Walt Disney Studios (division)
On the 16th of October 1923, a small animation company named Walt Disney Productions opened its doors in Hollywood. The studio began as a modest operation focused on creating animated short films for local audiences. By 1934, the team started work on their first feature-length animated film. This ambitious project took three years to complete and premiered in December 1937. Snow White and the Seven Dwarfs became the highest-grossing film of that time by 1939. In the 1940s, Disney experimented with full-length live-action films. They introduced hybrid live action-animated films such as The Reluctant Dragon in 1941 and Song of the South in 1946. That same decade, the studio began producing nature documentaries with the release of Seal Island in 1948. This documentary won an Academy Award for Best Live-Action Short Film. Walt Disney Productions had its first fully live-action film in 1950 with the release of Treasure Island. By 1953, the company ended agreements with third-party distributors like RKO Radio Pictures and United Artists. They formed their own distribution company called Buena Vista Distribution. In 1959, Disney purchased the Golden Oak Ranch for feature films and television series productions.
By the 1980s, the Walt Disney Company's collection of film units emerged as one of Hollywood's major film studios. Richard Berger was hired by Disney CEO Ron W. Miller as film president in April 1983. Berger diversified the studio's output by green-lighting more adult and mature films targeted toward adult audiences. As a result, Touchstone Films was started by Miller in February 1984 as a label for their films rated PG and higher. An expected half of Disney's six to eight films yearly slate would be released under this new label. Touchstone and Hollywood Pictures were formed within that unit on the 15th of February 1984, and the 1st of February 1989, respectively. In October 1984, Daily Variety identified Disney as the seventh major film studio due to the hiring of Eisner as Disney chairman. Fred Silverman and his InterMedia production company struck a deal with the Walt Disney Studios in late 1984. Organized in 1985, Silver Screen Partners II, L.P. financed films for Disney with $193 million in funding. In January 1987, Silver Screen III began financing films for Disney with $300 million raised. That year, the Walt Disney Studios decided to restructure their divisions at parent company. They appointed four directors to newly created vice president positions including John Covas, Linda Stefansen, Anne Waldeck and Lloyd Wendkos. In April 1988, Touchstone became a unit of Walt Disney Pictures with newly appointed head Ricardo Mestres. Walt Disney Studios announced the formation of Hollywood Pictures division which would only share marketing and distribution with Touchstone.
In December 2009, The Walt Disney Company completed its acquisition of Marvel Entertainment for $4.2 billion. On the 30th of October 2012, Lucasfilm agreed to be purchased by the Walt Disney Company. A new Star Wars trilogy was announced on that same day. The deal was finalized on the 21st of December 2012. In December 2017, Disney announced plans to purchase 21st Century Fox for $52.4 billion. Following the acquisition of 21st Century Fox, Disney announced that the film divisions of Fox Entertainment Group would be folded into the Walt Disney Studios. Fox's filmed entertainment CEO Stacey Snider exited following the acquisition. Fox executives Emma Watts, Nancy Utley and Stephen Gilula joined the Walt Disney Company on the 20th of March 2019. On the 28th of June 2018, DisneyToon Studios was shut down. On the 19th of June 2018, Pete Docter and Jennifer Lee were announced as Lasseter's replacements as chief creative officers of Pixar and Disney Animation respectively. In August 2019, Disney became the first studio to have five films to gross over $1 billion at the worldwide box office in a single year. Walt Disney Studios became the first major studio to reach $10 billion at the global box office in December 2019.
In 2003, the studio set a worldwide box office record of $3 billion gross. On the 19th of December 2016, Walt Disney Studios became the first major studio to reach $7 billion at the global box office. This surpassed Universal's record from 2015 of $6.89 billion. Disney achieved this with five of the top 10 films of the year including The Jungle Book, Finding Dory, Captain America: Civil War, and Rogue One: A Star Wars Story. Four films in 2016 grossed over $1 billion and another $966 million globally. Two studio units' combined lifetime library grosses passed $10 billion. In December 2018, the studio surpassed $7 billion in global box office for the calendar year. It was the second time in history that any studio had surpassed the $7 billion mark after Disney's own industry-record global gross of $7.6 billion in 2016. Walt Disney Studios became the first major studio to reach $10 billion at the global box office in December 2019. The studio ended 2019 eventually earning $13.2 billion in worldwide box office. Disney achieved this on the strength of Avengers: Endgame, The Lion King, Captain Marvel, Toy Story 4, Aladdin, Frozen II, and Star Wars: The Rise of Skywalker all earning over $1 billion.
In July 2006, Disney announced a shift in its strategy of releasing more Disney-branded films and fewer Touchstone titles. This move was expected to reduce the Group's work force by approximately 650 positions worldwide. In April 2007, Disney retired the Buena Vista brand. Hollywood Pictures was also retired as well. On the 9th of February 2009, Walt Disney Studios entered a seven-year, 30-picture distribution deal with DreamWorks Studios. In late 2009, Miramax Films, a formerly independent Disney film unit, was transferred to the Walt Disney Studios until its sale in 2010 to Filmyard Holdings. On the 28th of June 2018, DisneyToon Studios was shut down. On the 9th of February 2021, Disney announced that Blue Sky Studio would be closed effective April 2021 due to the ongoing coronavirus pandemic's continued economic impact on the company's businesses. It was no longer sustainable for Disney to run a third feature animation studio. The studio's film library and intellectual properties would still be retained by Disney. On the 26th of April 2023, 20th Digital Studio was dissolved. In April 2025, Disney announced that it would not renew its lease with Fox Corporation and that it would vacate the Fox Studio Lot in Century City at the end of 2025.
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Common questions
When did Walt Disney Studios open its doors in Hollywood?
Walt Disney Productions opened its doors on the 16th of October 1923. The studio began as a modest operation focused on creating animated short films for local audiences.
What was the first feature-length animated film produced by Walt Disney Studios and when did it premiere?
Snow White and the Seven Dwarfs premiered in December 1937 after three years of development. This project became the highest-grossing film of that time by 1939.
Which major acquisitions did Walt Disney Company complete between 2009 and 2019?
The company acquired Marvel Entertainment for $4.2 billion in December 2009 and Lucasfilm on the 21st of December 2012. Plans to purchase 21st Century Fox for $52.4 billion were announced in December 2017.
How much money did Walt Disney Studios earn at the global box office in 2019?
Walt Disney Studios earned $13.2 billion in worldwide box office revenue during 2019. This total included five films that each grossed over $1 billion including Avengers: Endgame and Star Wars: The Rise of Skywalker.
When was DisneyToon Studio shut down and what happened to its assets?
DisneyToon Studio was shut down on the 28th of June 2018. The studio's film library and intellectual properties remained retained by Disney following the closure.