Now Disney, one of the most significant entertainment companies in the world, turns 100 today. From Disney on Ice events to limited edition Disney 100 merchandise, it's really going all out for its centenary, as you can imagine, because it's potentially big business. But how did this creative powerhouse recently become one of the most polarizing companies in the US? I spoke to Paul Verner, Principal Analyst at Insider Intelligence.
who told me all about Walt Disney's genius. His creative genius is the reason we're talking about 100th anniversary. It was the spark that set everything in motion and really that defined the company for most of its history. It's become something different and bigger in some ways, but it really all started with a mouse. It absolutely did, which is quite incredible, really.
And it's an enormous cultural kingdom that spans the world. Its tentacles are vast. Just talk us through its dominance, really.
Well, it has enormous cultural influence. I mean, we talk about Disney as a competitor to other studios, other animation companies, other entertainment companies. theme parks.
But really, Disney started all of that. And every company that's in those businesses, in some ways, they owe a debt to Disney as the innovator and the pioneer. But today, Disney is really trying to transform its business.
It's trying to pivot to a streaming model, which is not really that the business model is not quite solid yet. I think it's very strong in its theme park business. It's had some rocky times recently in the theatrical business, and it's trying to get out of the TV business, the traditional TV business.
So it's at a crossroads on many fronts, and that's not even talking about all the stuff that surrounds those businesses, which we can get into. But there's a lot going on at Disney. I think the...
100th anniversary is probably not topmost on the minds of executives for all the reasons, you know, because of everything else that's happening. Let's unpack some of the everything else. I mean, you know, Bob Iger had to return as chief executive. He had a stint where he wasn't the boss for a while, but he was brought back into to kind of change, take charge again. Just talk us through the difficulties Disney's has had lately.
Yeah, I mean, you know, they're facing a not so solid economy, global conflicts. It was already enough with the Ukraine war, and now there's another war. They're basically exiting the TV business.
There are existential questions about the streaming model. There's an actor strike that's ongoing, a writer's strike that went on for a long time. There's a sagging stock price.
There's unease about corporate succession. And then you have these political minefields that Disney has found itself mired in in the past maybe year, year and a half. So there's a lot.
I don't know if I missed anything, but that would be plenty. As you say, there's an awful lot going on. And yet we all remember, we all grew up with Disney as children.
We all watched those movies, didn't we? We all love, I would say, Mickey Mouse. We have to celebrate 100 years of Disney, despite all the difficulties it's in currently, don't you?
Yeah. And, you know, the company could easily be around for another 100 years if they can navigate some of these tricky times. You know, some of this is cyclical.
It will pass. And a lot of this is stuff that Disney and all of its competitors face. So it's not just Disney being singled out.
Paul Verner there. From insider intelligence talking us through the birthday of Disney, a hundred years old.