 | |
| Type | Joint venture |
|---|---|
| Industry | Amusement |
| Founded | 1951 |
| Founder | Walt Disney |
| Defunct | 1982 |
| Fate | Acquired by Walt Disney World Company |
| Products | Disneyland |
| Services | Amusement park |
| Owners |
|
Disneyland, Inc. (DLI) was a corporation formed to finance, build and run Disneyland park in Anaheim, California.
Disneyland, Inc. was incorporated in the State of California in 1951 by Walt Disney. A companion company owned only by Walt Disney originally called Walt Disney, Incorporated then WED Enterprises (WED) was set up in 1952 supposedly only for television production, but was used to design Disneyland and its attractions. As the board of directors of Walt Disney Productions (WDP) was questionable in its support for the project. [1] In March 1953, WDP board of directors agreed to Walt Disney's personal services contract and WED's contracts for designing and building Disneyland park attractions for cost plus overhead with three board directors resigning. [CDL 1]
The Stanford Research Institute was hired in April 1953 to determine the best park location and an amusement parks and public attractions analysis for US$32,000 [CDL 2] while WED started designing Disneyland with Bill Martin signing on to do so. [CDL 3] By July, Disney directed the institute to look at 100+ acre Southern California location. [CDL 4] Also that month, one of the Disney brothers had an initial meeting with American Broadcasting-Paramount Theatres's Leonard H. Goldenson about Disneyland financing for Disney Production film inventory. [CDL 5]
Roy met in August 1953 with the Stanford Research Institute over the Disneyland location survey's 10 possible location settling on an area along the Santa Ana Freeway in Anaheim. Soon, a 160-acre grove of orange trees, the Ball Road subdivision, was purchased for US$879 thousand. [CDL 6] An additional 270 acres were purchased for the site by a real estate agent, [CDL 7] followed by a separate purchase of 244 more acres. [CDL 8]
The first park diagram plan was completed by Marvin Davis on August 8, 1953 with Walt adding the triangular space bounding the park for the railroad. [CDL 9] On September 25, Davis finished his second version design with the hub layout. On the following day Walt and Herb Ryman started a 42-hour period in which they drew a 43x70 inch detailed aerial view. [CDL 10] During the year, Key Disney staff members toured major American amusement parks to find out what does not work. [CDL 11]
With the WED concept designs and prospectus for Disneyland, Roy Disney in September 1953 met with TV networks CBS and NBC in a deal for Disney-produced TV show and Disneyland investment. Both showed interest in the TV shows but not for the Disneyland investment. Roy then approached American Broadcasting-Paramount Theatres's Goldenson, who had pursued Disney for programming before, who agreed to the Disneyland, Inc. investment as the risk to make ABC a major network. Just a week after Disney set a record for receiving 4 Oscars on March 29, 1954, the ABC-Paramount board approved the Disney deal. Despite some WDP board resistance, WDP board approve the agreement which was signed on April 2. [1]
American Broadcasting-Paramount Theatres (AB-PT) agreed to invest $500,000 in Disneyland, Inc. taking a 34.49 percent and guaranteeing $4.5 million in bank loan plus a weekly TV programming for ABC from Walt Disney Productions. [1] [CDL 12] Joining AB-PT as Disneyland investors were Walt Disney Productions, Western Publishing and Walt Disney. The other shares were 34.48% by Walt Disney Productions (US$500,000 investment), 13.8% by Western Printing and Lithography Co (US$200,000 investment), 16.55% by Walt Disney (US$250,000 investment). [CDL 13] Walt Disney Productions had the option to repurchase the Walt Disney, WED and Western Publishing shares (31%) by May 1, 1959 for $562,500. [2] WED held ownership of the Disneyland Railroad. [3]
Disneyland was announced in April 1954 by Walt, and it was to be opened in July 1955. [CDL 14] [CDL 15]
With a need for a hotel nearby and no funding available for Disney to build it, Walt Disney approached Hilton and Sheraton Hotels about building such a hotel. Both turned down Disney as they had no idea where Anaheim was. Disney began approach prospective investors for the Disneyland Hotel in 1954 which included Jack Wrather who agreed. [4] Wrather-Alvarez Hotels, Inc. was expected to have the hotel opened in November 1955. [5]
AB-PT's subsidiary, UPT Concessions, Inc. was enlisted to operate Tomorrowland's Space Bar (original name Stratosnak) and various other concession stands in Disneyland. [6] [7] On March 29, 1955, the Atchison, Topeka & Santa Fe Railway was one of many companies that sponsored attractions in the park with its 5-year sponsorship of all Disneyland trains and stations at the park's opening agreed. [CDL 16]
Rear Admiral Joseph W. Fowler was hired in April 1954 as senior vice president for engineering and construction to oversee building Disneyland. [8] [CDL 17] Work began on the site in July with the removal of the first orange tree. [CDL 18] A 1955 strike by the Orange County plumbers and asphalt workers puts the Disneyland building schedule in jeopardy. [CDL 19]
On July 17, 1955 at 2 PM, the Disneyland park with Five themed "lands" containing eighteen attractions opened. 15 thousand guests were invited to the opening event, but it is believed that 28 to 33 thousand came to the park. The total construction cost came to $17 million. [CDL 20]
By 1955, WDP had advanced DLI $2.4 million. [2] WDI also took out its AB-PT guaranteed bank loan for $4.4 million in installment payments with the final payment in April 1962. The loan is secured by Disneyland real and certain personal properties, leasehold and the TV programming contract revenue which if Disneyland defaults AB-PT may purchase the loan. [9] On June 29, 1957, Disney Production exercised its options to purchase all but AB-PT's common stock outstanding. This allowed WDP to consolidate DLI into its 1957 annual accounting statements adding four months worth of net profits, $511K. [10]
By 1958, Walt Disney Productions reported a profit of $2.9 million, primarily attributable to its by then 65% interest in Disneyland, Inc. Additionally, Walt Disney Productions stock (which moved the year prior to the New York Stock Exchange) had grown to around $60 per share thanks to the growing realization by the financial markets of the profitability of the park.
On June 14, 1959, the WED owned Disneyland-Alweg Monorail System is installed in Tomorrowland. [CDL 21] [11]
In June 1960, Walt Disney Productions completed the purchase of AB-PT's share of the company for nearly $7.5 million and its TV contract, and the theme park became a fully owned part of Walt Disney Productions. [CDL 22] April 25, 1961 Walt Disney Productions and Disneyland, Inc. was able to pay off all existing loans.
Finally, in 1982, the Disney family sold the naming rights and rail-based attractions, owned then by Retlaw Enterprise (formerly WED), to the Disney film studio for 818,461 shares of Disney stock then worth $42.6 million to the Disney family. [3]
The investment contract for Disneyland with American Broadcasting-Paramount Theatres included programming for ABC TV, which paid $5 million per year during 7-year contract and is the largest TV package deal in history. [CDL 23]
The Walt Disney World Resort, also called Walt Disney World or Disney World, or simply abbreviated WDW, is an entertainment resort complex in Bay Lake and Lake Buena Vista, Florida, United States, governed by the Central Florida Tourism Oversight District. The resort is located within Orange and Osceola counties, and located closest to the cities of Winter Garden and Kissimmee. Opened on October 1, 1971, the resort is operated by Disney Experiences, a division of The Walt Disney Company. The property covers nearly 25,000 acres, of which half has been used. Walt Disney World contains four separate theme parks, two water parks, two mini-golf courses, and four golf courses. There are twenty-one Disney-operated resorts on the property, and many other resorts on and near the property. Disney World also contains the Boardwalk, Disney Springs, and Flamingo Crossings areas for shopping, dining, and entertainment. The Fort Wilderness area offers guests numerous outdoor recreational activities and includes the Tri-Circle D. Ranch. The ESPN Sports Complex on the property hosts a variety of activities throughout the year, including runDisney marathon races and dance and cheer competitions in partnership with Varsity Cheer.
The Walt Disney Company, commonly known as Disney, is an American multinational mass media and entertainment conglomerate that is headquartered at the Walt Disney Studios complex in Burbank, California. Disney was founded on October 16, 1923, by brothers Walt Disney and Roy Disney as Disney Brothers Studio; it also operated under the names Walt Disney Studio and Walt Disney Productions before changing its name to The Walt Disney Company in 1986. Early in its existence, the company established itself as a leader in the animation industry with the short film Steamboat Willie, which used synchronized sound to become the first post-produced sound cartoon and debuted the widely popular character Mickey Mouse, who would go on to become the company's mascot and corporate icon.
Disneyland Paris is an entertainment resort in Chessy, France, 32 kilometres east of Paris. It encompasses two theme parks, resort hotels, a shopping, dining and entertainment complex, and a golf course. Disneyland Park is the original theme park of the complex, opening in 1992. A second theme park, Walt Disney Studios Park, opened in 2002. Disneyland Paris celebrated its 30th anniversary in 2022; by then 375 million people had visited, making it the most visited theme park in Europe. It is the second Disney park outside the United States, following the opening of the Tokyo Disney Resort in 1983, and the largest. Disneyland Paris is also the only Disney resort outside of the United States to be completely owned by The Walt Disney Company. It includes seven hotels: Disney Hotel Santa Fe, Disney Hotel Cheyenne, Sequoia Lodge, Newport Bay Club, Hotel New York – the Art of Marvel, The Disneyland Hotel, and Davy Crockett Ranch.
Michael Dammann Eisner is an American businessman and former chairman and chief executive officer (CEO) of The Walt Disney Company from September 1984 to September 2005. Prior to Disney, Eisner was president of rival film studio Paramount Pictures from 1976 to 1984, and had brief stints at the major television networks NBC, CBS, and ABC.
Roy Oliver Disney was an American businessman who co-founded The Walt Disney Company with his younger brother Walt Disney. He also served as the company's first CEO and was the father of Roy E. Disney.
The Disneyland Resort, commonly known as Disneyland, is an entertainment resort in Anaheim, California. It is owned and operated by The Walt Disney Company through its Experiences division and is home to two theme parks, three hotels, and a shopping, dining, and entertainment district known as Downtown Disney.
Magic Kingdom Park is a theme park at the Walt Disney World Resort in Bay Lake, Florida. It opened on October 1, 1971, and is owned and operated by The Walt Disney Company through its Experiences division. The official park name has changed slightly over the years, from Walt Disney World Magic Kingdom (1971–1994) and The Magic Kingdom (1994–2017). The park was initialized by Walt Disney and designed by WED Enterprises. The park layout and attractions were based on Disneyland Park in Anaheim, California, and are dedicated to fairy tales and Disney characters.
John Devereaux Wrather Jr., was an entrepreneur and petroleum businessman who became a television producer and later diversified by investing in broadcast stations and resort properties. He is best known for producing The Lone Ranger, Sergeant Preston of the Yukon, and Lassie television series in the 1950s as well as marrying actress Bonita Granville.
Walt Disney Imagineering Research & Development, Inc., commonly referred to as Imagineering, is the research and development arm of The Walt Disney Company, responsible for the creation, design, and construction of Disney theme parks and attractions worldwide. The company also operates Disney Live Entertainment and The Muppets Studio and manages Disney's properties, from Walt Disney Studios in Burbank to New Amsterdam Theatre and Times Square Studios Ltd. in New York City. Founded by Walt Disney to oversee the production of Disneyland, it was originally known as Walt Disney, Inc. then WED Enterprises, from the initials meaning "Walter Elias Disney", the company co-founder's full name. Headquartered in Glendale, California, Imagineering is composed of "Imagineers", who are illustrators, architects, engineers, lighting designers, show writers and graphic designers.
Disney Experiences, colloquially known as Disney Parks, is one of the Walt Disney Company's three major business segments and a division of that company. It was founded on April 1, 1971, exactly six months before the opening of Magic Kingdom at Walt Disney World Resort in Bay Lake, Florida, just outside of Orlando.
The Happiest Homecoming on Earth or the Happiest Celebration on Earth was the eighteen-month-long celebration of the 50th anniversary of the Disneyland theme park, which opened on July 17, 1955. It commemorated fifty years of Disney theme parks and celebrated Disneyland's milestone throughout Disney parks all over the globe. The "Homecoming" name was only used for Disneyland Resort; all the other Disney Parks resorts used the "Celebration" name.
The Oriental Land Company, Limited, also known as Oriental Land is a Japanese leisure and tourism subsidiary of the Keisei Electric Railway Company, headquartered in Urayasu, Chiba, Japan where it also owns and operates the Tokyo Disney Resort. The company operates in three segments, divided as theme parks, hotels, and other business. It is a component of the TOPIX Large70 index.
Retlaw Enterprises, originally Walt Disney Miniature Railroad, then Walt Disney, Inc. (WDI), and then WED Enterprises (WED), was a privately held company owned by the heirs of entertainment mogul Walt Disney. Disney formed the company to control the rights to his name and to manage two Disneyland attractions that he personally owned. The name, Retlaw, is Walter spelled backwards.
The Disneyland Hotel is a resort hotel located at the Disneyland Resort in Anaheim, California, owned by the Walt Disney Company and operated through their Experiences division. Opened on October 5, 1955, as a motor inn owned and operated by Jack Wrather under an agreement with Walt Disney, the hotel was the first to officially bear the Disney name. Under Wrather's ownership, the hotel underwent several expansions and renovations over the years before being acquired by Disney in 1988. The hotel was downsized to its present capacity in 1999 as part of the Disneyland Resort expansion.
Walt Disney Attractions Japan is a wholly owned subsidiary of Disney Parks, Experiences and Products, one of four sectors of the American entertainment conglomerate The Walt Disney Company.
Disneyland is a theme park at the Disneyland Resort in Anaheim, California. It was the first theme park opened by The Walt Disney Company and the only one designed and constructed under the direct supervision of Walt Disney, and opened on July 17, 1955.
Harriet Burns was an American artist and designer. Burns was the first woman hired in the Walt Disney Imagineering department within the Walt Disney Company.
Shanghai Disney Resort is a themed resort in Pudong, Shanghai, China. The resort opened to the public on June 16, 2016. It is the first Disneyland in mainland China. It is also the sixth Disney resort worldwide, after Disneyland Resort, Walt Disney World Resort, Tokyo Disney Resort, Disneyland Paris and Hong Kong Disneyland Resort.
American Broadcasting-Paramount Theatres, Inc. was the post-merger parent company of the American Broadcasting Company and United Paramount Theatres.
Edward Anthony "Eddie" Sotto III is an American experiential designer, mixed-media producer, and conceptualist. Sotto was formerly the Senior Vice President of Concept Design for Walt Disney Imagineering, and is currently president of the Los Angeles design firm SottoStudios Incorporated. He also established the think tank Futureproof Experiences in 2020 to address the challenges posed to the experiential industries by COVID-19. In 2002 Sotto was named one of the thousand most creative people in America in the book 1000: Richard Saul Wurman's Who's Really Who by TED founder Richard Saul Wurman. In 2018 he addressed the TEDxBermuda event with his presentation "The How of Wow". He was also named one of the Blooloop 50 list of theme park influencers in 2020.
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