A HUNDRED years ago, two brothers set up a company that changed the world. On 16 October 1923 Walt and Roy Disney opened an animation studio in their uncle’s garage in Los Angeles. From that small office, a global empire was born of princesses, elephants, lions, dwarfs – and mice. The studios have produced more than 60 films, won over 100 Oscars and made billions at the box office.
Today it’s possible for a family to spend all its leisure time engaging purely with the company. In addition to streaming and cinema, there are sports channels, 12 theme parks, National Geographic, two record labels and a cruise line.
Yet Disney’s 100th year has been complicated, with several films underperforming at the box office. As it continues to dig into its treasure trove of beloved characters in a bid to reignite the old magic, it’s facing multiple existential challenges. Here are the five big ones.
THE STREAMING SQUEEZE
Disney’s late move into streaming with Disney+ came at the right time – millions were stuck at home with kids during the pandemic. In the summer of 2022, Disney overtook Netflix with 221 million subscribers. Since
