Sustinere, Volume 1 (2021), No. 1, pp. 113-130 Dream Bigger, Disney: Exploring the Walt Disney Company’s Future Role in Planetary Politics MARYAM REHMAN The Walt Disney Company is one of the most powerful, innovative and influential companies in the whole world. A pioneer in many respects, the Walt Disney Company has led the way in the entertainment industry for decades. This paper begins by analyzing the origins of the Walt Disney Company, with a particular focus in Walt Disney’s creative vision that led to incredibly innovative developments in the entertainment industry. It also explores the gradual decline of creative risks taken by the company after Walt Disney’s death, which may have helped the company navigate through tough financial times but also made it lose its revolutionary role and influence as a creative pioneer. Leading into the present, the paper explores CEO Bob Iger’s techniques and leadership trajectory including international park expansion and numerous company acquisitions that have helped Disney regain its financial, influential and dominant footing in the entertainment space. Its primary hypothesis centres on the crossroads that the Walt Disney Company has currently reached between its present and future role. It also demonstrates another hypothesis that the company now has the influence and financial capacity to revive its role as a creative visionary in entertainment, and establish its role in global governance by focusing its new position in corporate climate action. The paper follows these goals and hypotheses and draws conclusions that follow this trajectory from extensive research. What is most interesting about this piece is that it explores the climate crisis and the ramifications of planetary politics in global governance through the lens of one company. Rehman 114 INTRODUCTION The Walt Disney Company (WDC) is one of the most powerful, innovative and influential companies in the world. A pioneer in many respects, the company has led the entertainment industry for decades. This paper will explore why Disney can use this leadership and impact in global climate governance. Many of the WDC’s innovative strides can be attributed to the expansive vision and creative spirit of Walt Disney himself. Unfortunately, the passing of the company’s founder in 1966 caused the WDC to enter an era faced with financial challenges, mistakes, and a retreat from the creative risks it once took.1 This led to a general reduction in the radical creative pursuits that defined the WDC under Walt.2 Simultaneously, an emerging global challenge threatening the existence of life on Earth and the magical world of Disney itself caught the attention of scientists: climate change. Since 2005, under the new leadership of CEO Bob Iger, the WDC saw a significant revival from financial losses and has now entered into an era of prosperity and media dominance.3 The company also began taking action to combat climate change through the Disney Conservation Fund4 and the National Geographic Society.5 However, in order to fully reestablish its innovative role, the company must take on an even stronger leadership position in corporate climate action. While this may be difficult to achieve, I will offer four solutions. Firstly, the WDC should reinstitute Walt’s version of EPCOT and develop a model city for the future dedicated to incubating innovative technologies to combat climate change. In addition, the company should radically expand its impact in climate action and justice by investing more in existing avenues like The Disney Conservation Fund and the National Geographic Society. Furthermore, the company 1 The Imagineering Story, "What Would Walt Do," episode 2, Disney Plus, November 15, 2019, created by Leslie Iwerks, narrated by Angela Bassett. 2 The Imagineering Story, "What Would Walt Do," episode 2. 3 The Imagineering Story, "A Carousel of Progress," episode 5, Disney Plus, December 6, 2019, created by Leslie Iwerks, narrated by Angela Bassett. 4 “The Disney Conservation Fund - Fact Sheet," news release, accessed February 24, 2020, https:// wdwnews.com/fact-sheets/2018/04/20/the-disney-conservation-fund-fact-sheet/. 5 National Geographic Society, "About Us," National Geographic, accessed March 7, 2020, https:// www.nationalgeographic.org/about-us/. Rehman 115 should incorporate environmental sustainability more visibly in its content to inspire a cultural shift towards climate action among its audience. Lastly, the WDC should establish itself as a non-state actor in hybrid global climate governance. The WDC has the financial capability and the space for CEO, Bob Chapek, to establish the company as a leader in corporate climate action, while reviving its role as a pioneering and innovative company. Being a leader of the movement to save the planet from environmental destruction is perhaps the most radical dream Disney can pursue, but the company is currently in the perfect position to fulfill it. SECTION 1: THE DECLINE OF CREATIVE PURSUITS AND THE EMERGENCE OF THE CLIMATE CRISIS A Brief History of the Walt Disney Company from 1923-2005 The WDC was founded on October 16, 1923 by Walt Disney and Roy Disney as a studio for making cartoons like Alice’s Wonderland.6 Walt focused on the creative vision for the company while his brother, Roy, oversaw the business aspects and managed the finances.7 The WDC’s animation improved as they made technological advancements, adding colour to their cartoons and creating the first cartoon with synchronized sound called Steamboat Willie, which transformed the industry forever.8 The Disney brothers were always striving to improve their production standards and lead the way in the emerging entertainment industry. Through a variety of financial ups and downs, the company became successful under Walt’s optimism and drive. From the creation of Snow White and the Seven Dwarves to the Disneyland theme park, Walt removed any doubts and solidified the company’s position as a leader in the entertainment industry.9 The death of Walt Disney in 1966 shook the company to its core, as he was 6 Giannalberto Bendazzi, Foundations - The Golden Age, vol. 1, Animation: A World History (Burlington, MA: Focal Press, 2015), 51. 7 Alan Bryman, Disney and his Worlds (London, England: Routledge, 1995), 5. 8 Bendazzi, Foundations - The Golden Age, 96. 9 Bryman, Disney and his Worlds, 10. Rehman 116 both “a national institution and the fount of new ideas for the organization.”10 A team filled Walt’s place, often referred to as the Disney troika, and included Roy Disney, Donn B. Tatum and E. Cardon Walker who guided the overall direction of the company.11 Under the Disney troika’s leadership from 1966-1971, the company saw a considerable increase in profits with box office successes and the opening of Walt Disney World Florida.12 This “period of stability” came to an end on December 20th, 1971 when Roy Disney passed away.13 Beginning its next phase, from 1972-1984, the WDC experienced financial struggles and a decrease in creative pursuits like theme parks. Motion pictures, which were of central importance to the company, were no longer as successful.14 Almost all analyses of this phase of the company describe it as being caught “in the grips of a paralysis in which a ‘what would Walt have done’ litmus test was constantly applied.”15 As songwriter and composer Richard Sherman explained, “we had a board of directors that was not quite sure where they were going. It was kind of a frustrating time for the creative people, because many times great projects and ideas were killed because they weren’t quite sure which direction to go.”16 During this time, the WDC also tried to keep up with a changing market of moviegoers who sought more action-packed and thrilling films, while maintaining its traditional values and family brand. For instance, the company created the Disney Channel, with hopes it would be the biggest profitable platform and opportunity since the opening of Disneyland, but low subscriptions meant the WDC lost a lot of money instead.17 The creation of Touchstone Pictures, a different 10 Bryman, Disney and his Worlds, 27. 11 Chris Pallant, Demystifying Disney: A History of Disney Feature Animation (New York, NY: Continuum, 2011), 71. 12 Bryman, Disney and his Worlds, 28. 13 Pallant, Demystifying Disney, 71. 14 Pallant, Demystifying Disney, 71. 15 Bryman, Disney and his Worlds, 30. 16 The Imagineering Story, "What Would Walt Do," episode 2. 17 Pallant, Demystifying Disney, 78. Rehman 117 label for the company to produce less family-oriented entertainment, was created, and their first film Splash was a big hit.18 However, the WDC continued to struggle, and even faced the threat of a takeover by corporate raider Saul Steinberg.19 The then-leaders of the WDC, Watson and Miller, eventually used the green mail strategy which allowed them to pay Steinberg to go away.20 Despite the prevention of the takeover, Watson and Miller faced criticism for their decisions and new leadership was considered. In 1984, Michael Eisner, a successful executive at Paramount, took over as CEO of the WDC, and Frank Wells, a lawyer with strong credentials in the film industry, became President and COO.21 Under their leadership, the WDC entered a new era of profitability and prosperity. Eisner and Wells made an incredible team that revived Walt Disney Imagineering, the group behind Disney’s theme parks and other cutting edge creative pursuits that led to the company’s advances in animation technology, for example.22 They focused on projects that made the WDC relevant for teenagers, drawing the market to their television content and theme parks. Eisner and Wells expanded the WDC’s hotels and resorts, revived the Disney Channel, and pursued the creation of a European Disneyland, or Euro Disneyland, after the success of Disneyland Tokyo in 1983.