In what comes as a shocking revelation in the entertainment industry, Disney has announced that it is planning to lay off 7,000 workers to cut costs across the company. Disney’s CEO Bob Iger who recently took command of the company again after retiring for nearly two years announced the layoffs and company-wide restructuring on Wednesday. Bob stated that the move is “necessary to address the challenges we’re facing today” The rumours about layoffs began emerging right after Iger took over the CEO position again sidelining Bob Chapek back in November 2022 after stepping down in 2020.
Disney announces layoffs
While there have been headlines about the tech industry facing major layoffs due to the economic slowdown, this will be the first major layoff taking place in the entertainment industry. Disney is making the changes as a part of its efforts to reduce costs in a challenging economic environment. Iger revealed that the company is targeting $5.5 billion of cost savings across the company and the layoffs will help in achieving that number. However, it is not revealed which departments will be affected by the layoffs yet. The $3 billion out of the $5.5 billion target will be availed by slashing content except for sports. The remaining $2.5 billion will be made from non-content cuts like layoffs and more. Disney executives have revealed that about $1 billion in cost-cutting was already underway since the last quarter.
As of October 1, 2022, Disney employed 220,000 people thus eliminating 7,000 jobs result in about 3% of its workforce getting axed. Before the announcement, the company released an earnings report that exceeded expectations set by Wall Street. Disney clocked $23.5 billion in revenue over the three months ending in December marking an 8% growth over the same period a year prior. On the other hand, the company’s streaming service, Disney+ actually lost subscribers for the first time since its launch in 2019. The company’s streaming platform lost around $1.5 billion last quarter and dropped a whopping 2.4 million subscribers. During his call with investors, Bob Iger stated that the company will be taking a hard look at the cost of everything they make. One can expect a lot of changes to the content Disney puts out in the next year and more.
You can’t say you haven’t heard the name Disney. The mass media and entertainment conglomerate has been in the show business for about 100 years, and thanks to its iconic cartoon character ‘Mickey Mouse’, who helped them become a household name throughout the globe. The company was founded by brothers Walt Disney and Roy O. Disney on October 16, 1923, with the name Disney Brothers Studio.
Laugh-O-Gram
Disney Brothers Studios wasn’t the first company co-founded by Walt Disney. Before Disney, he started a film studio, Laugh-O-Gram, with his friend and animator Ub Iwerks. In here, Walt made a short film called ‘Alice in Wonderland, the first in his series of famous Alice Comedies. The company went bankrupt, but the short became a hit after New York film distributor Margaret J. Winkler bought it.
Walt Before Mickey
Walt’s fate changed when he got a contract to create six Alice Comedies series, but before signing it up, he decided to move from Kansas City to Hollywood. He convinced his business associate Iwerks to move, and he agreed due to the then circumstances – Walt’s brother, Roy, was recovering from tuberculosis there, and he wanted to become a live-action film director.
In 1926, the first ever official studio was established at Hyperion Avenue,and it was named Walt Disney Studio. Margaret J. Winkler, the distributor of the Alice Comedies series, handed over the distribution work to her husband, Charles Mintz. The relation between Walt and Charlez wasn’t going well, as Walt wanted to move away from the mixed format to all animation.
In 1927, Charlez decided to start a new series of films under the distribution of Universal Pictures. He asked Walt to create a new character, and as a result, along with Iwerks, he created Oswald the Lucky Rabbit, one of the peppiest artworks from the studio. Later on, Charlez decided to reduce fees of Walt instead of raising them, and it became the reason Walt backed out with Iwerks.
The Birth of Mickey Mouse
Walt lost the rights to Oswald’s character in 1928, and to conquer that, he co-created a new character who resembled Oswald in appearance, Mickey Mouse, one of the most famous cartoon characters in the world. The world thinks that Walt Disney is the man who created Mickey Mouse, but it was actually his best friend, Ub Iwerks, who designed the cartoon in 1928.
Mickey is the offspring of two fathers, Walt – the known father and Iwerks – the father who never got the limelight. Mickey is an anthropomorphic mouse who usually wears red shorts, large yellow shoes, and white gloves. He is one of the world’s most recognisable fictional characters of all time, and his calm personality is inspired by the character of Champ, portrayed by Charlie Chaplin in many silent films.
The Gutsy Move by Walt Disney
After the formation of Mickey Mouse and enjoying the success of movies from the Silly Symphonies series, Walt decided to make Disney’s first-ever feature-length animated film, Snow White and the Seven Dwarfs. When Walt decided to go for a realistic approach to make the film, his brother Roy warned him by saying it would bankrupt the studio.
However, Disney decided to trust his guts and created scenes from the movie as if they were live-action. It took Disney three years to make the movie, as the budget lifted from $0.15 million to $1.5 million. The gutsy move helped the movie to become the highest-grossing film of all time; it collected around $8 million at the box office, equivalent to $150,796,296 in 2021.
La La Disneyland
The idea of creating an amusement park came into Walt Disney’s mind when he visited Griffith Park with his daughters, Diane and Sharon. While watching them ride the merry-go-round, he started thinking about the idea of a place where adults and their children could have fun together, and the answer to his question resulted in him constructing Disneyland.
The Halt of a Walt
Walt Disney Studio and the other ventures associated with the company made Walt Disney one of the most popular personalities in the world. The pioneer of the American animation industry died on 15th December 1966 after a month-long fight with lung cancer. He was the first to be nominated for Academy Awards in six categories, and throughout his career, he won 22 Oscars from 59 nominations.
The Disney Renaissance
After the death of Walt Disney, the company continued making live-action films but almost abandoned the animation industry until the late 1980s when the “Disney Renaissance” began with the 1989 released movie – The Little Mermaid. The Renaissanceperiod was from 1989 to 1999, when the company produced critically and commercially successful animated films, mostly musical adaptations of well-known stories.
Valuation
Assets: US$203.63 billion (2022)
With over 2,00,000 employees, Disney’s current* net worth is about $98.88 billion.
Television and Entertainment Networks Owned by Disney
American Broadcasting Company (ABC)
National Geographic Channel
ESPN (Disney owns an 80% stake)
A&E (50% equity holding with Hearst Corporation)
The History Channel (50% equity holding with Hearst Corporation)
Fusion TV
NBC Universal
Disney Junior
Disney Radio
Disney Channel
Streaming Services Owned by Disney
Disney+
ESPN+
Hulu
Hotstar
ABC+
Studios and Other Companies that Disney Owns
Pixar Animation Studios
Marvel Entertainment Inc
Caravan Pictures in Hollywood
Core Publishing
Walt Disney Studios
Vice Media (10% stake)
Lucasfilm Ltd
Hollywood Records
Theme Parks Owned by Disney
Walt Disney World Resort
Magic Kingdom Park
Disney’s Blizzard Beach Water Park
Disneyland Resort
Disneyland Paris
Fantasy Land
Seven Dwarfs Mine Train
Mermaid Lagoon
American Waterfront
Mickey’s Toontown
Avengers Campus
Arendelle – World of Frozen
Image of Adventureland
Adventureland
Image of Liberty Square
Liberty Square
Image of American Waterfront
Shanghai Disneyland Park
Disney’s Animal Kingdom Theme Park
Key People
Walt Disney, Founder
Roy O. Disney, Founder
Susan Arnold, Chairwoman
Bob Iger, Chief Executive Officer
7 Interesting Facts about Disney!
Before changing its name to the Walt Disney Company in 1986, the company operated under names like Disney Brothers Studio, Walt Disney Studio and Walt Disney Productions.
When Charlez threatened Walt to start his own studio and kept most of his animation staff with him, Iwerks was the only animator who remained with Walt.
Mickey Mouse was originally named Mortimer Mouse, but Walt’s wife urged him to change it to Mickey Mouse, and the rest is history.
Disneyland Park (previously Disneyland), a theme park constructed in 1955 in Anaheim, California, is the only park designed and constructed under the direct supervision of Walt Disney.
The Jungle Book (1967) was one of the last films Walt worked on, and it remained as Disney’s most successful film for the next two decades.
The actors who voiced Mickey (Wayne Allwine) and Minnie (Russi Taylor) began dating, and the cartoon romance became real life as they got married.
When Mickey Mouse turned 50, they put him on the Hollywood Walk of Fame to celebrate his achievement in the entertainment industry. He was the first animated character to get a star on the Hollywood Walk of Fame.
The secret of getting ahead is getting started, and not every multinational company begins with huge sophisticated office spaces and wealthy founders. Some of them start their journey with hope and passion, and when it comes to choosing a start-up place within a budget, no place is better than a household garage.
Famous founders, who we idolise today, were once ordinary people who decided to achieve their dreams with exceptional drive and motivation but how they started their journey is still the talk of the town. So, here are the top 10 popular companies who began their journey from a garage and proved that great ideas could come from anywhere but works adequately if the place is your garage.
Amazon
Founder: Jeff Bezos
We all know about Amazon and who owns it, thanks to its worldwide reach and customer friendly service. It all started with one dream when Mr Bezos quit his job at a Wall Street investment firm and moved to Seattle to try his hands in the online bookselling industry, and the rest you know is history.
Currently, Amazon is the world’s largest e-commerce marketplace, but to your surprise, when Mr Jeff Bezos started Amazon in 1994, it was just an online bookstore and used to deal with only book-related sales and operations right from Bezos’ household garage in Bellevue, Washington.
Today, Jeff Bezos is one of the wealthiest guys in the world, and Amazon is one of the biggest companies in the world, but the initial days of Amazon were packed with struggle as it took them an entire year to sell their first book, which makes sense to the quote, patience is the key element to success.
Amazon began as an online bookstore and has since expanded to various other e-commerce products and services, including audio and video streaming, cloud computing, and artificial intelligence. Mr Bezos has announced he would step down from his role as CEO of Amazon on 5th July 2021 and fly to space on 20th July 2021 along with his brother, Mark Bezos.
Disney
Founders: Disney Brothers
The Walt Disney Company is well-known as a pioneer of animated cartoon films and famous for creating iconic cartoon characters like Mickey Mouse and Donald Duck. In 1923, Walt and his brother Roy moved to Los Angeles to their uncle’s house and set up their first studio, Disney Brothers Cartoon Studio, in the one-car garage and started operating from there, looks like a very humble and dedicated beginning.
The first-ever film they shot in this tiny garage was Alice Comedies, which would later inspire Disney’s Alice in Wonderland. Later on, in 1926, they changed the company’s name to The Walt Disney Company. Disney faced a lot of sorrows in its journey toward prosperity but conquered all the combats and became one of the world’s most popular and biggest entertainment conglomerates, with current worth over $200 billion.
Google
Founders: Larry Page & Sergey Brin
The world is made up of tiny matters, and you won’t believe it, but Google also followed the same path. Yes, the world’s most famous search engine and the basic need of modern life began its official journey in current YouTube CEO Susan Wojcicki’s 2,000-foot Menlo Park garage in September 1998.
Two Stanford Graduate students, Larry Page and Sergey Brin, started Google as a research project in January 1996, and after a couple of years, they decided to register the domain name www.google.com on 15th September 1997. The main goal behind creating Google was to organize and maintain all kinds of information on a single platform accessible to all people worldwide.
In March 1999, the company shifted its base along with its eight employees to Palo Alto, California, home to several prominent Silicon Valley technology start-ups. Today, Google is the most trafficked site in the world and has also launched other helpful websites, applications and devices like Gmail, Google+, Google Drive, Pixel phones and Google Nest.
Harley Davidson
Founders: William Harley & Davidson Brothers
Everyone knows about the unique and distinctive sound of Harley Davidson Motorcycles, but not everyone knows that the world’s first Harley Davidson was built in a 10 by the 15-foot wooden shed at Milwaukee, Wisconsin. The shed was equivalent to a garage because they didn’t have cars.
In 1901, 20-year-old William Harley outlined layouts for a small engine designed for use in a regular pedal-bicycle frame and started working on a motor-bicycle project for a couple of years along with his childhood friend Arthur Davidson. The project was completed in 1903 with the help of Arthur’s brother Walter Davidson, and soon they officially founded Harley-Davidson in 1903.
Harley Davidson was one of two major American motorcycle manufacturers to survive the Great Depression along with the Indian Motorcycle Manufacturing Company. Today, Harley Davidson is the most well-known and respectable motorcycle brand in the world. Their engines’ deep, rumbling and muscular sound still make people go crazy to buy these motorcycles.
Hewlett-Packard (HP)
Founders: Bill Hewlett & David Packard
Stanford University has something with developing future-oriented students, and we’re back again with another founder duo from Stanford. Bill Hewlett & David Packard were students of electrical engineering at Stanford, who later on founded Hewlett-Packard, popularly known as HP, in 1939, inside Packard’s 12 by 18 foot rented garage in Palo Alto, California, with an initial investment of $538, equivalent to $9,891 in 2020. Today, the Packard’s garage is recognised as the birthplace of HP and Silicon Valley.
The very first product HP developed was an audio oscillator (HP200A), and one of their first clients was Bud Hawkins, Chief Sound Engineer for Walt Disney Studios, who bought eight audio oscillators for testifying the surround sound systems installed in theatres for their motion picture Fantasia. Following its inception, HP has evolved into a robust and active company, developing numerous computers, laptops, printers, 3D printing solutions, and other computer-centric accessories with advanced technologies.
Apple
Founders: Steve Jobs, Steve Wozniak & Ronald Wayne
Without standards, there can be no improvement, and one should learn how to set high standards and win hearts from Apple, which is currently amongst the group of insanely popular international brands. However, it is widely believed that it was founded in the household garage in 1976 by a trio Steve Jobs, Steve Wozniak & Ronald Wayne. Apple’s first product was the Apple I computer which was designed and hand-built entirely by Wozniak.
One of their first big orders was from a local retailer who ordered 50 units of Wozniak’s Apple I computer at $500 apiece, which they hand-built in 30 days. Ronald Wayne gave up on the company before it finished the first-ever order. The first big order helped the company achieve more, and shortly the team continued to create the Apple II computer. Later on, they built a Macintosh line of products which made them millionaires.
Steve Wozniak permanently left Apple in early 1985, stating the company had been going in the wrong direction, but time proved who was going in the wrong direction. Today, Apple is worth $2.2 trillion and leading a technological revolution with its devices like iPhones, iPods, iPads, Macbooks and Mac computers; special thanks to the late Steve Jobs, who helped transform the world of computers through Apple.
Microsoft
Founders: Bill Gates and Paul Allen
Microsoft is a household name, and if you’re not aware of it, you must be living in an alternate dimension, existing in parallel to the human world. When childhood friends Bill Gates and Paul Allen founded Microsoft in 1975, they had a small garage, and they thought it’s enough space to start a coding company.
Bill Gates and Paul Allen were keen on developing programming language and software operations; they collaborated with IBM and built their first operating system and licensed it for $80,000. They decided to name the company Microsoft, short for micro-computer software, which was a suggestion from Paul Allen.
Furthermore, they developed their most popular operating system, called Windows, which currently runs on 80% of the computers in the world. Recently, the company launched its latest OS, Windows 11, the most advanced version of Windows. Today, Microsoft is worth $1 trillion, and its co-founder Bill Gates is the 2nd richest person in the world.
Dell
Founder: Michael Dell
Dell is one of the largest technology corporations in the world that develops, sells, repairs, and supports computers and related products. Still, its founder Michael Dell is not a familiar name for us like we know Bill Gates and Steve Jobs, though he’s also a college dropout like them who made a name in the computer world by designing customized computers for people. Michael Dell dropped out of school to focus full-time on his business and founded Dell Computer Corporation in 1984, headquartered in his dorm room.
The company designed the first computer of its design in 1985, the Turbo PC, and sold it for $795. Later on, Michael moved to North Austin to expand the company from his own office, which he acquired through the early profits. Over the years, Dell grew up as one of the trustworthy brands in the computer world. Currently, Dell is worth $78.05 billion and competing fairly with several computer manufacturing opponents like HP, Lenovo and Acer.
Lotus Cars
Founder: Colin Chapman
If you are a fan of competitive racing and sports cars, you must be aware of the Lotus Cars, which manufactures lightweight and fine handling sports and racing cars. The Norfolk headquartered British automotive company was founded in 1948 by then 20-years old Colin Chapman in a garage where he built his first racing car, and the first factory was situated in old stables next to the railway hotel in Hornsey, London.
Over the next few decades, Lotus emerged as one of the top racing and sports car manufacturing companies where Lotus was also involved in Formula One racing via Team Lotus, winning the Formula One World Championship seven times. Lotus encountered financial troubles after the death of Colin Chapman, and later on, it was bought by General Motors. Currently, Lotus is owned by Chinese multinational group Geely which holds a 51% controlling stake in Lotus and the remaining 49% were acquired by Etika Automotive.
Along with these 9 companies, several other companies started their journey from a Garage or even smaller space, including Mattel – a toy manufacturing company founded in 1945 and popular for products like Barbie, Hot Wheels, and more. The next on the list is Maglite – a flashlight manufacturing company which Anthony Maglica founded in 1979, and last but not least is Nike, which began as Blue Ribbon Sports in 1964 and started its journey from the trunk of a car, which is way smaller than a garage.
Getting bored with the Work From Home scenario and looking for a gateway to entertainment? Then OTT platform is the most valid answer for you. Back then, OTT was considered as a second alternative for entertainment purposes due to theatres and several other outdoor activity options, but with the arrival of Covid-19, the whole concept of entertainment has changed in a moment.
Earlier, we used to see the same bunch of actors on OTT platforms, but today, the time has come where even Bollywood Superstars want to join the OTT parade to stay relevant. Content-driven stories backed by well-executed performances eased OTT platforms to reach the peak of the success, and in the coming days, we can expect a high-level competition here as well.
The OTT platforms are packed with great content and eagerly waiting to release their most-awaited shows to keep us entertained throughout 2021. To save your valuable time, we have compiled a list of the 10 most-awaited upcoming OTT releases on Netflix, Amazon Prime Video, Zee 5, Sony Liv and Disney+Hotstar in 2021.
1. The Family Man, Season 2: Amazon Prime Originals
The series is created-directed by Raj Nidimoru and Krishna DK, the duo who entertained us previously with films like Go Goa Gone and Stree. The action-thriller series features Manoj Bajpayee as Srikant Tiwari, a middle-class man secretly working as an intelligence officer who struggles to balance his professional and personal life, the plot and the character itself was a breather from monotonous stories. The 10-episodic first season was so gripped, and the way it ended left the viewers in turmoil. Now, it’s been more than a year, and the viewers still can’t get enough of Shrikant’s life, though Season 2 was initially scheduled for release on 12th February but has been postponed until June, and the wait is still on.
2. Sex Education, Season 3: Netflix
The British comedy-drama follows the story of Otis Milburn, a socially awkward teenage son of the sex therapist mother. He starts his high school sex clinic along with Maeve Wiley, a social outcast and a classmate, to help fellow students out with their sex-related issues. Over the two seasons, a lot has happened between Otis and Maeve’s life, and after two heartbreaking season endings, Sex Education is renewed for the third season. The series has earned a lot of appreciation for their expert exploration and the way they handled sensitive topics like sexuality, family and relationships; there’s a lot to learn from the series; even adults could learn a thing or two from it. The third season is not yet officially scheduled to release, but it is rumoured to release in June or July of this year. Till then, keep your fingers crossed and buzz about the fate of Otis and Maeve’s relationship.
3. Rudra – The Edge of Darkness: Disney+ Hotstar
Disney+ Hotstar has done a decent job creating successful shows like Criminal Justice, Aarya, Special Ops, and now they’re venturing out with Rudra: The Edge of Darkness, starring one of the biggest superstars of Bollywood, the action-hero Ajay Devgn. The series is an official remake of English actor Idris Elba’s psychological crime drama television series Luther, which has five seasons. Ajay Devgn will be seen in a role of a city cop, and the series will be his grand entry into the digital space. The series is produced by Applause Entertainment, renowned for making mind-blowing shows like Criminal Justice, Scam 1992: The Harshad Mehta Story, Hostages and The Office.
4. Stranger Things, Season 4: Netflix
Created by the Duffer Brothers, Stranger Things is a popular American science-fiction horror television series set in the 1980s in the fictional town of Hawkins, where the story helps us explore the concept of a parallel dimensional world, referred to as the upside-down. Stranger Things has attracted record viewership on Netflix and has a broad, active and international fan base. One of the main leads from the series, Millie Bobby Brown, who played the character of Eleven, emerged as a teenage sensation. The third season quite ended on a sad note, and ever since, fans have been waiting desperately for season 4 as it will showcase Jim Hopper’s fate and the forthcoming threat in Russia.
5. Kota Factory, Season 2: Netflix
Created by TVF Originals, Kota Factory is one of the most popular and celebrated web series in India, starring newbies Mayur More, Ranjan Raj, Alam Khan in the lead, along with TVF’s veteran-star Jitendra Kumar. The comedy-drama about IIT aspirants is set in Kota and follows the story of a 16-year-old Vaibhav, played by Mayur More and what happens ahead when he shifts to the Hostel in Kota. The first season was released on the TVF app and YouTube simultaneously and received a fantastic response from critics, complimenting the monochrome setting and the realistic portrayal of coaching centres in India. The series has been renewed for another season, but this time on Netflix.
6. Special Ops 1.5, Season 2: Disney+ Hotstar
Created and directed by acclaimed Bollywood director Neeraj Pandey, Special OPS is an espionage-thriller web series. The series stars Kay Kay Menon as Himmat Singh in the lead and follows his work in the Research and Analysis Wing. His task force team of five agents living in various parts of the world aims to catch the mastermind of several similar patterned terrorist attacks. The plot is inspired by several espionage missions undertaken by India in the last two decades. After the success of the first season, Disney+ Hotstar is developing a prequel of Special Ops that will follow the prior life of its lead, Himmat Singh.
7. Delhi Crime, Season 2: Netflix
The only Indian web series to win a precious International Emmy Award for Outstanding Drama Series, Delhi Crime, is a Netflix Indian original series created by Richie Mehta. Starring Shefali Shah in the lead as DCP Vartika Chaturvedi, the series is based on the 2012 Delhi gang-rape case that took place in South Delhi. The series follows the story in the aftermath of the gang rape, where Delhi Police strives to find out the culprits guilty for the attacks and death of the female victim. The new season is already in the production work, and it will be a distinct project, focussing on a new set of characters and a fresh story on a new crime.
8. Sunflower: Zee5
Sunflower is a Zee5 original, quirky black-comedy web series directed by Vikas Bahl and will feature actor-comedian Sunil Grover in the lead. Produced by Good Co and Reliance Entertainment, the story revolves around a middle-class housing society in Mumbai called “Sunflower”, where a murder occurs. The murder mystery is scheduled to be released on 11th June 2021.
9. Ray: Netflix
Directed by Ishqiya director Abhishek Chaubey along with Cannes nominee Vasan Bala and National Award winner Srijit Mukherji, Ray is an anthology web series that includes an adaptation of four short stories from celebrated filmmaker and writer Satyajit Ray. The series features a mixed genre, where stories will take us through from a satire world to a psychological thriller. The series features a stellar cast, from Manoj Bajpayee, Gajraj Rao, Kay Kay Menon, Harshvardhan Kapoor to Ali Fazal and many more. Abhishek Chaubey has directed the part featuring Gajraj Rao and Manoj Bajpayee, while Srijit Mukherji and Vasan Bala have helmed other segments of the anthology.
10. Finding Anamika: Netflix
The upcoming thriller-drama web series is created by Bejoy Nambiar, and Karishma Kohli marks the debut of Madhuri Dixit-Nene into the OTT world. Along with Madhuri, the suspenseful family drama stars Sanjay Kapoor, Manav Kaul, Lakshvir Saran, Suhasini Muley and Muskkaan Jafari in the lead. The story will follow the journey of a global superstar vanishing into a void.
