I'm delighted to share with you that fiscal 2007 was another outstanding year for your Company, enlivened by significant creative and financial achievements to make all of us proud. Disney's strong performance — across business divisions and around the world — is a tribute to the men and women of The Walt Disney Company and the great experiences they deliver to consumers. Their passion to excel is admirable, and their commitment to quality is as consistent as it is remarkable.
In 2007, we advanced our strategic priorities, strengthening our financial results, growing the value of our brands, enhancing our ability to meet critical challenges and building a solid foundation for future growth.
Creativity and innovation are at the root of everything we do, and in 2007 the creativity on display across the Company was simply amazing.
Disney Channel was a big source of that great creative energy. High School Musical 2, which premiered in August, was the highest-rated cable movie of all time and extended what has in two years become a true global franchise. Hannah Montana has emerged as one of cable television's most successful programs, with its star, Miley Cyrus, breaking out as a top Disney recording artist and concert performer.
At our Studios, Pirates of the Caribbean: At World's End was the No. 1 movie of 2007 in global box ofice while Ratatouille was the best reviewed film of the year. Ratatouille earned more than $600 million in worldwide box office, making it the third-highest-grossing Pixar movie of all time. And, as I write this letter, Enchanted is enchanting critics and movie goers alike, and we are delighted with its initial success!
There's nowhere the excitement and magic of Disney comes to life quite like at our Parks and Resorts and 2007 was no exception. The Year of a Million Dreams has been resonating strongly with our Cast Members and Guests, so much so we are extending it into this coming year. At Disneyland, Finding Nemo Submarine Voyage has been delighting Guests and stands as another great example of Pixar's creative strength at our parks. Our next Pixar attraction, Toy Story Mania!, opens this year in California and Florida.
Our Consumer Products division continued to come up with new ways to showcase our characters and stories through quality products that appeal to a wide range of consumers. Last year, licensed merchandise sales posted solid growth, led by our Cars and High School Musical franchises.
Top: Robert A. — Iger President and Chief Executive Officer, The Walt Disney Company.
Middle: High School Musical is a hit with kids on every platform from television and DVD to video games and consumer products.
Bottom: Disney•Pixar's Ratatouille
