Walt Disney Company: A Legacy of Storytelling and Entertainment

The Walt Disney Company is the best and biggest in the entertainment business. This behemoth of the entertainment industry has operations worldwide and a market cap of a whopping 312 billion dollars. It was and always has remained the mission of The Walt Disney Company to entertain people with amazing stories that have to inspire people across generations.

The Power of Storytelling and Entertainment

The company’s products in the global media, entertainment, and theme park industries are fascinating and fueled by the art of storytelling. The cultural aspect of storytelling facilitates employee activities that add value to services.
For example, employees are encouraged to use their personal experiences to make the company’s entertainment services more memorable to consumers as part of the corporate culture. This cultural trait is visible in the company’s films and TV programmes.

Disney is known for its outstanding entertainment culture. Customers in the mass media, entertainment, and theme park markets are served by the company’s market divisions, which are strategically managed to maintain the highest levels of excellence.
The Walt Disney Company’s corporate mission and vision statements, which strive for leadership in delivering entertainment and related goods, are the foundation for its corporate culture. Employees, also known as “cast members,” are motivated by Disney’s cultural traits, and this shows in the entertainment experiences that consumers (referred to as “guests” by Disney) receive.

Strengthening its Legacy

Disney was always in the business of storytelling. The storytelling became better through the various immersive platforms and the wonderful technology they have invested in ahead of time.
With the acquisition of 71 Billion dollars’ worth of 21st Century Fox’s media assets, Disney has access to some of the most loved characters and franchises that include X-men, Deadpool, and Fantastic Four. Disney’s legacy of lovable and relatable characters and powerful storytelling has strengthened with this new acquisition.

Strength in People

What makes Disney stand out isn’t just the stories or its acquisition but the people inside who make the stories come alive. The Walt Disney Company ranked fourth on the Forbes list of the world’s best employers in 2018. The company earned high scores in various categories, including product and service quality, global competitiveness, human resource management, social responsibility, and long-term investment performance.

Perhaps one of the biggest reasons for this ranking is the recently launched Disney Aspire. Disney Aspire is a revolutionary initiative that offers hourly workers access to a range of education opportunities, including high school completion, English language learning, technical and trade programmes, and college education. More than 80,000 cast members and staff are expected to benefit from the ongoing scheme, showing the company’s growth-oriented approach to human resource management.

Facing the Adversity

The Walt Disney Company and its entire staff and cast members had a challenging year in 2020. The parks, merchandise, and film and TV divisions all lost billions of dollars. Despite this, the company could survive the pandemic thanks to its streaming service. Disney+ is gaining market traction throughout the pandemic.

Strong Leadership

Unconventional situations call for experienced leaders to make some challenging decisions with the support of a professional core management team. Bob Chapek, who assumed the role of CEO in February of 2020, faced a challenging situation after just a month of his commencement in office when Disneyland and Disney World had to be closed. Indeed, this was a huge blow as the two theme parks form a significant chunk of Disney’s revenue. But under the strong leadership of Chapek, the Walt Disney Company continued benefits to its “cast members” while suspending capital projects and cutting down on expenses.

Chapek’s nearly three decades at Disney were marked by growth and development. Starting as the marketing director of Disney’s Buena Vista Home Entertainment division, Chapek rose to become the president of the division and later of the distribution side of Walt Disney Studios. A defining element about his growth in the company is his innovative business models that brought Disney’s home entertainment division into the digital age.

The Future Ahead for Disney

With the primary business revolving around its amusement parks, the future of the Walt Disney Company lies in their newly created streaming platform Disney+. The platform has a phenomenal subscriber base of 95 million worldwide, making it a viable growth opportunity.

Disney is considering expanding its streaming services in countries including Japan, Eastern Europe, South Korea, and Hong Kong. Regardless, the company’s focus on its amusement parks is not changing anytime soon, with constant additions of new attractions in their existing parks and building a new one. With bright prospects for the future, it is safe to say that Disney’s legacy of entertainment and storytelling is looking at abundant growth and lots of fun times for every individual across the world.