In the late 1960’s, Walt Disney Productions was the subject of takeover rumors. With the turmoil brought about by television and the death of its visionary founder, many people thought it was a foregone conclusion that the company would be taken over by a conglomerate, who could then take advantage of the company’s valuable trademarks and copyrights.
After Walt Disney’s death, however, his brother was resolute that the company would continue as an independent entity. How was this possible despite all of the upheaval in Hollywood? It was due to the risks taken by Walt Disney himself in the 1950’s. Mr. Disney was the first studio head who saw the emergence of television and embraced it rather than ignore it. Instead of merely selling off the studio’s back catalog, Mr. Disney licensed it and retained ownership.
The biggest saving grace, however, was the biggest risk of them all- DISNEYLAND. Originally, very few people thought that the park would be successful. Many in Hollywood believed that the park would ruin him and take down his studio. In actuality, it was arguably the reason that Walt Disney Productions leapfrogged to become the multi-billion dollar behemoth it is today.
DISNEYLAND finally provided the stability that the company needed in a world where it was becoming more difficult to live “picture to picture” as the company had done for many years. DISNEYLAND would provide the funds to purchase the land in Florida that would become Walt Disney World. When Walt Disney World’s Magic Kingdom had disappointing attendance, it was DISNEYLAND that kept the lights on. When EPCOT Center almost bankrupted the company, DISNEYLAND’s profits kept it afloat. What was originally called “Disney’s Folly” became Disney’s profitable secret weapon.
