The Walt Disney Company, often referred to simply as Disney, has evolved from a modest animation studio into a global entertainment powerhouse. Understanding who owns Disney provides insight into the stakeholders influencing its direction and strategy.
History of The Walt Disney Company
Founded in 1923 by brothers Walt and Roy O. Disney, the company began as a small animation studio producing short films. The debut of Mickey Mouse in 1928 marked a significant milestone, propelling Disney into the spotlight. Over the decades, Disney expanded its portfolio, venturing into feature films, television, theme parks, and merchandise.
Notable acquisitions, such as Pixar, Marvel, Lucasfilm, and 21st Century Fox, have solidified its position as a dominant force in the entertainment industry.
Who Owns Disney?
The Walt Disney Company is a publicly traded entity with a diverse ownership structure, predominantly held by institutional investors. Here’s a detailed breakdown of its major shareholders:
The Vanguard Group Inc.
As of June 30, 2024, The Vanguard Group Inc. holds approximately 154.81 million shares of Disney, representing 8.54% of the total shares outstanding. Vanguard is a leading investment management company, primarily overseeing mutual funds and exchange-traded funds (ETFs), with about $7.6 trillion in global assets under management (AUM). One of its significant ETFs, the Vanguard S&P 500 ETF (VOO), includes Disney in its holdings.
BlackRock Inc.
BlackRock Inc. owns approximately 122.28 million shares of Disney, accounting for 6.74% of the total shares outstanding as of June 30, 2024. Renowned as a global asset manager, BlackRock manages a vast array of mutual funds and ETFs, with approximately $9.09 trillion in AUM. The iShares Core S&P 500 ETF (IVV), one of BlackRock’s prominent ETFs, includes Disney as part of its portfolio.
State Street Corporation
Holding about 77.11 million shares, State Street Corporation’s stake constitutes 4.25% of Disney’s total shares outstanding as of June 30, 2024. State Street specializes in managing mutual funds, ETFs, and other assets, with approximately $4.13 trillion in AUM. The SPDR S&P 500 ETF Trust (SPY), one of State Street’s largest ETFs, includes Disney among its holdings.
Morgan Stanley
Morgan Stanley owns approximately 45.56 million shares of Disney, representing 2.51% of the total shares outstanding as of June 30, 2024.
Geode Capital Management, LLC
Geode Capital Management holds about 36.28 million shares, accounting for 2.00% of Disney’s total shares outstanding as of June 30, 2024.
FMR, LLC
FMR, LLC holds about 31.65 million shares, equating to 1.75% of Disney’s total shares outstanding. As a financial services company, FMR, LLC manages various investment portfolios that include Disney.
State Farm Mutual Automobile Insurance Co
State Farm Mutual Automobile Insurance Co. owns approximately 30.76 million shares, representing 1.70% of the total shares outstanding. Beyond insurance services, State Farm maintains investments in companies like Disney.
Bank of America Corporation
Bank of America owns approximately 23.46 million shares of Disney, accounting for 1.29% of the total shares outstanding as of June 30, 2024.
Norges Bank Investment Management
Norges Bank Investment Management possesses approximately 21.53 million shares, equating to 1.19% of the total shares outstanding. As the asset management unit of Norway’s central bank, it invests globally, including in companies like Disney.
Northern Trust Corporation
Northern Trust Corporation owns about 21.05 million shares, representing 1.16% of Disney’s total shares outstanding. The financial services company includes Disney in its investment holdings.
Who Controls Disney?
The Walt Disney Company is a publicly traded corporation, meaning its control is distributed among its board of directors, executive leadership, and major institutional shareholders. No single entity or individual holds a majority stake, so decision-making power is shared among key figures within the company and its investors.
The Board of Directors
The board of directors plays a crucial role in Disney’s governance. They oversee corporate strategy, financial decisions, and major acquisitions. The board consists of independent directors, executives, and industry leaders. As of 2024, key board members include:
- Mark Parker (Chairman of the Board) – Former CEO of Nike, responsible for leading Disney’s board and ensuring strong governance.
- Bob Iger (CEO & Director) – Disney’s Chief Executive Officer and a key decision-maker who directly influences strategic planning and company direction.
- Maria Elena Lagomasino – CEO of WE Family Offices, bringing expertise in finance and investment strategy.
- Francis A. deSouza – Former CEO of Illumina, contributing technology and innovation expertise.
- Amy Chang – Former Google executive with expertise in AI and digital transformation.
- Other independent directors – These individuals ensure that Disney operates in the best interest of shareholders.
The board appoints the CEO, approves strategic decisions, and represents shareholder interests.
Bob Iger – The Key Decision-Maker
Bob Iger, Disney’s CEO, plays the most significant role in controlling the company’s day-to-day operations. Having returned to the role in 2022 after previously leading Disney from 2005 to 2020, Iger has been instrumental in shaping the company’s direction. Under his leadership, Disney acquired major brands like Pixar, Marvel, Lucasfilm, and 21st Century Fox.
As CEO, Iger is responsible for:
- Overseeing Disney’s global business operations
- Driving strategic growth, including streaming (Disney+), theme parks, and content production
- Managing relationships with shareholders and investors
- Making final decisions on mergers, acquisitions, and corporate restructuring
Iger works closely with the board and top executives to ensure Disney remains a dominant force in entertainment.
Major Institutional Shareholders Influence
While Disney’s executive team and board make the final decisions, major institutional shareholders like The Vanguard Group (8.54%), BlackRock (6.74%), and State Street Corporation (4.25%) hold substantial voting power. These asset management firms influence corporate governance through proxy voting and shareholder meetings.
Institutional investors typically do not interfere in daily operations but can influence:
- Executive leadership appointments
- Dividend policies
- Mergers and acquisitions
- Corporate social responsibility initiatives
When large shareholders are dissatisfied with leadership decisions, they can advocate for changes by voting against board members or key policies.
Annual Revenue and Net Worth of Disney
The Walt Disney Company has experienced significant financial fluctuations over the past decade, reflecting its adaptability and strategic initiatives in the entertainment industry. Below is a detailed overview of Disney’s revenue and net worth:
Fiscal Year 2024-2025 Overview
As of the latest available data up to June 30, 2024, Disney reported the following financial figures:
- Quarterly Revenue (Q3 2024): $23.155 billion, marking a 3.69% increase compared to the same quarter in the previous year.
- Trailing Twelve Months (TTM) Revenue Ending June 30, 2024: $90.028 billion, a 2.53% increase year-over-year.
These figures indicate steady growth, driven by robust performances in Disney’s streaming services and domestic theme parks. The company projects a 6%-8% increase in theme park operating income for fiscal 2025 and aims for a 10% operating margin for its streaming services by fiscal 2026.
Historical Revenue and Net Worth (2014-2023)
Below is a summary of Disney’s annual revenue over the past ten fiscal years, along with the year-over-year percentage changes:
| Fiscal Year | Revenue (in billions) | YoY% Change |
|---|---|---|
| 2014 | $48.813 | N/A |
| 2015 | $52.465 | +7.49% |
| 2016 | $55.632 | +6.03% |
| 2017 | $55.137 | -0.89% |
| 2018 | $59.434 | +7.80% |
| 2019 | $69.607 | +17.12% |
| 2020 | $65.388 | -6.06% |
| 2021 | $67.418 | +3.10% |
| 2022 | $82.722 | +22.70% |
| 2023 | $88.898 | +7.47% |
These data points highlight Disney’s revenue trajectory, with notable growth in 2019, primarily due to strategic acquisitions and expansions. The dip in 2020 reflects the global impact of the COVID-19 pandemic on the entertainment and tourism sectors. Subsequent years show a recovery trend, with significant increases in 2022 and 2023.
Net Worth Considerations
Disney’s net worth, often assessed through its market capitalization, has fluctuated in tandem with its financial performance and market conditions. As of the latest data, Disney’s market capitalization stands at approximately $173.724 billion.
It’s important to note that market capitalization is influenced by various factors, including stock price movements, investor sentiment, and broader economic indicators.
Disney Market Share and Competitors
The Walt Disney Company operates in a multifaceted entertainment landscape, encompassing film production, television broadcasting, streaming services, and theme parks. Its market share varies across these sectors, with each facing distinct competitors.
As of 2023, Disney held a 25.8% share of the North American box office, underscoring its dominance in the film industry.
Major Competitors
Disney’s primary competitors differ by industry segment. Below is an overview of key rivals in each area:
Comcast Corporation (Universal Studios)
Comcast, through its subsidiary Universal Studios, is a formidable competitor in film production and theme parks. Universal Studios has produced blockbuster franchises like “Jurassic Park” and “Fast & Furious,” contributing to its substantial market share. In the theme park sector, Universal’s parks, including those in Orlando and Hollywood, attract millions of visitors annually, challenging Disney’s dominance.
Netflix
In the streaming arena, Netflix is a leading competitor. As of 2021, Netflix held over 41% of the market share, surpassing Disney’s streaming services.
Netflix’s extensive content library and global reach make it a significant rival to Disney+.
Amazon Prime Video
Amazon Prime Video is another key player in the streaming market. In 2021, it held an 11.3% market share, slightly ahead of Disney+, which had 9.9%.
Amazon’s integration of streaming services with its e-commerce platform provides a unique value proposition, intensifying competition.
Warner Bros. Discovery
Warner Bros. Discovery competes with Disney in film production, television broadcasting, and streaming services. With a rich portfolio of content, including the DC Universe and popular TV series, it poses a significant challenge to Disney’s market share.
ViacomCBS (Paramount)
ViacomCBS, operating under the Paramount brand, is a notable competitor in both film and television sectors. Its diverse content offerings and strategic partnerships contribute to its competitive stance against Disney.
Sony Pictures
Sony Pictures competes with Disney in film production, particularly with franchises like “Spider-Man.” Its collaborations and co-productions with Marvel Studios add complexity to the competitive landscape.
Six Flags Entertainment Corporation
In the theme park industry, Six Flags is a significant competitor. While it primarily operates regional parks, its presence across North America offers alternative entertainment destinations to Disney’s resorts.
Brands Owned by Disney
The Walt Disney Company has expanded its entertainment empire through strategic acquisitions, encompassing a diverse array of brands and franchises. Below is a detailed overview of the major entities under Disney’s ownership:
Marvel Entertainment
In 2009, Disney acquired Marvel Entertainment for approximately $4 billion, integrating iconic superheroes such as Spider-Man, Iron Man, and the Avengers into its portfolio. This acquisition has resulted in a series of successful films and merchandise, significantly boosting Disney’s presence in the superhero genre.
Lucasfilm
Disney purchased Lucasfilm in 2012 for $4.05 billion, gaining control over the “Star Wars” and “Indiana Jones” franchises. This acquisition has led to new film installments, television series, and themed attractions at Disney parks, revitalizing these beloved franchises.
Pixar Animation Studios
In 2006, Disney acquired Pixar for $7.4 billion, bringing acclaimed animated films like “Toy Story,” “Finding Nemo,” and “The Incredibles” under its umbrella. This merger enhanced Disney’s animation capabilities and led to a series of critically and commercially successful films.
20th Century Studios
Formerly known as 20th Century Fox, Disney acquired this studio in 2019 as part of a $71.3 billion deal. This acquisition expanded Disney’s film library with franchises like “Avatar,” “Alien,” and “Planet of the Apes,” and regained rights to Marvel properties such as the X-Men and Fantastic Four.
ABC
Disney purchased the American Broadcasting Company (ABC) in 1995 for $19 billion, adding a major television network to its assets. This acquisition included multiple television stations and significantly expanded Disney’s reach in broadcast television.
ESPN
As part of the ABC acquisition, Disney gained an 80% stake in ESPN, a leading sports entertainment network. This move solidified Disney’s presence in sports broadcasting, offering a wide range of live sports and related programming.
Hulu
Disney took majority control of Hulu in 2019 after acquiring 21st Century Fox’s stake and later secured full operational control by agreeing to buy Comcast’s stake. Hulu offers a diverse array of streaming content, complementing Disney’s other streaming services like Disney+ and ESPN+.
The Muppets
In 2004, Disney acquired the Muppets franchise, including characters like Kermit the Frog and Miss Piggy. This acquisition allowed Disney to produce new content and merchandise featuring these classic characters.
A&E Networks
Through a joint venture with Hearst Corporation, Disney owns 50% of A&E Networks, which includes channels like A&E, History Channel, and Lifetime. This partnership expanded Disney’s footprint in cable television, offering a variety of programming across these networks.
Vice Media
Disney holds a significant stake in Vice Media, a company known for its youth-oriented digital content and news. This investment reflects Disney’s interest in reaching younger audiences through innovative media platforms.
Conclusion
The Walt Disney Company’s ownership is predominantly held by institutional investors, with The Vanguard Group and BlackRock leading as major shareholders. Despite this broad ownership base, strategic decisions and daily operations are directed by Disney’s executive leadership and board of directors. Through continuous innovation and strategic acquisitions, Disney maintains its status as a global leader in entertainment.
FAQs
Who is the largest individual shareholder of Disney?
Robert Iger, the former CEO of Disney, has held shares in the company, but no single individual owns a controlling stake. Instead, institutional investors like The Vanguard Group and BlackRock hold the largest shares.
Does Disney own Marvel and Star Wars?
Yes, Disney owns both Marvel and Star Wars. Marvel Entertainment was acquired in 2009 for approximately $4 billion, bringing the Marvel Cinematic Universe under Disney’s umbrella. Lucasfilm, the company behind Star Wars, was acquired in 2012 for another $4 billion. These acquisitions have significantly expanded Disney’s influence in the entertainment industry.
What companies does Disney own?
Disney owns several major companies and brands, including Pixar, Marvel Studios, Lucasfilm, 20th Century Studios, ABC, ESPN, Hulu, National Geographic, and Disney Parks & Resorts. These acquisitions and expansions have solidified Disney’s dominance in various sectors of entertainment and media.
How does Disney make money?
Disney generates revenue through multiple streams, including film and television production, theme parks, merchandise, streaming services, and advertising. Its media networks, such as ABC and ESPN, bring in advertising revenue, while Disney+ and Hulu generate income through subscriptions. Theme parks and merchandise also contribute significantly to the company’s overall revenue.
Who was the founder of Disney?
The Walt Disney Company was founded by brothers Walt and Roy O. Disney in 1923. Walt Disney was a creative visionary, while Roy handled the financial aspects of the company. Together, they built Disney into one of the most iconic entertainment brands in history.
Is Disney a monopoly?
While Disney is a dominant force in entertainment, it is not legally classified as a monopoly. However, its acquisitions of major studios like Pixar, Marvel, Lucasfilm, and 21st Century Fox have raised concerns about market concentration. Regulatory bodies continue to monitor its expansion to ensure fair competition.