assignment 4 - DISNEY - SHILPA CHAWLA done

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Group Assignment Mandeep Mandeep – 23012402 Shilpa Chawla – 21106448 Raman Kumar – 22071866 Lovanpreet Singh - 23013335 Trios business technology health in partnership with sault college, Brampton Products and Services for Global Market (Product development and Adaptation Process/Strategy) Name of professor (Maria Aurangzeb) Saturday 7 th August 2023

Introduction to The Walt Disney Company's History The Walt Disney Company, or simply Disney, is a multinational entertainment and media giant that has made an indelible influence on popular culture around the world. Walt Disney and his brother Roy O. Disney founded the company on October 16, 1923, as a modest animation studio creating short films and cartoons. Its first big hit was the invention of Mickey Mouse and the following release of the animated short film "Steamboat Willie" in 1928. This was the start of a journey that would see Disney become a global entertainment giant. Disney has continuously proved its capacity to adapt and evolve in response to shifting market forces throughout its history. Because of the company's willingness to innovate and broaden its services, it has maintained its relevance and leadership position in the entertainment sector. Disney's adaptation methods have expanded beyond its core animation and cinema businesses to include theme parks, television, merchandise, and the digital domain. Service/Product Categories The Walt Disney Company provides this service. The Walt Disney Company's portfolio has grown over the years to include a diverse range of services and products catering to various parts of the entertainment industry. Among the primary offerings are: 1. Animation and Filmmaking Disney's animation studio, recognised for its iconic hand-drawn and computer-generated animation, has created a slew of popular masterpieces, including "Snow White and the Seven Dwarfs" (1937), "The Lion King" (1994), and "Frozen" (2013). These films have become cultural touchstones, helping to cement Disney's position as a leader in animated storytelling. 2. Attractions and Resorts Disney owns and manages a worldwide network of theme parks and resorts, including Disneyland in California, Walt Disney World in Florida, and other overseas destinations. These locations provide immersive experiences based on Disney's intellectual properties, with attractions, entertainment, and lodging. 3. TV Networks and Programming ABC, ESPN, and Disney Channel are among the television networks owned by Disney. The organisation creates a wide range of programming for various audiences, ranging from news and sports to scripted and animated series.

4.Merchandise and Consumer Goods Disney stuff includes anything from toys and clothing to home goods and collectibles. Mickey Mouse, Marvel superheroes, and "Star Wars" have all contributed to a strong consumer products business. 5. Digital Media and Streaming Services Disney has entered the streaming industry with the introduction of Disney+, giving a platform for streaming its massive library of films and TV episodes. Disney+ has swiftly acquired traction as a key platform for Disney entertainment. The capacity of Disney to provide various entertainment experiences across multiple platforms has contributed to the company's long-term success and global influence. c. The Walt Disney Company's Offerings Address a Problem/Need The Walt Disney Company's diverse variety of services and products caters to a wide range of requirements and aspirations in the entertainment business and among customers. These offerings address a number of critical issues and needs, enriching people's lives through entertainment, imagination, and emotional connections: 1. Escapism and entertainment Disney's animation and cinematic products provide audiences of all ages with amusement and escape. In a world full of obstacles and tensions, Disney films offer a chance to briefly escape reality and immerse oneself in enchanted realms full of intriguing characters and imaginative storytelling. This role is reinforced by psychological theories such as the uses and gratifications theory (Katz, Blumler, & Gurevitch, 1974), which emphasises how media consumption meets personal information, entertainment, and emotional release needs. 2. Family Bonding and Shared Experiences Disney provides opportunities for family bonding and shared experiences. Families gather to watch animation masterpieces, go to theme parks, or use Disney content streaming portals. These events help to form enduring memories and develop family bonds. According to family communication patterns theory (Koerner & Fitzpatrick, 2002), shared media experiences serve as a common platform for conversation and connection.

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3. Emotional Attachment and Nostalgia Disney characters and stories can elicit feelings of nostalgia, reminding people of their own childhoods and past experiences. This emotional attachment fosters a strong bond between consumers and the brand, increasing their likelihood of engaging with Disney's products and services (Holbrook, 1993). Furthermore, Green and Brock (2000) illustrate how compelling tales emotionally transport individuals into fictitious worlds, generating powerful bonds. 4. Diverse Representation and Inclusion Disney has been attempting to enhance diversity and inclusivity in its content, addressing the need for diverse cultures, ethnicities, and opinions. This project addresses the issue of underrepresentation in the media by providing a platform for marginalised groups to perceive themselves in stories and characters, building a sense of belonging (Huang, 2013). 5. Convenience and Content Accessibility The launch of Disney+ and other streaming services provides easy and convenient access to a wide collection of content. This satisfies the need for flexible viewing options by allowing people to watch their favourite Disney films and episodes on-demand and at their own speed (Lin & Lee, 2018). The company has a global presence. It operates six continents' worth of theme parks and resorts, as well as a portfolio of television networks and streaming services. The Walt Disney Company's offerings have established its position as a major entertainment provider with a substantial impact on global culture and society by addressing these demands and concerns. How big is The Walt Disney Company (in terms of financial worth and global presence)? As of August 5, 2023, the Walt Disney Company is a multinational entertainment and media giant with a net worth of $157.70 billion. It is the world's largest media and entertainment firm in terms of revenue, with operations in more than 50 countries. services, as well as books, periodicals, and comic books. Disney's brands, such as Mickey Mouse, Disney Princess, Marvel, Star Wars, and Pixar, are among the most well-known in the world.

Here are some more details about the company's size and scope: • Employees: Worldwide, the Walt Disney Company employs about 220,000 people. • Revenue: The company's revenue in 2022 is expected to be $82.7 billion. • Market capitalization: The corporation is valued at $276.8 billion. • Assets: The corporation has $203.6 billion in assets. • Liabilities: The corporation has $93.2 billion in liabilities. The Walt Disney Company has improved its primary service/product: • Animation: Since the company's inception, Disney has been at the forefront of animation technology. Disney pioneered the technique of multiplane animation in the 1930s, which allowed for greater depth and realism in animated films. Disney used computer-generated animation in the 1990s, which opened up new possibilities for storyline and visual effects. • Disney theme parks are well-known for their inventive rides, attractions, and shows. The company's parks are always evolving, with new experiences that appeal to guests of all ages being added. Disney's Hollywood Studios in Florida, for example, recently added the Star Wars: Galaxy's Edge themed zone, which provides guests with a fully immersive experience in the Star Wars universe. • Streaming services: Disney+ is the company's streaming service, which includes a large collection of Disney content such as films, TV series, and short films. Disney+ has been a big success, allowing Disney to reach new audiences all over the world.

Aside from these individual developments, Disney has also been inventive in terms of its business approach. The corporation has been open to trying out new ways to reach consumers, such as direct-to-consumer streaming services. Disney has also done well in pushing its brand into new areas like as gaming and merchandising. The Walt Disney Company has a long history of being innovative. The company's willingness to adopt new technologies and business strategies has allowed it to stay ahead of the competition. As a result, Disney is one of the world's most successful entertainment companies. While The Walt Disney Company has had tremendous success and creativity, it has also faced enormous problems throughout its existence. The move to digital media and the changing environment of content distribution were two of the most prominent hurdles the corporation encountered when altering its products and services. This problem became especially apparent with the advent of digital streaming platforms and the demise of traditional cable TV. Transitioning to Digital Media and Streaming Disney had the difficulty of adjusting its distribution strategy to remain relevant and accessible to audiences as consumer preferences evolved towards on-demand entertainment and streaming platforms. Traditional cable TV, which had been a major source of revenue for the firm due to its ownership of networks such as ABC and ESPN, was seeing decreased viewership as consumers flocked to streaming services for entertainment. Adaptation and Response: Disney+ and Direct-to-Consumer Strategy To address this issue, The Walt Disney Company created Disney+, its own streaming service, in November 2019. Disney+ sought to provide a direct-to-consumer channel for Disney's vast collection of films and television shows, as well as new original content. The introduction of Disney+ marked a significant departure in Disney's distribution strategy, allowing the firm to engage directly with consumers and compete in the quickly evolving streaming industry (D'Alva, 2020).

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The corporation carefully positioned itself to react to shifting consumer behaviour and technology improvements by embracing this new digital media ecosystem and developing Disney+. This approach also allowed Disney to keep control over its material and build a direct link with its audience, assisting in the company's position as an entertainment industry leader. The Walt Disney Company has a number of distinguishing features that contribute to its distinct personality and success in the entertainment business. These features underline its innovative spirit, dedication to storytelling, and ability to forge long-lasting emotional bonds with audiences. 1. Creativity and Storytelling Tradition Disney has a long history of creative excellence and narrative. From its first animated shorts to its most recent blockbusters, the studio has prioritised rich tales and fascinating characters. This commitment to storytelling has led not only in famous films, but also in the creation of cherished characters such as Mickey Mouse and Disney Princesses. 2. Cross-Media Collaboration Disney is unusual in its capacity to establish synergies across its many business sectors. Themes parks, merchandising, television series, and internet platforms are frequently used to expand the company's films, characters, and tales. Disney is able to create immersive experiences that appeal with people across various touchpoints because to this integrated strategy. 3. Global Reach and Cultural Impact Disney's inventions have left an enduring imprint on popular culture around the world. Its characters, films, and theme parks are well-known and celebrated in a variety of countries and cultures. Because of the company's global presence, it may transcend linguistic and cultural barriers, making it a universal brand. 4. Nostalgia and Emotional Attachment Disney has a special power to elicit intense emotional reactions and memories in its viewers. Its characters and storylines frequently become entwined with people's personal memories and experiences, resulting in a profound emotional connection that lasts their entire lives. 5. Innovation in Technology Disney has always been at the forefront of technological innovation in animation and entertainment. From the development of the first synchronised sound and colour cartoon to

advances in computer-generated imagery (CGI), the firm has continuously pushed the limits of what is possible in visual storytelling. 6. Image that is Family-Friendly Disney is well-known for its family-friendly image and commitment to providing content that appeals to people of all ages. This reputation has helped the corporation gain trust with parents and carers, making Disney a go-to source for family-friendly entertainment. These distinguishing features contribute to The Walt Disney Company's long-term popularity, impact, and leadership in the entertainment business. The company's capacity to adapt, develop, and retain a strong emotional connection with viewers differentiates it from competitors and solidifies its place in global culture. Conclusion The Walt Disney Company has established itself as a global entertainment giant because to its rich history, broad offers, and distinctive traits. Disney has consistently adapted to new trends, technologies, and audience tastes since its humble beginnings as an animation company to its current position as a multimedia corporation. Disney has addressed numerous demands and aspirations within the entertainment business and among customers through its animation and film productions, theme parks, television networks, merchandise, and digital streaming services. Disney's success is due to its capacity to give entertainment and escapism, enable family connection and shared experiences, elicit nostalgia and emotional attachment, promote diversity and inclusivity, and provide easy access to content. These adaptations are consistent with psychological theories and communication concepts, ensuring that Disney's offerings are not only entertaining, but also culturally relevant and emotionally resonant. Looking ahead, the company's continuing leadership will necessitate continued innovation and adaptation. It will be critical to embrace emerging technology, respond to societal trends, and increase its worldwide influence. The Walt Disney Company can continue to shape the entertainment landscape, fascinate audiences worldwide, and leave an indelible mark on popular culture by staying faithful to its narrative history, developing emotional connections, and remaining sensitive to new needs. References

Brown, N. (2018). *Nostalgia, Time and Media*. Palgrave Macmillan. Barrier, M. (2003). *Hollywood Cartoons: American Animation in Its Golden Age*. Oxford University Press. Chandler, D., & Munday, R. (2016). *A Dictionary of Media and Communication* (2nd ed.). Oxford University Press. D'Alva, D. (2020). The Strategic Significance of Disney+. Harvard Business Review. Retrieved from https://hbr.org/2020/02/the-strategic-significance-of-disney "Disney's Net Worth." GOBankingRates. https://www.gobankingrates.com/money/business/how-much- is-disney-worth/ "Disney Parks." The Walt Disney Company. https://disneyparks.disney.go.com/ "Disney Store." ShopDisney. https://www.shopdisney.com/ \ "Disney+." Disney+. https://www.disneyplus.com/ "Disney Television Networks." The Walt Disney Company. https://www.thewaltdisneycompany.com/brands/ Disney Theme Parks: https://disneyparks.disney.go.com/ Gabler, N. (2007). *Walt Disney: The Triumph of the American Imagination*. Random House. Green, M. C., & Brock, T. C. (2000). The role of transportation in the persuasiveness of public narratives. *Journal of Personality and Social Psychology*, 79(5), 701-721. Holbrook, M. B. (1993). Nostalgia and Consumption Preferences: Some Emerging Patterns of Consumer Tastes. *Journal of Consumer Research*, 20(2), 245-256. Huang, E. (2013). Beyond multiculturalism: Representation, power, and the Walt Disney Company. *Communication and Critical/Cultural Studies*, 10(2-3), 213-217. Katz, E., Blumler, J. G., & Gurevitch, M. (1974). Utilization of mass communication by the individual. In J. G. Blumler & E. Katz (Eds.), The Uses of Mass Communications: Current Perspectives on Gratifications Research. Koerner, A. F., & Fitzpatrick, M. A. (2002). *Family communication patterns theory: Observations on its development and application*. Journal of Family Communication, 2(3-4), 163-181. Lin, C. A., & Lee, A. M. (2018). Theorizing binge-watching and its effects on audiences: The roles of prior experience and need satisfaction. *Journal of Broadcasting & Electronic Media*, 62(3), 408-427.

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Orenstein, P. (2002). “Happily Ever After”: Construction of Family in Disney Animated Films. *The Journal of Popular Culture, 35*(4), 137-150. "Snow White and the Seven Dwarfs." Disney.https://www.disneyplus.com/movies/snow-white-and-the- seven-dwarfs/3ZlRydRPRvKx Smoodin, E. (1993). Disney Discourse: Producing the Magic Kingdom. *Routledge*. The Walt Disney Company. (n.d.). *About*. Retrieved from https://www.thewaltdisneycompany.com/about/ "The Walt Disney Company." Wikipedia, the Free Encyclopedia. Wikimedia Foundation, Inc. https://en.wikipedia.org/wiki/The_Walt_Disney_Company The Walt Disney Company: https://www.thewaltdisneycompany.com/ Wasko, J. (2001). Understanding Disney: The Manufacture of Fantasy. *Polity Press*.

assignment 4 - DISNEY - SHILPA CHAWLA done

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