Investopedia: Can There Be Another Disney?

There is an idea out there that the increasing "democratization" of content and distribution will mean that the  age-old balance between artists and creative types and their corporate masters has changed forevermore. If that is true, investors should consider the possibility that there may never be another company quite like Disney (NYSE:DIS) with its ability to create enduring global and iconic brands.


Has Distribution Changed the Game?
There was a time that if someone wanted to be an actor, they had to accept and work within the "studio system." Major studios like Fox Film, Warner Brothers and Paramount signed up all of what they saw as the talented actors, directors and crew to long-term exclusive deals, and they likewise controlled the production studios, distribution networks, and in many cases the theater chains as well. To be in movies outside of the major studios meant being in low-budget "B movies" and perhaps never having people see your work. (For related reading, see Why Movies Cost So Much To Make.)

Much the same was true for artists in other media. While there were quite a lot of small publishing houses, authors who wanted to make a living had to work through established publishers like Scribner's or magazine publishers like Amazing Stories and Weird Tales - and these publishing outlets were increasingly acquired and consolidated through the 60s, 70s, and 80s. When it came to media like cartoons or comics, there was likewise a limited number of venues - if you couldn't get a job with Warner Brothers, Hanna-Barbera, or Marvel, you were likely limited to self-publishing and had to hustle hard to get anyone to notice your work.




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