Disney won at the box office in the last decade. Now it wants to conquer streaming
The entertainment giant's success dates back to a series of strategic acquisitions over the past decade that set Disney up to win in movie theaters and beyond. In 2009, the company bought Marvel for $4.3 billion in a bid to widen its entertainment assets with comic book characters such as Iron Man, Captain America and Thor.
The deal came just three years after Disney had purchased animation studio Pixar, known for titles including "Toy Story" and "A Bug's Life," for $7.4 billion. In 2012, the company spent an additional $4.05 billion on Lucasfilm, the studio behind the "Star Wars" and "Indiana Jones" franchises.
Disney is making an effort to compete. In the last year, it closed a $71 billion acquisition of 21st Century Fox's entertainment assets, launched the Disney+ streaming service, gained complete control of Hulu and released the highest-grossing movie in cinematic history, "Avengers: Endgame." It also launched a separate sports streaming service, ESPN+, in April 2018.