But it takes creativity to come up with Butter Beer. Vision, driven by an understanding of one's audience, which is driven by a certain childish delight in one's own product.
But the true vision, the ability - and even the incentive! - to see the bigger picture is absent. When merchandise does make a killing, such as that recent hit 'carbon freeze yourself like Han Solo' - it is an outside vendor. An outsider, who somehow out-creatives Disney and out-understands the Disney audience. Disney itself came up with Star Wars vinylmation puppets.
You know what I have noticed?
It's the lawyers who foul things up. Entertainment lawyers got in the way of a lot of companies doing digital content for many, many years. What happened? Napster and other file sharers emerged to give people what they wanted. Then there had to be a big fight to shut the copyright infringers down, and only in the last two years or so did the entertainment world start to actually offer the digital content people wanted in a legal way that made profit for the companies owning the rights. All of this could have happened back in 2001 if the entertainment lawyers hadn't fought it.
I don't like to invoke the "What would Walt have done?" stuff but I do think Walt Disney would have been an entertainment lawyer's nightmare. He would have driven the MBAs crazy too. They would have spent all day telling him what he couldn't do and he would have spent the last ten minutes of the day firing each one of them. I don't think he would have tolerated the "We can't do that" spirit that seems to permeate the lawyer and MBA offices at Disney (and many, many other companies).
I can't speak for other businesses, but I am a small independent aquaculturist. I am willing to try all sorts of things if I think they will improve my business. I am the President and CEO and the Board of Directors and I answer to no one so I can roll the dice when I want. When I'm successful, i think I achieve things that big companies can't because I am willing to take bigger risks. When I fail I come precariously close to wiping myself out, but that's just part of my personality. I never bet more than I am willing to lose on any venture and I've had a very nice career that I am proud of.
Having shareholders means having the lawyers and the MBAs who are there to mitigate risks to the shareholders. Unfortunately, that is the downside of being a publicly traded company who has to constantly answer to Wall Street. And all of those Wall Street analysts demand report after report where Disney is cutting back this or that by 15%. People want to keep seeing that such and such has been reduced, because then they can say that profits have increased by such and such amount. I just don't know how Disney can ever get away from this cycle unless it would go to being a private company somehow...and that is not going to happen.
If you have ever owned your own business after having worked in a publicly traded company, you know how much better it is to have nothing at all to do with a place that answers to shareholders. I consider myself so lucky that I never have to be a part of that corporate culture.
I could tell you horror stories from my daughter who lives in New York and works for a publicly traded company. The things that each division is forced to do just to make the goals that the Wall Street types set is ridiculous.