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Assignment 2 for The Media Landscape
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- Universiteit Van Amsterdam (UvA)
This is my Assignment 2 for The Media Landscape for 2020. I got a 8.65 :)
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Course Name: The Media LandscapeTutorial Group Number: 4
Assignment 2
Date : 29/02/2020
Word count : 993
When thinking of the entertainment industry, there’s always one
prominent name that comes up in the minds of most people: the Walt
Disney Company. Disney is currently the largest media conglomerate in
the world (Investopedia, 2020), owning television channels such as the
Disney Channel and ESPN, their own movie production studio as well as
former competitor Pixar, amongst others. They have also recently
launched their own streaming service, Disney+, and acquired the
streaming service Hulu from 21st Century Fox (Disney, n.d.). Outside of the
media industry, they also have their own products, theme parks, resorts
and cruises. In 2019, the company reported a staggering US$69.57 billion
in revenue, of which almost two-thirds came from their media products
(Market Watch, 2019).
The Walt Disney Company claims its mission is to “entertain, inform and
inspire people around the globe through the power of unparalleled
storytelling, reflecting the iconic brands, creative minds and innovative
technologies that make ours the world’s premier entertainment
company.” (Disney, n.d.). The entire company counts with over 220,000
employees and is led by CEO Bob Chapek and Executive Chairman Bob
Iger. The leadership structure also counts with a board of directors with
nine members that manages the company’s long-term values and
fourteen senior executives that control the innovations and products
within the company.
Disney has been a household name for many decades, as it was founded
in 1923. Ever since its creation, the company has had a big focus on
innovation, which can be seen from as early as the release of “Steamboat
, Willie”; released in 1928, it was the first animated film that had
synchronised sound and Mickey Mouse’s debut. From then onwards,
Disney Studios produced and distributed many animated and live action
movies that became an integral part of many generations’ childhoods,
always in line with the most recent technology.
As of late, Disney’s tremendous success has come from mergers and
acquisitions, something they’ve been doing since 1996 when they merged
with the broadcaster ABC. Mergers can be defined as when “two firms of
approximately the same size (…) join forces to move forward as a single
new entity” and acquisitions occur when a company buys another
company which then ceases to exist (Hayes, 2019). The most recent
mergers and acquisitions from Disney have allowed it to prosper greatly in
terms of film production; namely its acquisition of Pixar Studios in 2006,
Marvel Studios in 2009 and Lucasfilm, who produced the Star Wars movie
franchise, in 2012. The Marvel Cinematic Universe (MCU), which at the
time of the acquisition had just begun, became a very prominent part of
recent pop culture, especially the Avengers series. The acquisition of
Lucasfilm also proved to be prosperous as a new Star Wars trilogy, which
was completed at the end of 2019, and other spinoff movies and series
were launched. Furthermore, in early 2019 Disney acquired 21st Century
Fox, getting control to the entertainment portion of 20th Century Fox,
including their movie production studio and their streaming service Hulu.
Additionally, in line with their past with technological innovation, Disney
invested in the content streaming market by launching ESPN+ in 2018
and Disney+ in November 2019. These platforms allow them to compete
with Netflix, the first major content streaming company, as well as other
streaming services like HBO GO and Amazon Prime Video. This allowed
them to maintain their popularity as younger American audiences watch
less and less television (Canales et al., 2018). Their acquisition of 21 st
Century Fox’s Hulu also added to the content they’d be able to stream in
their service.
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