It was presented by a host, and talented children and adults called "Mousketeers" and "Mooseketeers", respectively. After
26666-612: The park. Construction began in July 1954. To finance the construction of Disneyland, Disney sold his home at Smoke Tree Ranch in Palm Springs and the company promoted it with a television series of the same name aired on ABC . The Disneyland television series, which would be the first in a long-running series of successful anthology television programs for the company, was a success and garnered over 50% of viewers in its time slot, along with praise from critics. In August, Walt formed another company Disneyland, Inc. to finance
26865-537: The previous year's $ 920 million. To help reduce costs, Disney announced it would lay off 4,000 employees and close 300–400 Disney stores. After winning the World Series in 2002 , Disney sold the Anaheim Angels for $ 180 million in 2003. In 2003, Disney became the first studio to garner $ 3 billion in a year at the box office. The same year, Roy Disney announced his retirement because of how
27064-433: The production of new animated features, the first of which was Pinocchio , released in February 1940. Pinocchio was not initially a box office success. The box office returns from the film's initial release were below both Snow White 's unprecedented success and the studio's expectations. Of the film's $ 2.289 million cost – twice of Snow White – Disney recouped $ 1 million by late 1940, with studio reports of
27263-491: The recent features and World War II cutting off much of the overseas cinema market, the studio's financiers at the Bank of America would only loan the studio working capital if it temporarily restricted itself to shorts production. Features then in production such as Peter Pan , Alice in Wonderland and Lady and the Tramp were therefore put on hold until after the war. Following the United States' entry into World War II after
27462-730: The release of Steamboat Willie at the Colony Theater in New York, Mickey Mouse became an immensely popular character. Disney Brothers Studio made several cartoons featuring Mickey and other characters. In August 1929, the company began making the Silly Symphony series with Columbia Pictures as the distributor, because the Disney brothers felt they were not receiving their share of profits from Powers. Powers ended his contract with Iwerks, who later started his own studio. Carl W. Stalling played an important role in starting
27661-488: The same time in 1988, Disney started entering into Australia's long-standing animation industry by purchasing Hanna-Barbera 's Australian studio to start Disney Animation Australia . While Oliver & Company and the next feature The Little Mermaid were in production, Disney collaborated with Steven Spielberg's Amblin Entertainment and master animator Richard Williams to produce Who Framed Roger Rabbit ,
27860-472: The same year, The Lion King was released and was a massive success, becoming the second-highest-grossing film of all time behind Jurassic Park and the highest-grossing animated film of all time, with a gross total of $ 969 million. It was critically praised and garnered two Academy Awards—Best Score and Best Song for " Can You Feel the Love Tonight ". Soon after its release, Katzenberg left
28059-605: The second theme park in Walt Disney World, with around 10,000 people in attendance during the opening. The park cost over $ 900 million to construct, and consisted of the Future World pavilion and World Showcase representing Mexico, China, Germany, Italy, America, Japan, France, the UK, and Canada; Morocco and Norway were added in 1984 and 1988, respectively. The animation industry continued to decline and 69% of
28258-465: The series, and composed the music for early films but left the company after Iwerks' departure. In September, theater manager Harry Woodin requested permission to start a Mickey Mouse Club at his theater the Fox Dome to boost attendance. Disney agreed, but David E. Dow started the first-such club at Elsinore Theatre before Woodin could start his. On December 21, the first meeting at Elsinore Theatre
28457-432: The shares, forced out CEO Miller and replaced him with Michael Eisner , a former president of Paramount Pictures , and appointed Frank Wells as president. Eisner's first act was to make it a major film studio, which at the time it was not considered. Eisner appointed Jeffrey Katzenberg as chairman and Roy E. Disney as head of animation. Eisner wanted to produce an animated film every 18 months rather than four years, as
28656-414: The shorts division was shut down in 1956. After that, all future shorts were produced by the feature films division until 1969. The last Disney short of the golden age of animation was It's Tough to Be a Bird . Disney shorts would only be produced on a sporadic basis from this point on, with notable later shorts including Runaway Brain (1995, starring Mickey Mouse) and Paperman (2012). Despite
28855-500: The stocks. He offered to buy 49% for $ 1.3 billion or the entire company for $ 2.75 billion. Disney, which had less than $ 10 million, rejected Steinberg's offer and offered to buy all of his stock for $ 326 million. Steinberg agreed, and Disney paid it all with part of a $ 1.3 billion bank loan, putting the company $ 866 million in debt. In 1984, shareholders Roy E. Disney, Sid Bass , Lillian and Diane Disney , and Irwin L. Jacobs —who together owned about 36% of
29054-607: The stop-motion The Nightmare Before Christmas (1993), a live-action adaptation of Alice in Wonderland (2010), and a stop-motion feature remake of Frankenweenie (2012). Bird was also fired after a few years working at the company for criticizing Disney's upper management as he felt that they were playing it safe and not taking risks on animation. He subsequently became an animation director at other studios, including Warner Bros. Animation and Pixar. Ron Miller , Walt Disney's son-in-law, became president of Walt Disney Productions in 1980 and CEO in 1983. That year, he expanded
29253-405: The strip was published in 60 newspapers in the US, and in 20 other countries. After realizing releasing merchandise based on the characters would generate more revenue, a man in New York offered Disney $ 300 for license to put Mickey Mouse on writing tablets he was manufacturing. Disney accepted and Mickey Mouse became the first licensed character. In 1933, Disney asked Kay Kamen , the owner of
29452-400: The studio and observe animators at work. That same year, the studio released The Little Mermaid , which became a keystone achievement in Disney's history as its largest critical and commercial success in decades. Directed by John Musker and Ron Clements, who'd been co-directors on The Great Mouse Detective , The Little Mermaid earned $ 84 million at the North American box office, a record for
29651-449: The studio has produced 63 feature films , from Snow White and the Seven Dwarfs (1937) to Moana 2 (2024), and hundreds of short films . Founded as Disney Brothers Cartoon Studio ( DBCS ) in 1923, renamed Walt Disney Studio ( WDS ) in 1926 and incorporated as Walt Disney Productions ( WDP ) in 1929, the studio was dedicated to producing short films until it entered feature production in 1934, resulting in 1937's Snow White and
29850-400: The studio to work on the film. The training classes, supervised by head animators such as Les Clark , Norm Ferguson and Art Babbit and taught by Donald W. Graham , an art teacher from the nearby Chouinard Art Institute , had begun at the studio in 1932 and were greatly expanded into orientation training and continuing education classes. In the course of teaching the classes, Graham and
30049-579: The studio's 4th animated feature Dumbo (1941) on a cheaper budget, which performed well at the box office, infusing the studio with much needed cash. After US entry into World War II, many of the company's animators were drafted into the army. 500 United States Army soldiers occupied the studio for 8 months to protect a nearby Lockheed aircraft plant. While they were there, the soldiers fixed equipment in large soundstages and converted storage sheds into ammunition depots. The United States Navy asked Disney to produce propaganda films to gain support for
30248-412: The studio's animation output was for the military. During the war, Disney produced the live-action/animated military propaganda feature Victory Through Air Power (1943), and a series of Latin culture -themed shorts resulting from the 1941 Good Neighbor trip were compiled into two features, Saludos Amigos (1942) and The Three Caballeros (1944). Saludos Amigos and The Three Caballeros set
30447-432: The studio's best. Roy unsuccessfully attempted to persuade the company's main distributors to invest in the studio, which could no longer afford to offset production costs with employee layoffs. The anthology film The Reluctant Dragon (1941), ran $ 100,000 short of its production cost, contributing to the studio's financial woes. While negotiations to end the strike were underway, Walt and studio animators embarked on
30646-447: The studio's feature films. It was Reitherman who was responsible for a noticeable softening of Disney villains, and over the next two decades, nearly all Disney villains were more comical or pitiful than scary. Reitherman's main priority was ensuring that the studio would continue to turn a profit and towards that end, he stressed the importance of making family-friendly films. According to Andreas Deja , Reitherman said that "if we lose
30845-482: The studio's handling of home video releases. In 1948, Disney returned to the production of full-length features with Cinderella , a feature film based on the fairy tale by Charles Perrault . At a cost of nearly $ 3 million, the future of the studio depended upon the success of this film. Upon its release in 1950, Cinderella proved to be a box-office success, with the profits from the film's release allowing Disney to carry on producing animated features throughout
31044-413: The studio's highest-grossing animated feature since Snow White and the Seven Dwarfs , the film's large production costs and the box office underperformance of Disney's other 1959 output resulted in the studio posting its first annual loss in a decade for fiscal year 1960, leading to massive layoffs throughout the studio. By the end of the decade, the Disney short subjects were no longer being produced on
31243-402: The studio's increasingly diverse portfolio of projects, including live-action films (of which Treasure Island was the studio's first), television and amusement parks . In 1950 the company made its first foray into television when NBC aired " One Hour in Wonderland ", a promotional program for Disney's next animated film, Alice in Wonderland (1951), and sponsored by Coca-Cola . Alice
31442-700: The studio, and development continued on The Black Cauldron , a long-gestating adaptation of the Chronicles of Prydain series of novels by Lloyd Alexander produced in Super Technirama 70. The Black Cauldron was intended to expand the appeal of Disney animated films to older audiences and to showcase the talents of the new generation of Disney animators from CalArts. Besides Keane, Musker and Clements, this new group of artists included other promising animators such as Andreas Deja , Mike Gabriel , John Lasseter , Brad Bird and Tim Burton . Lasseter
31641-488: The studio, from top-level animators such as Art Babbitt and Bill Tytla to artists better known for their work outside the Disney studio such as Frank Tashlin , Maurice Noble , Walt Kelly , Bill Melendez , and John Hubley . Hubley, along with several other Disney strikers, went on to found the United Productions of America studio, Disney's key animation rival in the 1950s. Dumbo , in production during
31840-416: The studio. The film was built around a score from Broadway songwriters Alan Menken and Howard Ashman , who was also a co-producer and story consultant on the film. The Little Mermaid won two Academy Awards, for Best Original Song and Best Original Score . The Little Mermaid vigorously relaunched a profound new interest in the animation and musical film genres. The film was also the first to feature
32039-567: The studio. The final one, in 1923, was entitled Alice's Wonderland and depicted child actress Virginia Davis interacting with animated characters. While Laugh-O-Gram's shorts were popular in Kansas City, the studio went bankrupt in 1923 and Disney moved to Los Angeles, to join his brother Roy O. Disney , who was recovering from tuberculosis . Shortly after Walt's move, New York film distributor Margaret J. Winkler purchased Alice's Wonderland , which began to gain popularity. Disney signed
32238-694: The template for several other 1940s Disney releases of "package films": low-budgeted films composed of animated short subjects with animated or live-action bridging material. These films were Make Mine Music (1946), Fun and Fancy Free (1947), Melody Time (1948) and The Adventures of Ichabod and Mr. Toad (1949). The studio also produced two features, Song of the South (1946) and So Dear to My Heart (1948), which used more expansive live-action stories which still included animated sequences and sequences combining live-action and animated characters. Shorts production continued during this period as well, with Donald Duck , Goofy , and Pluto cartoons being
32437-763: The theme park industry. The company, which has been public since 1940, trades on the New York Stock Exchange (NYSE) with ticker symbol DIS and has been a component of the Dow Jones Industrial Average since 1991. In August 2020, about two-thirds of the stock was owned by large financial institutions. The company celebrated their 100th anniversary on October 16, 2023. In 1921, American animators Walt Disney and Ub Iwerks founded Laugh-O-Gram Studio in Kansas City, Missouri . Iwerks and Disney went on to create short films at
32636-782: The third Mickey Mouse cartoon, Steamboat Willie , became Disney's first cartoon with synchronized sound and was a major success upon its November 1928 debut at the West 57th Theatre in New York City. The Mickey Mouse series of sound cartoons, distributed by Powers through Celebrity Productions, quickly became the most popular cartoon series in the United States. A second Disney series of sound cartoons, Silly Symphonies , debuted in 1929 with The Skeleton Dance . In 1929, disputes over finances between Disney and Powers led to Disney's animation production company, reincorporated on December 16, 1929, as Walt Disney Productions , signing
32835-574: The unprecedented success of Gone with the Wind two years later, grossing over $ 8 million on its initial release, the equivalent of $ 173,163,120 in 1999 dollars. During the production of Snow White , work had continued on the Mickey Mouse and Silly Symphonies series of shorts. Mickey Mouse switched to Technicolor in 1935, by which time the series had added several major supporting characters, among them Mickey's dog, Pluto , and their friends Donald Duck and Goofy . Donald, Goofy, and Pluto would all be appearing in series of their own by 1940, and
33034-438: The use of Disney's Computer Animation Production System (CAPS). Developed for Disney by Pixar, which had grown into a commercial computer animation and technology development company, CAPS/ink-and-paint would become significant in allowing future Disney films to more seamlessly integrate computer-generated imagery and achieve higher production values with digital ink and paint and compositing techniques. The Little Mermaid
33233-428: The war, and with the studio badly in need of profits, Disney agreed, signing a contract for 20 war-related shorts for $ 90,000. Most of the company's employees worked on the project, which spawned films such as Victory Through Air Power , and others which included some of the company's characters. In August 1942, Disney released its fifth feature film, Bambi, after five years in development, and performed poorly at
33432-564: The water park Typhoon Lagoon in June 1989; in 2022 it had 1.9 million visitors and was the most popular water park in the world. Also in 1989, Disney signed an agreement-in-principle to acquire The Jim Henson Company from its founder. The deal included Henson's programming library and Muppet characters —excluding the Muppets created for Sesame Street —as well as Henson's personal creative services. Henson, however, died in May 1990 before
33631-561: The works of United Productions of America (UPA), whose flat art style and stylized animation techniques were lauded as more modern alternatives to the older Disney style. During the 1950s, only one Disney short, the stylized Toot, Whistle, Plunk and Boom , won the Best Short Subject (Cartoons) Oscar. The Mickey Mouse , Pluto and Goofy shorts had all ceased regular production by 1953, with Donald Duck and Humphrey continuing and converting to widescreen CinemaScope before
33830-402: The world had ever seen". In June 1955, Disney's 15th animated film Lady and the Tramp was released and performed better at the box office than any other Disney films since Snow White . Disneyland opened on July 17, 1955; it was a major media event, broadcast live on ABC with actors Art Linkletter , Bob Cummings , and Ronald Reagan hosting. It garnered over 90 million viewers, becoming
34029-536: The years. Despite its financial failure, Fantasia was the subject of two Academy Honorary Awards on February 26, 1942 – one for the development of the innovative Fantasound system used to create the film's stereoscopic soundtrack, and the other for Stokowski and his contributions to the film. Fantasia was the final Disney animated film to be completed at the Hyperion Studio of the Walt Disney Studios (Walt Disney Productions) in Los Angeles. Much of
34228-464: Was The Great Mouse Detective (1986), begun by John Musker and Ron Clements as Basil of Baker Street after both left production of The Black Cauldron . The film was enough of a critical and commercial success to instill executive confidence in the animation studio. Later the same year, however, Universal Pictures and Steven Spielberg 's Amblin Entertainment released Don Bluth's An American Tail , which outgrossed The Great Mouse Detective at
34427-420: Was "for many decades the undisputed world leader in animated features"; it developed many of the techniques, concepts and principles that became standard practices of traditional animation . The studio also pioneered the art of storyboarding , which is now a standard technique used in both animated and live-action filmmaking, as well as television shows and video games. The studio's catalog of animated features
34626-412: Was Walt's dream. EPCOT became less the City of Tomorrow, and more another amusement park. After 18 months of construction at a cost of 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, 4,000 Disney entertainers, and
34825-427: Was a critical and commercial failure. The film's $ 21 million box office gross led to a loss for the studio, putting the future of the animation division in jeopardy. Between the 1950s and 1980s, the significance of animation to Disney's bottom line was significantly reduced as the company expanded into further live-action production, television and theme parks. As new CEO, Michael Eisner strongly considered shuttering
35024-491: Was a response to other Science fiction films of the era. In September, 12 animators, which was over 15% of the department, resigned. Led by Don Bluth , they left because of a conflict with the training program and the atmosphere, and started their own company Don Bluth Productions . In 1981, Disney released Dumbo to VHS and Alice in Wonderland the following year, leading Disney to eventually release all its films on home media. On July 24, Walt Disney's World on Ice ,
35223-436: Was an immediate critical and commercial success, becoming the highest-grossing film up to that point, grossing $ 8 million (equivalent to $ 169,555,556 in 2023 dollars); after re-releases, it grossed a total of $ 998,440,000 in the US adjusted for inflation. Using the profits from Snow White , Disney financed the construction of a new 51-acre studio complex in Burbank , which the company fully moved into in 1940 and where
35422-478: Was attended by around 1,200 children. On July 24, 1930, Joseph Conley, president of King Features Syndicate , wrote to the Disney studio and asked the company to produce a Mickey Mouse comic strip; production started in November and samples were sent to King Features. On December 16, 1930, the Walt Disney Studios partnership was reorganized as a corporation with the name Walt Disney Productions, Limited, which had
35621-470: Was expected to do well, the company lost $ 48 million after its first year, with around 916,000 subscribers. In 1983, Walt's son-in-law Ron W. Miller , who had been president since 1978, became its CEO, and Raymond Watson became chairman. Miller wanted the studio to produce more content for mature audiences, and Disney founded film distribution label Touchstone Pictures to produce movies geared toward adults and teenagers in 1984. Splash (1984)
35820-411: Was financially unsuccessful, falling $ 1 million short of the production budget. In February 1953, Disney's next animated film Peter Pan was released to financial success; it was the last Disney film distributed by RKO after Disney ended its contract and created its own distribution company Buena Vista Distribution . According to Walt, he first had the idea of building an amusement park during
36019-568: Was fired from Disney in 1983 for pushing the studio to explore computer animation production, but went on to become the creative head of Pixar , a pioneering computer animation studio that would begin a close association with Disney in the late 1980s. Similarly, Burton was fired in 1984 after producing a live-action short shelved by the studio, Frankenweenie , then went on to become a high-profile producer and director of live-action and stop-motion features for Disney and other studios. Some of Burton's high-profile projects for Disney would include
36218-598: Was formed in 1952 to design and construct the park. Drawing inspiration from amusement parks in the US and Europe, Walt approached the design of Disneyland with an emphasis on thematic storytelling and cleanliness, innovative approaches for amusement parks of the time. The plan to build the park in Burbank was abandoned when Walt realized 8 acres would not be enough to accomplish his vision. Disney acquired 160 acres (65 ha) of orange groves in Anaheim , southeast of LA in neighboring Orange County , at $ 6,200 per acre to build
36417-563: Was key in renewing mainstream interest in American animation. Other than the film itself, the studio also produced three Roger Rabbit shorts during the late 1980s and early 1990s. A second satellite studio, Walt Disney Feature Animation Florida , opened in 1989 with 40 employees. Its offices were located within the Disney-MGM Studios theme park at Walt Disney World in Bay Lake, Florida , and visitors were allowed to tour
36616-459: Was one of the financially successful comedies of the early 1990s, grossing $ 231 million; action film Con Air (1997), which grossed $ 224 million; and the highest-grossing film of 1998 at $ 553 million Armageddon . At Disney World, the company opened Disney's Animal Kingdom , the largest theme park in the world covering 580 acres (230 ha) on Earth Day , April 22, 1998. It had six animal-themed lands, over 2,000 animals, and
36815-402: Was organized in 1985, financed films for Disney with $ 193 million. In January 1987, Silver Screen Partners III began financing movies for Disney with $ 300 million raised by E.F. Hutton , the largest amount raised for a film-financing limited partnership. Silver Screen IV was also set up to finance Disney's studios. In 1986, the company changed its name from Walt Disney Productions to
37014-460: Was postponed. Despite Pinocchio 's critical acclaim (it won the Academy Awards for Best Song and Best Score and was lauded for groundbreaking achievements in animation), the film performed poorly at the box office, due to World War II affecting the international box office. The company's third feature Fantasia (1940) introduced groundbreaking advancements in cinema technology, chiefly Fantasound , an early surround sound system making it
37213-406: Was produced with a significantly reduced budget and animation repurposed from previous features. Both The Aristocats and Robin Hood were minor box office and critical successes. The Rescuers , released in 1977, was a success exceeding the achievements of the previous two Disney features. Receiving positive reviews, high commercial returns, and an Academy Award nomination, it ended up being
37412-606: Was purchased by ISS to help ISS expand into Europe. Ethix was renamed with the acquisition to ISS-Ethix and would lead ISS's sustainable and responsible investment activities. In 2017, ownership of ISS switched to Genstar Capital . In March 2018, ISS also acquired the German ESG rating agency oekom research AG. In November 2020 Deutsche Börse announced the acquisition of a majority in ISS-shares for about 1.5 billion Euro . In September 2015, ISS acquired Ethix SRI Advisors,
37611-664: Was released in 1970; according to Dave Kehr of Chicago Tribune , "the absence of his [Walt's] hand is evident". The following year, the anti-fascist musical Bedknobs and Broomsticks was released and won the Oscar for Best Special Visual Effects . At the time of Walt's death, Roy was ready to retire but wanted to keep Walt's legacy alive; he became the first CEO and chairman of the company. In May 1967, Roy had legislation passed by Florida's legislatures to grant Disney World its own quasi-government agency in an area called Reedy Creek Improvement District . Roy changed Disney World's name to Walt Disney World to remind people it
37810-422: Was released in 1977, grossing $ 16 million in the US and Canada, but was a disappointment to the company. In 1979, Disney's first PG-rated film and most expensive film to that point at $ 26 million The Black Hole was released, showing Disney could use special effects. It grossed $ 35 million, a disappointment to the company, which thought it would be a hit like Star Wars (1977). The Black Hole
38009-650: Was released in 2007 on Disney Channel and broke several cable rating records. In April 2007, the Muppets Holding Company was moved from Disney Consumer Products to the Walt Disney Studios division and renamed the Muppets Studios to relaunch the division. Pirates of the Caribbean: At World's End became the highest-grossing film of 2007 at $ 960 million. Disney-Pixar films Ratatouille (2007) and WALL-E (2008) were
38208-428: Was released in November 1940 by Disney itself in a series of limited-seating roadshow engagements. The film cost $ 2 million to produce and, although the film earned $ 1.4 million in its roadshow engagements, the high cost ($ 85,000 per theater) of installing Fantasound placed Fantasia at a greater loss than Pinocchio . RKO assumed distribution of Fantasia in 1941, later reissuing it in severely edited versions over
38407-634: Was released on November 11, 1992, and grossed $ 504 million, becoming the highest-grossing animated film to that point, and the first animated film to gross a half-billion dollars. It won two Academy Awards—Best Song for " A Whole New World " and Best Score; and "A Whole New World" was the first-and-only Disney song to win the Grammy for Song of the Year . For $ 60 million, Disney broadened its range of mature-audience films by acquiring independent film distributor Miramax Films in 1993. The same year, in
38606-469: Was released on November 13, garnering praise and $ 511 million at the box office. To replace Ovitz, Eisner named ABC network chief Bob Iger Disney's president and chief operating officer in January 2000. In November, Disney sold DIC Entertainment back to Andy Heyward . Disney had another huge success with Pixar when they released Monsters, Inc. in 2001. Later, Disney bought children's cable network Fox Family Worldwide for $ 3 billion and
38805-432: Was released on November 16, 1990, and created using Computer Animation Production System (CAPS), digital software developed by Disney and Pixar —the computer division of Lucasfilm —becoming the first feature film to be entirely created digitally. Although the film struggled in the box office, grossing $ 47 million, it received positive reviews. In 1991, Disney and Pixar agreed to a deal to make three films together,
39004-508: Was the Silly Symphony cartoon Flowers and Trees , the first film commercially released in full Technicolor. Flowers and Trees was a major success and all Silly Symphonies were subsequently produced in Technicolor. By the early 1930s, Walt Disney had realized that the success of animated films depended upon telling emotionally gripping stories that would grab the audience and not let go, and this realization led him to create
39203-547: Was the first film released under the label, and a much-needed success, grossing over $ 6 million in its first week. Disney's first R-rated film Down and Out in Beverly Hills (1986) was released and was another hit, grossing $ 62 million. The following year, Disney's first PG-13 rated film Adventures in Babysitting was released. In 1984, Saul Steinberg attempted to buy out the company, holding 11% of
39402-426: Was the first of a series of blockbusters that would be released over the next decade by Walt Disney Feature Animation, a period later designated by the term Disney Renaissance . The Renaissance era also saw the studio return to making films with darker themes and scarier villains, similar to the films it had made when Walt Disney was still alive. Accompanied in theaters by the Mickey Mouse featurette The Prince and
39601-722: Was then the 2nd-largest corporate takeover in US history. Through the deal, Disney would obtain broadcast network ABC, an 80% majority stake in sports networks ESPN and ESPN 2 , 50% in Lifetime Television , a majority stake of DIC Entertainment , and a 38% minority stake in A&;E Television Networks . Following the deal, the company started Radio Disney , a youth-focused radio program on ABC Radio Network , on November 18, 1996. The Walt Disney Company launched its official website disney.com on February 22, 1996, mainly to promote its theme parks and merchandise. On June 19,
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