On October 16, the Walt Disney Company celebrated its 100th anniversary. Boasting over 200,000 employees and a market capitalization exceeding $150 billion, Disney has grown into one of the world’s most influential and prosperous media conglomerates. Nonetheless, its achievements were far from guaranteed. In the not-so-distant past, Disney faced severe challenges that nearly led to its downfall. While astute business executives, including the company’s iconic founder, played critical roles in Disney’s journey, the company’s survival and longevity owe much to its storytellers—animators, actors, writers, songwriters, directors, and producers, among others.

Established in 1923, the Walt Disney Company, previously identified as Walt Disney Productions from 1929 to 1986, initially operated as an independent producer, collaborating with major Hollywood studios for distribution. This partnership allowed Disney to share its animated shorts and later, feature films with a broad audience.

In a notable move in 1953, Disney established its distribution company, Buena Vista, granting it complete control over the release and distribution of its productions. Concurrently, Walt Disney hosted the influential television series “Disneyland” on ABC. This series not only financed the establishment of Disneyland in Anaheim, which welcomed visitors in 1955, but also played a crucial part in promoting the newly created theme park. Disney’s comprehensive merchandising approach expanded its range of entertainment offerings and facilitated effortless cross-promotion.

Challenges arose after the visionary founder, Walt Disney, passed away in 1966. While some films, like “The Jungle Book,” performed well, the majority of productions in the 1970s, including “Pete’s Dragon” (1977) and “The Fox and the Hound” (1981), receiving a blend of both critical reviews and disappointing commercial performance, the film production faced a slowdown. As a result, executives shifted their attention towards the lucrative theme parks, like Walt Disney World in Florida, which commenced operations in 1971.

During this period, Disney recognized the challenge of maintaining its family-friendly image as teen-oriented blockbusters from directors like George Lucas and Steven Spielberg gained popularity. Although Disney initially turned down the opportunity to produce “Star Wars” in 1977, it eventually created its space-age fantasy film, “The Black Hole,” in 1979, which was less impressive.

Referred to as Disney’s “Dark Ages,” the 1970s and early 1980s were marked by creative failures and financial setbacks. Nevertheless, the company attained achievements in different domains, opening EPCOT in Florida in 1982 and licensing Tokyo Disneyland in 1983. Disney also ventured into television, launching The Disney Channel in the same year and establishing Touchstone Films in 1984, focusing on adult-oriented entertainment.

Despite Disney’s struggles in the film industry, its theme parks and film library remained valuable assets. Executives thwarted a hostile takeover attempt by Saul P. Steinberg, resulting in a change of leadership, Michael Eisner and Frank Wells assumed control.

Eisner’s leadership ushered in the “Disney Renaissance,” emphasizing storytelling’s importance. Success in adult-oriented films like “Splash” (1984) and “The Golden Girls” (1985-1992) was achieved. Animated feature films, initially met with reservations, were maintained due to Roy E. Disney’s persistence, and home video evolved into a profitable income source.

Disney’s animation department showed signs of revival in the 1980s, incorporating computer-generated imagery and delivering action-adventure narratives. The infusion of theatrical expertise in “The Little Mermaid” (1989) and “Beauty and the Beast” (1991) marked a turning point.

Subsequent releases like “Aladdin” (1992) and “The Lion King” (1994) continued the blend of theater and animation with critical acclaim and commercial success. Feature animation became the core of Disney’s operations, impacting music, television, publishing, and theme parks.

In essence, storytellers played a pivotal role in Disney’s “Renaissance,” driving investment in innovative storytelling and technology. Under Robert Iger’s leadership, Disney acquired popular media franchises, evolving into a storytelling powerhouse.

As Disney faces uncertainties in the streaming industry and cost-cutting initiatives, the fate of storytellers remains unclear. The question of whether Disney will stand by its storytellers looms large as it adapts to the changing media landscape. Disney’s enduring success is intrinsically tied to the creative power and vision of its storytellers.