The Walt Disney Company or Disney is one of the major American entertainment brands that have managed to withstand the test of time. The entity has continued to stand out in its endeavor to entertain the masses over the decades (Wasko, 2013). As a diversified mass media and entertainment entity, Disney has focussed on positioning itself in the global market through elaborate strategies. This is because new competitors have emerged hence affecting the company’s competitiveness in the media world.
Much of Disney’s productions have ridden on the company’s unique brands. Its intellectual property, especially for favorite animation characters like Mickey Mouse, Goofy, Donald Duck and others have endured the test of time and continue to entertain the contemporary market. In Disney’s intent to appeal to new markets through other media platforms, the company has borne the brunt through the loss of subscribers on ESPN (Entertainment and Sports Programming Network of Disney) (Associated Press, 2005). This is because the company introduced relatively costly charges for content aired by other sports viewing platforms including the internet. Additionally, much of the entertainment showcased by Disney is highly passive instead of interactive to capture the modern day consumers. Many of the consumers are keen on thriving on interactive platforms such as the internet and other technologies. The company has failed to understand how to exploit the emerging consumers who make up the Generation Y (Wasko, 2013). Additionally, much of its strategies in the recent days are said to have alienated the baby boomer generation. The incorporation of an interactive approach, the company, has been faulted for implementing the stated strategy by not doing it entirely. This may make it hard for the company to catch up with the much innovative entities.
Delegate your assignment to our experts and they will do the rest.
When it opened on July 17, 1955, the company was “wildly innovative” with use of “robotic figures, holographs and panoramic movies in circular theatres to sin stories for children” (Associated Press, 2005). However, much its success can be said to have been based on the lack of viable competitors. To beat the competition in recent days, the company has focussed on a multinational strategy. This has seen it invest in new markets.
The company, nevertheless, may turn its fortunes by focussing on cost, quality, innovation, and strategic alliances. In the case of ESPN, the company must concentrate on introducing competitive prices that can see many individuals subscribe to it. However, the price restructuring must not lead to the compromise of quality of content relayed to the end consumer (Sandlin & Garlen, 2016). Quality is a key selling point when it comes to mass media. The quality can be enhanced by regular reviews and purchase of quality content from animators, movie production companies et cetera.
The company must also focus on carrying out feasibility studies that will denote whether their future growth is assured. This will be fundamental in informing strategic alliances involving other players in the entertainment industries. To penetrate into new markets, the company may opt to look for local companies for purposes of outsourcing. The partnerships will bring forth synergy that will help the company easily exploit new markets (Sandlin & Garlen, 2016). It will also be fundamental to create partnerships with local entities that will ensure that the Disney investments such as theme parks which have a local or cultural angle to them. This is fundamental given that Disney is in different markets such as China who have a different culture which may demand a different yet cultural-sensitive approach. This is central in any expansionist agenda across the world. The content relayed must also be consistent with the local social norms and beliefs.
References
Associated Press. (2005, July 15). 50 years later, Disneyland faces a challenge . Retrieved from http://www.nbcnews.com/id/8573158/ns/business-us_business/t/years-later-disneyland-faces-challenge/#.Wx7hy9RuYdU
Sandlin, J. A., & Garlen, J. C. (2016). Disney, culture, and curriculum . New York, NY: Routledge.
Wasko, J. (2013). Understanding Disney: The Manufacture of Fantasy . New York, NY: John Wiley & Sons.
