Walt Disney Co. CEO Josh D’Amaro sought to set his company apart from others in his annual presentation Tuesday by noting the chaotic state of the entertainment industry. After a The devil wears prada 2— Sizzle-inspired reel and introduction by Anne Hathaway — “The new president claims he’s prettier than Miranda Priestly. We’ll see,” she joked — D’Amaro sought to contextualize Disney’s place in the larger media ecosystem.
Amazon, Netflix, Paramount, and Warner Bros. Discovery… The past few years have seen a flurry of deals to consolidate and grow. Disney, of course, did that too. But since she closed her deal with Fox, she’s been content to rest on her laurels and rely on her strengths.
“Everyone, in their own way, is racing to put something together. Studios, streaming services, sports rights, live events. And brands that audiences feel something about,” D’Amaro told an audience of advertisers and media buyers at the Jacob Javits Convention Center. “It’s, in a way, a real compliment to this company. Because what they’re racing to put together is, more or less, an image of who we really are.”
By contrast, Disney owns the franchises, streaming service, sports, and studios. Most importantly, D’Amaro said, it has the “je ne sais quoi” that everyone seeks.
“I still remember exactly where I was standing when I first saw the castle. I can remember it in a way I can’t remember most things when I was eight,” he told the crowd. “And if you’ve ever taken a child to one of our parks, or been taken to one of our parks, you know exactly the feeling I’m describing.
He added: “This feeling, which does not fade, which becomes part of someone’s identity, this is our whole business.” “There is no focus group inventing this. No algorithm produces it. No amount of capital can buy it. This is actually what every audience, every sponsor, every brand in this room is trying to buy.”
Disney had Mickey and Minnie Mouse greet guests as they entered the cavernous space, and some attendees were lining up to take photos. Who needs a celebrity when the characters are stars too?
“The thing is, you can’t have a hundred years of trust. You can’t put generations of belonging on the balance sheet,” D’Amaro said. “Disney is a part of people’s lives in a way that few brands are. In a world of limitless choice and constant distraction, this kind of presence is rare and getting rarer.”
He added: “In a market where everyone is racing to accumulate what we already have, Disney falls into one category.”
