Disney Investor Relations - Annual Report 2003

Front row, left to right: Thomas Schumacher, president, Disney Theatrical Productions, – Nina Jacobson, president, Buena Vista Motion Pictures Group – Dick Cook, chairman, The Walt Disney Studios – Mickey Mouse – David Stainton, president, Walt Disney Feature Animation. Second row, left to right: Chuck Viane, president, Buena Vista Pictures Distribution – Harvey Weinstein, co-chairman, Miramax – Bob Weinstein, co-chairman, Miramax – Oren Aviv, president, Buena Vista Pictures Marketing – Bernardine Brandis, executive vice president, business and legal affairs – Alan Bergman, executive vice president and chief financial officer. Third row, left to right: Bob Cavallo, chairman, Buena Vista Music Group – Mark Zoradi, president, Buena Vista International and Buena Vista Home Entertainment International – Bob Chapek, president, Buena Vista Home Entertainment – Dennis Maguire, president, Buena Vista Home Entertainment International – Chris Montan, president, Walt Disney Music.

The Walt Disney Studios enjoyed one of the best years in its storied history. The studio released its most profitable live action slate ever, led by the phenomenal performance of the year’s number one live action film, Pirates of the Caribbean: The Curse of the Black Pearl. The studio also continued its legendary tradition in animation with the Disney/Pixar summer blockbuster, Finding Nemo, which became the number one animated film of all time, and the hit holiday release, Brother Bear, which reunited the musical magic of Phil Collins with the epic storytelling talents of Disney.

The studio shattered its previous best record in distribution, becoming the first in industry history to achieve $3 billion in worldwide box office. In international theatrical alone, the studio generated more than $1 billion for a record ninth consecutive year. In home entertainment markets, the studio continued to dominate the family entertainment sector, retaining its number one position. For 2004, the studio will offer another appealing line-up of new films and home video releases.