Disney's new heights
The entertainment empire
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Simulated image of enchanted storybook castles in Shanghai Disney Resort. [Photo provided to China Daily] |
The magic of Disneyland Parks and Resorts is not only about cartoon characters or adventure facilities, but they also connect with Disney's various entertainment businesses, Staggs said. Over the years, The Walt Disney Co has grown into a business empire with units ranging from entertainment, parks and resorts to consumer products.
Among them, Disney's films serve as the opportunity to explore new themes in the parks while merging people deeper into the stories they encounter, Staggs said.
During the tenure of Bob Iger, chairman and CEO of The Walt Disney Co, Disney has reached a total shareholder return of 193 percent and a market capitalization that has risen to $113.7 billion from $48.4 billion in 2005, when Iger became CEO, said Orin C. Smith, independent lead director of the Disney board of trustees.
With the acquisitions of Pixar, Marvel and Lucasfilm, major investments in the company's parks and resorts and an expansion into key international markets, Disney has focused its next chapter of growth in technology.
"Technology informs all of our creative businesses," said Iger. "You don't succeed nor survive unless you are capable of adapting to new technology and adopting technology in every aspect of how the company runs."
Iger said new technology is creating new venues by which Disney can reach consumers and new ways that consumers consume intellectual property. In terms of future growth, aside from creating more intellectual properties and growing internationally, it is also important to create new content, he said, citing Youtube as an example.
"We have to participate in these kinds of growth. We don't have to acquire any more to achieve that. We have to make sure we have infused our creative talent with the mandate to tell our stories through these new platforms."
On the international market, borders have been broken down because of new technology, he said.
In talking about the company's television division, Iger said it is important to create locally and to embed talent locally so they understand the people, culture and the government and the market. "We believe in deepening our roots in places around the world such as China, Russia and India," he said. "In order for us to grow the company internationally, we have to do so by organic investment and also by acquisitions."
Iger, who was excited about the park in Shanghai, said, "We are building a future where children in China can grow up dreaming about a trip to Disneyland in Shanghai."
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