Disney reigns supreme over the film industry

  • 📰 TheEconomist
  • ⏱ Reading Time:
  • 83 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 92%

Business News News

Business Business Latest News,Business Business Headlines

Disney's success owes less to its cinematic brilliance than to shrewd acquisitions

THE WALT DISNEY COMPANY trades in stories of transformation. “Cinderella” tells the tale of a maligned servant turned beloved princess. “Mulan” stars a young woman who becomes a fearsome warrior. “Beauty and the Beast” follows a selfish prince, cursed to take the form of a loathsome creature, who turns back into a royal.

Disney’s own story over the past decade has resembled a fairy-tale. In 2010 the firm claimed 14% of revenue from the North American box office, and became the first film studio to release two $1bn pictures—“Toy Story 3” and “Alice In Wonderland”—in a single year. By 2019 its share of the market had more than doubled, to 34%, according to Comscore, an analytics company .

Last year the studio dominated the box office like a comic-book superhero. It was responsible for eight of the ten highest-grossing films of the year: “Avengers: Endgame”, “The Lion King”, “Frozen II”, “Spider-Man: Far From Home”, “Captain Marvel”, “Toy Story 4”, “Aladdin” and “Star Wars: The Rise of Skywalker”. Seven of them took in over $1bn worldwide . All told, Disney raked in more than $10bn around the world, smashing the record of $7.6bn it set in 2016.

The company’s success owes less to its cinematic brilliance than to shrewd acquisitions. Marvel Studios, which Disney bought in 2009, has produced a string of enormously successful superhero films. “Avengers: Endgame”, released in April, earned a whopping $2.8bn worldwide, making it the highest-grossing film in history. Pixar, which Disney acquired in 2006, was responsible for “Toy Story 4”, the sixth-highest grossing picture last year.

Such eye-watering figures have no doubt caused consternation elsewhere in Hollywood. Warner Bros, Disney’s closest rival, captured just 14% of the North American market in 2019; some industry observers worry about a lack of competition. But 2019 was an unusually brilliant year for Disney. It is unlikely to scale such heights again soon.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

If media IS the message, in Film: shit sells.

.....Disney is a Machine... as PL Travers author of Mary Poppins, allegedly said...nobody ***** with the mouse

None of them really impressed me though

and this is why Disney=Iger

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines