迪士尼公司运营案例分析.docx
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AnalysisDisneyCompany
TheWaltDisneyCompanyisanAmericandiversifiedmassmediacorporationwithtouchingeveryaspectoftheentertainmentindustry,includingpublishing,televisionnetworks,educationalmaterials,cablechannelsandInternetwebsites(Smith,Clark,1999).Anditalsoownsthethemeparksallaroundtheworld.DisneyCompanybecamea“world’sbest-knowncompany”whichwasbasedonalotofcartooncharacters.Todayitisoneofthelargestmediacorporationsintheworld(Siklos,2009).
DevelopmentofDisney
DisneyCompanywasformedon16October1923,byWaltDisneyandhisbrotherRoyDisneyinLosAngeles,whichwasnamedtheWaltDisneyStudio.“Itallstartedwithamouse”(Wasko,p.9,2013).Beforethemouseappearedinthefilm,WaltdidtwocartoonserieswhichwascalledOswaldtheLuckyRabbitandAliceComedies.However,becauseofOswaldgotinvolvedtheproblemofcopyright,Waltneededtosearchforanewcharacter.In1928,theideaofthemousewhichwasnamedMickeycameintohismind(Wasko,2013).AndthenthegreatsuccessofMickeymadethecompanyrapidlygrowingupinHollywood.
DuringtheWorldWar2,DisneyCompanyhasbeentakenoverbyUSArmytroopsalot.However,thissituationdidnotblockthedevelopmentofDisney,atthattime,DonaldDuckasoneofthefamousanimalcharactersappearedinshortfilm.
Afterthewar,thewaythatDisneyCompanydevelopedtheirfilmswerebecomingdiversification.WaltstartedproducingtelevisionprogrammingwithABCandNBC,whichmadetheircharacterstoshowthemselvesontelevision.ThissuccessfulmovementletDisneyCompanygoesfurther—athemepark.ThefirstDisneylandwasopenedon1955(Grover,1997).Duetothesegreatsuccessfulstrategies,DisneyCompanyfinallybecomesamajorindependentfilmcompanyinHollywood(Wasko,2013).
HowdoesTheDisneyCompanygrowup?
TheDisneyCompanyusesdiversificationstrategiestoexpanditsmarket,whichmakethemtoachievemediamonopolyandcreateenormousrevenue.Thosediversificationstrategiescanbeseparatedintotwoaspects,horizontalintegrationandverticalintegration.
1.Horizontalintegration
Since1993,DisneyCompanyneverstoppedtheirfootstepsofacquisitions.DisneyCompanyhasacquiredMiramaxFilms,Pixar,MarvelEntertainmentandLucasfilm.
“Horizontalintegrationenablesacompanytoincreasemarketpowerbycross-promotingorcross-sellingashow”(McChesney,p.22,1999).In1993,DisneyCompanyacquiredMiramaxwhichwasaleaderinindependentfilmdistribution(Wasko,2013).ThismovemadeDisneyCompanyhadmoremarketshareforadultnotonlyinchildrenmarket.Throughaseriesofacquisitions,DisneyCompanyobtainedmoreopportunitiestodistributedifferentkindsoffilms,whichcreatednewcontentstoDisneyCompany.
2.Verticalintegration
In1995,thefirstDisneylandopenedinCalifornia.Andnow,DisneyCompanyalreadyhas7themeparksaroundtheworldwhichbringDisneyCompanyenormousincome.AccordingtotheDisneyannualreportin2014,Disneyparksandresortscontributed$15,099profitsin2014.
In1996,DisneyCompanyofficiallyacquiredABC,withthismerger,“DisneycouldacquiretheentireABCtelevisionnetwork,keyABCaffiliates,ABCradionetworks,publishingenterprises,ESPN,A&EandLifetime”(Smith,Clark,p.171,1999).ThisdecisioncombinedDisneyanimatedfilm,televisionprogramandradioprogrammingtogethereffectively.ItmadeDisneyCompanyoccupiedadominantpositioninthemediaindustry(Wasko,2013).Andin2001,theFoxFamilyWorldwidewassoldtoDisneybyNewsCorp.whichknownasABCFamily(ColumbiaJournalismReview).
3.Diversification
DisneyCompanyaddeddiversificationactivitiestoexpandareasofDisney’soperationsince1984(Wasko,2013).Duetotheacquisition,DisneyCompanyhadopportunitiestotakebenefitsoftechnologiesfromMiramaxFilms,Pixarandotherscompanyhavebeenacquired
AccordingtotheannualreportofDisneyCompanyin2014,“TheWaltDisneyCompany,togetherwithitssubsidiaries,isadiversifiedworldwideentertainmentcompanywithoperationsinfivebusinesssegments:
MediaNetworks,ParksandResorts,StudioEntertainment,ConsumerProductsandInteractive.”AcquisitionsandcooperationhelpDisneytoapproachnewaspect,whichleadDisneytopermeateineveryaspectsoflife.
Howwiderangingareitspresentoperations?
Disney’sindustrydistributesinvariousfields,whichincludemedianetworks,parkandresorts,studioentertainment,consumerproducts,interactive.
Figure1:
fromDisneyannualreport2014
Figure2:
thepercetageofrevenueofDisneyComany,fromDisneyannualreport2014
Accordingtothesetwograph,therevenueofmedianetworkandparksandresortsaremostimportantcontributionsofDisneyCompany,whichoccupymorethanhalfofrevenue,almost74%.Andthiswasduetohighprogramesalesatbroadcastingandhighqualityamenitiesofthemeparks(Disneyannualreport,2014).
Howglobalisedareitscurrentoperations?
Disneychannelscanbeaspecificexample.“TheDisneyChannelsincludesover100channelsavailablein34languagesand164countries/territories”(Disneyannualreport,2014).Therefore,Disneyhasreachedmostmarketsaroundtheworld.
Figure3:
fromDisneyannualreport2014
Figure4:
theoverseasrevenueofDisneyComanyin2014,fromDisneyannualreport2014
Accordingtofigure4,UnitedStatesandCanadaarethemostimportantmarketswhichcontributed$36,769millionin2014.Andfromfigure5,wecanseethatthemostincomeofoverseasmarketisEurope.HoweverAsiaasthesecondmarketshowsasignificantincreasebycomparedwiththeotherareas,whichshowsthatAsiamarketisbecomingmoreimportantinglobalmarketofDisney.
InthefieldsthatDisneyhasapporached,theirThemeParkscanbelooklikeamostusefulbusinessmethodtoenlargetheiroverseasmarkets.Forexample,beforetheHongKongDisneylandbuilt,HongKongSpecialAdministrativeRegion(HKSAR)invested$2.9billionwhichincludedinfrastructureimprovementandloanstothisDisneylandandalsoearnedabout$780millionfromthejointventure(Matusitz,2009).Atthesametime,Disneymade“fourglocalizationchanges”toadaptChinesepeople’spreference.“Theyare
(1)reductionofprices;
(2)adaptationtolocalvisitors‘customs;(3)changeofdécorsandsettings;(4)adaptationoflaborpractices”(Matusitz,p.671,2009).Basedonthese“fourglocalizationchanges”,HongKongDisneylandwasmoresuccessful.
HowdoesDisneyinfluencedbytheshareholdersanddirectors?
AccordingtoDisneyCompanyannualreportin2014,RobertA.IgerisChairmanandChiefExecutiveOfficerofDisney.AndtherearethefivemajorshareholdersofDisneyCompany:
Figure5:
theownershipsumaryofDisneyComany,fromNASDAQ
Figure6:
Top5HoldersofInstitutionalHoldingsofDisneyComany,fromNASDAQ
Fromthesetwopiechart,wecanseethatInstitutionalShareshold61%ofDisneyCompany’sstock.AndthemainshareholderofDisneyCompanyisTheVanguardGroupwhichisanAmericaninvestmentmanagementcompany.
DisneyCompanycanbeinfluencedanddevelopedthroughcooperationwithcompanyfrominterlockingshareholdersandinterlockingdirectorships,whichcanbedistributeinthreeareas:
Financialinstitutions,foodanddrinkcompaniesanddigtialcompanies.Thediversificationofcooperationcanbefoundinmanyways,likeeconomy,politicalandculturalnetworks.
BoardofDirectors
InterlockingCompany
SusanE.Aronld
TheCarlyleGroup,McDonaldsCorporation
JohnS.Chen
Blackberry,Ltd.,SybaseInc.
JackDorsey
Twitter,Inc.,Square,Inc.,
RobertA.Iger
TheWaltDisneyCompany
FredH.Langhammer
EstéeLauderCompaniesInc.,TheShinseiBank
AylwinB.Lewis
PotbellySandwich,StarwoodHotels&ResortsWorldwide
MonicaC.Lozano
U.S.HispanicMedia,Inc.,ImpremediaLLC,BankofAmericaCorporation
RobertW.Matshullat
VisaInc.,TheSeagramCompanyLtd.MorganStanley&Co.Incorporated,TheCloroxCompany
SherylK.Sandberg
Facebook,Inc.,GoogleInc.,StarbucksCorp.
OrinC.Smith
StarbucksCorporation,Nike,Inc.,ConservationInternational,Deloitte&Touche
Figure7:
BoardofDirectorsofDisneyCompany,fromTheWaltDisneyCompany
Thefigure8canclearlyshowtheinterlockingcompanyofDisneyCompany.Aswecanseefromthistable,LanghammerandLozanoaretwodirectorsofDisney,atthesametimetheyarethedirectorsofTheShinseiBankandBankofAmericaCorporationseparately.TheycangiveDisneyCompanyabetterfinancialsupportandeconomicsecurity.ItisalsoastablecapitalchainofDisneyCompany.
DisneyCompanyandinterlockingcompanycooperationmaypromoteDisney’smarketpolicy.Forexample,SmithhasservedasthedirectorofNikewhichhasagreatmarketshareinChinesemarketandsponsorsmanyeventsinChina.Therefore,theconnectionbetweenDisneyandNikemayacceleratesDisney’ssteptoenterChinesemarketandchangestheattitudeorpolicytowardChinesemarket.Furthermore,DisneyandNikehavelaunchsportsshoetogethereverwhichplayedanadvocacyroleforbothbrand.
DisneyCompanyhasitsownthemeparksandresorts,andthosehotelsandfacilitiescomefromtheinterlockingcompanys,likeStarwoodHotels&ResortsWorldwideorDeloitte&Touche.Seagram,starbucksandMcDonaldscompaniesprovideDisneyagreatconvienceforfoodanddrinks.ThoseinterlockingcompaniesmayintheDisneylandornearbytheDisneyland,whichmeansDisneyalsogivesthemaopportunitytoachievethesituationofwin-win.
TheinterlockingcompaniesofDisneyincludeinternetengine,softwareandsocialnetworksiteslikeGoogle,Facebool,TwitterandSybase,providingDisneytechnic