Walt Disney And The Disney Company Essay

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Founded in 1923 by animator Walt Disney and Roy O. Disney, the Walt Disney Company is an “American diversified multinational mass media and entertainment conglomerate”; whose media companies include the Disney Channel, ABC, ESPN, and A&E. Furthermore, they receive revenue from their various theme parks and resorts located around the world, the sale of merchandise related to their various media projects, and their mergers and acquisitions. Notably with Pixar, Marvel, and LucasFilm Ltd. Walt Disney is currently led by, C.E.O. Robert A. Iger and C.F.O. Christine McCarthy. The income statement, for the year 2016 recorded total revenue of $55,632 million, a 6% increase from 2015. Service revenue reached $47,130 million, a 7% increase from 2015. The increase in service revenue came from higher merchandise and game licensing revenue, average guest spending and attendance growth at Walt Disney’s domestic parks and resorts, higher affiliate fees, growth in TV/ subscription video on demand, revenues from the opening of Shanghai Disney Resort, growth in digital distribution of film content, and higher advertising revenue. Product revenue decreased to $8,502 million, 1% lower than the previous year. Walt Disney’s media networks generate revenue from affiliate fees, ad sales, and the sale and distribution of television programming. The parks and resorts of Walt Disney generate revenue from admission sales, food, beverage, and merchandise sales, hotel room charges, and cruise package and

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