Since its inception in 1923, Disney has become a household name. It is one of the largest media companies in the world and its successes have spanned across movies, merchandise, theme parks, and much more. Some might wonder what makes Disney so successful and the answer lies in its well-crafted business strategy.
Disney’s business strategy is centered around three key moves – creating high-quality products, leveraging cross-promotion opportunities, and investing in innovation. Let’s take a closer look.
The first move is creating high-quality products. Disney has always been synonymous with quality. They invest heavily in the production of their movies, ensuring that every detail is carefully considered. This has given them a reputation for creating magical, memorable experiences that keep fans coming back for more. Take, for example, the live-action remake of “The Lion King”. Despite mixed reviews from critics, the movie grossed over $1.6 billion worldwide. This is a testament to the power of Disney’s brand and its ability to create high-quality products.
The second move is leveraging cross-promotion opportunities. Disney has an incredible range of assets, from movies to theme parks to merchandise. They make use of these assets by cross-promoting their products to their massive fan base. For instance, every time a new Disney movie is released, it is accompanied by a wide range of merchandise and tie-in products. The “Frozen” franchise, for example, generated over $8 billion in merchandise sales alone. By leveraging their extensive range of products and services, Disney is able to increase their market share and drive revenue growth.
The third key move is investing in innovation. Disney is not afraid to take risks and invest in new technologies and business ventures. This is exemplified by their recent push into streaming with Disney+. They recognized the changing landscape of home entertainment and made a bold move to create a platform that would rival the likes of Netflix and Amazon Prime Video. In its first year, Disney+ amassed over 60 million subscribers, indicating that their investment in innovation has paid off.
In conclusion, Disney’s success can be attributed to its well-crafted business strategy. By creating high-quality products, leveraging cross-promotion opportunities, and investing in innovation, Disney has established itself as a global leader in the entertainment industry. These key moves, combined with their tireless attention to detail and their love for storytelling, have made them a beloved brand by audiences across the globe.
