But adapting to the times is not a new challenge for Disney (DIS.N), rather it’s been a point of survival throughout the company’s history.
People attend the "Happily Ever After" fireworks display at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS/Octavio Jones/File PhotoA century ago when “Disney” was a single person, not a global company worth over $150 billion, emerging sound and color technologies rattled the silent film industry.
The studio formalized 12 principles of animation which transformed static sketches into lively characters on a screen. Veteran animators taught the principles to each of the new artists who joined the studio to ensure consistency.Walt Disney entered the animation scene as a young businessman, well positioned to capitalize on existing techniques and embrace new tools.
By the turn of the century, Pixar’s progress in computer-generated animations had eclipsed Disney’s traditional hand-drawn style, namely with the first totally computer-generated animation “Toy Story”. But Disney didn’t need to innovate its way out of its problems this time. It could rely on a new tool: money. Merchandise, theme parks and cable TV had filled the company’s pockets for decades. Disney bought Pixar in 2006 for $7.
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