The Walt Disney Company

What does Disney own?

Disney owns a portfolio of approximately 20 major consumer-facing brands across media, entertainment, and experiences. Key holdings include Disney+, Hulu, ESPN, ABC, Pixar, Marvel Studios, Lucasfilm (Star Wars), 20th Century Studios, National Geographic, FX, and the Disney Parks and Cruise Line businesses. The company also holds a 70% stake in the combined Fubo and Hulu + Live TV virtual MVPD entity. Disney acquired many of these brands through major transactions, including Pixar ($7.4 billion in 2006), Marvel ($4 billion in 2009), Lucasfilm ($4.05 billion in 2012), and 21st Century Fox ($71.3 billion in 2019).

Is Disney publicly traded?

Yes. The Walt Disney Company trades on the New York Stock Exchange under the ticker symbol DIS. The company has a single class of common stock with equal voting rights for all shares. Disney is a component of the Dow Jones Industrial Average and is widely held by institutional investors including Vanguard Group, BlackRock, and State Street Corporation. The company has paid dividends consistently, with a fiscal 2025 dividend of $1.50 per share and significant share repurchase programs.

Who founded Disney?

The Walt Disney Company was founded on October 16, 1923, by Walt Disney and his brother Roy O. Disney in Los Angeles, California. Walt Disney was the creative force behind the company, directing animation innovation and conceiving the theme park concept. Roy O. Disney was the financial strategist who managed the company's business operations. Walt Disney died in 1966, and Roy O. Disney died in 1971 after completing Walt Disney World in Florida.

Where is Disney headquartered?

Disney is headquartered in Burbank, California, USA. The company's corporate campus, the Walt Disney Studios, has been located in Burbank since 1940. The campus includes the studio lot, corporate offices, and production facilities. Disney also maintains significant operations in New York City (ABC and ESPN), Bristol, Connecticut (ESPN headquarters), Anaheim, California (Disneyland), and Lake Buena Vista, Florida (Walt Disney World).

How many brands does Disney own?

Disney owns approximately 20 major consumer-facing brands across its three operating segments. These include Disney, Disney+, Hulu, ESPN, ABC, Pixar, Marvel, Lucasfilm, 20th Century Studios, Searchlight Pictures, National Geographic, FX, Disney Channel, Disney Parks, Disney Cruise Line, Disney Store, and others. The company also holds a 70% stake in the combined Fubo and Hulu + Live TV entity. The total count depends on how individual cable channels and sub-brands are categorized.

Who owns Disney?

Disney is a publicly traded corporation owned by its shareholders. The largest institutional shareholders are Vanguard Group, BlackRock, and State Street Corporation, each holding significant but non-controlling stakes. No single shareholder or group exercises controlling influence. The board of directors, chaired by Mark Gorman, oversees corporate governance. CEO Josh D'Amaro was appointed by the board effective March 18, 2026, and also serves as a director. There is no founding family control or dual-class share structure.

What is Disney's revenue?

Disney reported fiscal year 2025 revenue of $94.4 billion (fiscal year ended September 27, 2025), up 3% from $91.4 billion in fiscal 2024. Total segment operating income was $17.6 billion, up 12%. Diluted EPS was $6.85, and adjusted EPS was $5.93, up 19%. In Q3 fiscal 2026, Disney reported revenue of $25.2 billion, up 7%, with net income of $2.63 billion. The company targets double-digit adjusted EPS growth in both fiscal 2026 and fiscal 2027.

Has Disney made major acquisitions recently?

Disney's most recent major acquisition was the $71.3 billion purchase of 21st Century Fox, completed in March 2019. In 2024, Disney acquired Comcast's 33% stake in Hulu for approximately $5.8 billion. In 2025, Disney combined its Hulu + Live TV business with Fubo, taking a 70% stake in the combined entity. No new major acquisitions have been announced under CEO Josh D'Amaro as of July 2026, though the company continues to invest in content and theme park expansion.

The Walt Disney Company was founded on October 16, 1923, by Walt Disney and his brother Roy O. Disney in Los Angeles, California. The brothers signed a contract with M.J. Winkler to produce a series of animated short films called the Alice Comedies, which combined live action with animation. The company was originally named the Disney Brothers Cartoon Studio, later renamed Walt Disney Studio in 1926, and incorporated as Walt Disney Productions in 1929.

The first major breakthrough came in 1928 with the creation of Mickey Mouse in "Steamboat Willie," the first animated short with synchronized sound. The character became an immediate cultural phenomenon and established Disney as a brand name. In 1932, Disney produced "Flowers and Trees," the first full-color animated short, which won the first Academy Award for Animated Short Subjects. "The Three Little Pigs" followed in 1933, becoming another major hit during the Great Depression.

Walt Disney took a significant risk in 1937 by producing "Snow White and the Seven Dwarfs," the first full-length animated feature film. The production cost approximately $1.5 million, a staggering sum during the Depression. The film grossed over $8 million in its initial release, validating the feature animation format and providing capital for a new studio complex in Burbank, which opened in 1940 and remains the company's headquarters today.

The 1940s were challenging. World War II reduced international markets, and the studio produced package films and government propaganda to stay solvent. "Pinocchio" and "Fantasia" (both 1940) were critically acclaimed but commercially disappointing compared to "Snow White." "Dumbo" (1941) was made on a reduced budget and returned to profitability. "Bambi" (1942) underperformed initially but became a classic in later re-releases.

The post-war era saw Disney diversify. The company produced its first live-action film, "Treasure Island," in 1950, and launched into television with "Disneyland" on ABC in 1954. The television program served dual purposes: it generated revenue and promoted the upcoming Disneyland theme park. Walt Disney used the show to fund construction of the park by borrowing against his life insurance policy and securing investment from ABC.

Disneyland opened in Anaheim, California, on July 17, 1955. The park was an immediate success, transforming Disney from a film studio into an entertainment experiences company. The theme park business became a permanent second pillar of revenue, distinct from film and television.

Walt Disney died on December 15, 1966, from lung cancer. His brother Roy O. Disney postponed retirement to oversee completion of Walt Disney World in Florida, which opened on October 1, 1971. Roy died in December 1971, leaving the company without either founder. Leadership passed to a series of executives including Donn Tatum, Card Walker, and Ron Miller, who maintained the company's existing businesses but struggled to produce new animated hits through the 1970s and early 1980s.

The arrival of Michael Eisner as CEO in 1984, paired with Frank Wells as president, initiated a period of growth known as the Disney Renaissance. Eisner and Wells expanded theme parks, launched the Disney Channel in 1983, and revitalized feature animation with "The Little Mermaid" (1989), "Beauty and the Beast" (1991), "Aladdin" (1992), and "The Lion King" (1994). The company also expanded into television production through the acquisition of Miramax Films in 1993 for $80 million and the launch of Touchstone Pictures for live-action films targeting adult audiences.

In 1995, Disney acquired Capital Cities/ABC for $19 billion, adding the ABC television network, ESPN (80% stake), and a portfolio of local television stations. This was the largest non-oil merger in U.S. history at the time and transformed Disney into a diversified media conglomerate. The acquisition brought ESPN, which would become one of Disney's most valuable properties and a primary driver of cable television revenue for the next two decades.

Eisner's later years were marked by corporate governance disputes, the Comcast takeover attempt in 2004, and the departure of Pixar partner Steve Jobs. Bob Iger succeeded Eisner as CEO in October 2005. Iger's tenure was defined by three transformative acquisitions.

The first was Pixar Animation Studios, acquired in January 2006 for $7.4 billion in an all-stock transaction. The acquisition brought Pixar's computer animation technology and creative leadership, including John Lasseter and Ed Catmull, under Disney's roof. Pixar had already produced "Toy Story," "Finding Nemo," and "The Incredibles" under a distribution partnership with Disney, but the acquisition secured full ownership of the franchise pipeline.

The second was Marvel Entertainment, acquired in August 2009 for approximately $4 billion. The Marvel acquisition brought a library of more than 5,000 characters, including Iron Man, Captain America, Thor, and the Avengers. The Marvel Cinematic Universe, launched before the acquisition with "Iron Man" (2008), became the highest-grossing film franchise in history, generating over $29 billion in global box office revenue across more than 30 films by 2025.

The third was Lucasfilm, acquired in October 2012 for $4.05 billion. The acquisition added the Star Wars and Indiana Jones franchises to Disney's portfolio. Disney released five Star Wars films between 2015 and 2019, generating over $5.9 billion in global box office revenue, though audience reception varied. The company also invested in Star Wars-themed attractions at its parks, including Galaxy's Edge at Disneyland and Disney's Hollywood Studios.

In March 2019, Disney completed its $71.3 billion acquisition of 21st Century Fox, acquiring the 20th Century Fox film studio, Fox television production studios, cable networks including FX and National Geographic, and Fox's regional sports networks (which were later sold to Sinclair Broadcast Group and others). The Fox acquisition was the largest in Disney's history and was driven by the need to build a streaming content library large enough to compete with Netflix. The acquisition also gave Disney a controlling stake in Hulu, which it later fully acquired by purchasing Comcast's 33% stake for approximately $5.8 billion in 2024.

Disney+ launched on November 12, 2019, reaching 10 million subscribers on its first day. The streaming service was the centerpiece of Iger's strategy to transition Disney from a traditional media company to a direct-to-consumer business. Disney+ reached 100 million subscribers in March 2021, faster than any streaming service in history. However, the streaming business was not profitable in its early years, with operating losses peaking at approximately $4 billion in fiscal 2022.

Iger retired as CEO in February 2020, handing the role to Bob Chapek, who had previously led Disney Parks, Experiences and Products. Chapek's tenure was marked by the COVID-19 pandemic, which forced theme park closures, film release delays, and significant layoffs. Chapek also clashed with creative leaders over film release strategies and faced political controversy over Disney's response to Florida's Parental Rights in Education legislation. The board fired Chapek in November 2022 and brought Iger back as CEO.

Iger's second tenure focused on restructuring the company into three segments (Disney Entertainment, ESPN, and Disney Experiences), cutting $7.5 billion in costs, returning streaming to profitability, and laying the groundwork for CEO succession. Streaming achieved profitability in fiscal 2024, ahead of schedule. Iger also negotiated the combination of Hulu + Live TV with Fubo, which closed in 2025 with Disney holding a 70% stake in the combined entity, and launched ESPN's direct-to-consumer service in August 2025.

On March 18, 2026, Josh D'Amaro became Disney's ninth CEO, succeeding Iger at the company's annual shareholder meeting. D'Amaro, a 28-year Disney veteran who previously led Disney Experiences, outlined three priorities: creative excellence, technology adoption, and a "One Disney" operating model. Dana Walden was named president and chief creative officer. Iger remained as senior advisor and board member until December 31, 2026.

In Q3 fiscal 2026, Disney reported strong results. "Toy Story 5" surpassed $1 billion at the global box office, bringing the five-film franchise total to more than $4 billion. Disney+ and Hulu streaming revenue grew 11% to $5.53 billion with operating income of $712 million. Disney Experiences revenue reached $10 billion. D'Amaro announced that consumer products would move from Disney Experiences to Disney Entertainment starting in fiscal 2027, reflecting the company's ongoing structural evolution.

Disney publishes an annual ESG report detailing its environmental and social commitments. The company has set targets for emissions reduction, waste reduction, and sustainable sourcing across its operations.

On climate, Disney has committed to achieving net zero greenhouse gas emissions for its direct operations (Scope 1 and Scope 2) by 2030. The company has invested in solar power installations at Walt Disney World and Disneyland, and has signed renewable energy agreements in multiple markets. Disney's theme parks and cruise line represent the majority of its direct emissions, given the energy intensity of large-scale attractions and marine operations.

For Scope 3 emissions, which include supply chain and consumer product manufacturing, Disney has set a target to reduce emissions intensity by 2030. The company works with licensees and suppliers to improve manufacturing practices, though Scope 3 reductions are inherently more difficult to verify than direct operations.

Disney is not a Certified B Corporation. The company has not sought B Corp certification, which would require meeting comprehensive social and environmental performance standards verified by B Lab.

On supply chain ethics, Disney maintains a code of conduct for suppliers and conducts audits of manufacturing facilities producing Disney-branded products. The company has faced criticism in the past for labor conditions at supplier factories, particularly in Asia, and has terminated relationships with suppliers found to violate its standards.

The company has also faced scrutiny over its theme park labor practices, including wages for front-line cast members. In 2023, Disney agreed to a $15 minimum wage for workers at Walt Disney World under pressure from union negotiations. The company has also been criticized for executive compensation levels, particularly the compensation packages awarded to Bob Iger during his second tenure as CEO.

Disney and its subsidiaries have received extensive recognition across film, television, and corporate achievement.

The Walt Disney Company has won more Academy Awards than any other entertainment company. Walt Disney personally holds the record for most Academy Awards won by an individual, with 22 competitive Oscars and 4 honorary awards. Disney's animated features, Pixar films, and Marvel productions have collectively won dozens of Academy Awards.

Disney has been included on the Fortune Most Admired Companies list consistently, ranking in the top 10 in the entertainment industry category. The company is also included in the Forbes Global 2000 and the Dow Jones Industrial Average component list.

In 2025 and 2026, Disney's creative outputs received recognition including Academy Awards for animated and live-action features, Emmy Awards for television programming, and industry recognition for theme park design and innovation. ESPN has received multiple Sports Emmy Awards for its production quality and coverage.

Disney Experiences has received industry recognition for theme park innovation, including awards for new attractions and guest experience improvements. The Disney Cruise Line has been recognized by travel industry publications for service quality.

The company has also been recognized as a top employer in certain markets, though its overall employer rankings have been mixed due to labor disputes and layoff cycles.

Disney has faced multiple controversies across its businesses in recent years.

The Florida Parental Rights in Education legislation (commonly known as the "Don't Say Gay" bill) created a significant political conflict in 2022. Initially, Disney under Bob Chapek was criticized by employees and activists for not opposing the legislation. Chapek later publicly opposed the bill, which led Florida Governor Ron DeSantis and the state legislature to revoke Disney's special tax district status (the Reedy Creek Improvement District). The district was eventually restructured and renamed the Central Florida Tourism Oversight District, with board members appointed by the governor. Disney sued Florida over the action, and the litigation was settled in 2024 with both sides agreeing to dismiss their respective lawsuits.

Under D'Amaro, Disney has faced political pressure surrounding late-night host Jimmy Kimmel, whose political commentary on ABC's "Jimmy Kimmel Live!" has drawn criticism from conservative political figures. The company has defended Kimmel's editorial independence while navigating the political sensitivities of owning a broadcast network.

Disney has faced antitrust scrutiny related to its acquisitions. The 21st Century Fox acquisition was approved by the U.S. Department of Justice in 2019 with conditions requiring the divestiture of Fox's regional sports networks. The European Commission also reviewed the transaction. No current antitrust actions are pending against Disney, though the company's market position in streaming and sports media continues to attract regulatory attention.

The company has undergone multiple rounds of layoffs since Iger's return in 2022, including approximately 7,000 job cuts announced in early 2023. D'Amaro has indicated that further cost reductions are underway, including reductions in labor and SG&A expenses. These layoffs have drawn criticism from employee groups and labor unions, particularly at theme parks where staffing levels affect guest experience.

Disney has faced criticism over its depiction of cultural and racial themes in its film library. Several older films, including "Song of the South" (1946), have been removed from distribution. Disney+ includes content advisories on older titles that contain negative cultural depictions.

In 2023, Disney settled a long-running dispute with the state of Florida over the Reedy Creek Improvement District. The settlement allowed the district to continue operating with a new board structure, preserving Disney's operational autonomy over its Walt Disney World property while ceding governance control to state-appointed officials.