The founder, Walt Disney, once said that as long as there is imagination, Disneyland would
never be finished. Likewise, one could say that as long as there is an entrepreneurial spirit and
innovation, the Disney Company will never be complete. Sheryl Sandberg, COO of Facebook
and a Disney board member suggested that some companies focus on technology and others
focus on content, but Disney focuses on and integrates them both. Disney is perhaps best
known for its cartoon characters (e.g., Mickey Mouse) and its theme parks (e.g., Disneyland and
Disney World). But today, it is much more. For example, during the tenure of the current CEO,
Bob Iger, Disney has acquired Pixar (major animation studio), Marvel entertainment (super
heroes), Lucasfilm (Star Wars) and Magic Bands, among others. And, the company integrates
and builds on the innovative capabilities of all of these highly creative operations.
All of these units and others within Disney are being shaped (or strongly influenced) by novel
technologies. At one of Disney’s five research divisions, Imagineering, new innovations are being
developed and previewed by Iger and others to select the ones that are the most economically
viable. Interestingly, 84 percent of
Disney’s active patents have been
filed since 2005. The novel technol-
ogies are evident in Disney’ various
divisions but most certainly in its
cinematic units (Pixar, Marvel, and
Lucasfilm). Disney works to “cross
pollinate its films to create a cinematic
universe. For example, characters
from one film are used to create
another film that is related but unique
as well. Marvel’s cinematic universe
includes films which have produced
total revenues of $7.2 billion and
include two of the top ten all-time
highest gross revenue producing films.
Disney is continuing to create.
As an example, its Lucasfilm division,
which Disney bought in 2012,
released its new Star Wars epic,
Star Wars: Episode VII—The Force
Awakens in December 2015. And it
has produced Star Wars Rebels, an
animated series aimed at boys, for
Disney’s cable network. Long before
it was acquired by Disney, Lucasfilm
worked hard to build and maintain
its ‘fan communities.’ For example, it
had a head of fan relations holding
biennial meetings, referred to as the
‘Star Wars Celebration,’ that drew as
many as 45,000 people interested in the Star Wars stories and characters. Disney learns from the
businesses it acquires. As an example, Disney now has a head of fan relations for the company.
Pixar has developed several animated movies to be released in 2015 and 2016. Among
them are The Good Dinosaur, Finding Dory (a character from Finding Nemo), Zootopia (an animal
tale), and Moana (a musical set in Polynesia). Each of these stories is unique, creative, and
likely will be highly successful, based on the overwhelmingly successful Frozen, the highest
grossing animated movie of all time, and the also highly successful Big Hero 6. And, Disney
not only makes money from box office sales; it also receives returns from consumer products
(e.g., based on characters from the movies) and related themes and products will be
incorporated in attractions at Disney theme parks.
ENTREPRENEURIAL FERVOR AND INNOVATION
DRIVE DISNEY’S SUCCESSFrazer Harrison/Getty Images