Walt Disney Company Innovations

The Walt Disney Company is the third largest media entertainment company in the world, following only Time Warner and News Corporation. Despite economic backsliding, Disney manages to haul in over $65 billion in revenues each year and may be the best example of the American Dream at work. What started as a small family-owned animation studio has turned into an empire of television stations, amusement parks, resorts, record labels and more.

"Bigger and more expensive is not necessarily the answer," explained Jay Rasulo, the chairman of Walt Disney Parks and Resorts. "You want people to leave thinking, "Wow, only Disney could do that." This is the future of the Walt Disney Company, he adds. They hope to get in on the virtual reality/video gaming market and find more ways to keep guests entertained while waiting in line. Another great experiment has been Disneyland Holiday exhibits. At Tokyo Disneyland, Tim Burton allowed the park to fuse Nightmare Before Christmas characters like Jack Skellington and Oogie Boogie with the traditional Disney Haunted Mansion ride, which has catapulted the park and the attraction into the forefront of seasonal marketing.

There are several projects being undertaken by Disney for 2008-2009. In California, the Mark VII Monorail is being developed to help transport people between parks, and new attractions for the ailing, Disneyland California park, including the Walt Disney Plaza, Walt Disney's Wonderful World of Color and the Little Mermaid Under the Sea Adventure.

Walt Disney World Orlando is changing the name of Disney MGM Studios to Hollywood Studios and is adding an American Idol attraction and Spaceship Earth is undergoing renovation at Epcot. The last major addition at Disney World Orlando was 2006's $100 million Mount Everest rollercoaster set in the Animal Kingdom. Tokyo Disneyland is adding the Monsters Inc. Ride and Go Seek attraction as well.

Perhaps the most anticipated new attraction is Toy Story Mania being developed for both American parks. In this ride, guests will board vehicles and navigate through a carnival midway, where they'll stop at several 3-D virtual reality game screens. Disneyworld executives hope to meet people's expectations and desire for instant gratification by greeting guests waiting in line with costumed cast members and a one-million-dollar singing animatronic Mr. Potato Head. Once inside, Toy Story characters like Bo Peep, Woody and the Piggy Bank will be the carnival operators. "We look at it as gaming meets immersive storytelling," explained one of the designers.

Recently, the Walt Disney Company has also set to work renovating some of its oldest Disney resorts. The Contemporary, the monolithic structure with the monorail passing through it, has just undergone a massive facelift. While the monorail, the beautiful Mary Blair ceramic mosaic and the atrium areas will remain untouched, a lot of the "loud" colors and patterns that 1960s imagineers deemed "contemporary" have been replaced with softer beiges and greens. In most of the suites, work areas and faux fireplaces have been added, along with brown and white marble floors, soaking tubs and vanity areas. The Contemporary's Disney restaurants have been extremely successful, but the Concourse Steakhouse may be replaced with an updated restaurant called The Wave.

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