The Concentrated Ownership of Commercial Culture with Disney
Are you aware of the concentrated ownership of commercial culture? It’s everywhere! From music to television to movies, a few big companies dominate the industry. One such company that has dominated the entertainment industry for almost a century is Disney.
Disney – A Brief History
Walt Disney started the company in 1923 with his brother Roy. They began by creating a series of animated shorts, which would later become some of the most beloved cartoons of all time. However, Disney’s success didn’t stop there, and they expanded into many other areas, including television, theme parks, and merchandise.
Concentrated Ownership in the Entertainment Industry
The entertainment industry has been the subject of much discussion over the years, with increasing focus on the concentration of ownership. In the United States, 90% of the media is controlled by just six companies, and Disney is one of those companies.
The Power of Disney’s Branding
Disney’s branding game is exceptionally strong. The Disney brand is synonymous with quality, nostalgia, and family entertainment. They have achieved this by consistently producing high-quality content and owning their original works. Disney now controls some of the most recognizable brands in the world, including Marvel, Star Wars, and Pixar.
The Monopoly of Disney’s Theme Parks
Disney is the king of theme parks. In 2018, their parks received over 157 million visitors, and the company made over $20 billion in revenue from theme parks alone. This puts them in a unique position of power, as many communities rely heavily on the tourism that Disney and other theme park companies bring.
The Reach of Disney’s Media
Disney’s reach extends to all forms of media, including television, print, and online. They own several major television networks, including ABC, ESPN, and Freeform. Their reach on social media is also massive, with over 269 million followers on Instagram alone.
The Impact of Disney’s Power
The concentration of ownership in the entertainment industry can be problematic. It can limit competition, leading to a lack of diversity in programming and less innovation. Additionally, mergers and acquisitions can lead to job losses as companies merge and look to make cuts to save money. The power of the Disney brand also means that independent creators may struggle to compete and thrive in an industry dominated by a small number of massive companies.
Conclusion
Disney’s impact on the entertainment industry is undeniable. They have become a global giant, dominating almost every corner of media and entertainment. However, their success has come with significant consequences, including limited competition, less diversity, and fewer opportunities for independent creators. As media consumers, it’s essential to be aware of this concentration of ownership and understand the impact it can have on creativity and innovation in the entertainment industry.
