The Walt Disney Company, commonly known as Walt Disney or simply Disney (), is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios in Burbank, California. It is the world's largest media conglomerate in terms of revenue, ahead of NBCUniversal and WarnerMedia, which are owned by telecommunications giants Comcast and AT&T respectively.Disney was originally founded on October 16, 1923 by brothers Walt and Roy O. Disney as the Disney Brothers Cartoon Studio; it also operated under the names The Walt Disney Studio and Walt Disney Productions before officially changing its name to The Walt Disney Company in 1986. The company established itself as a leader in the American animation industry before diversifying into live-action film production, television, and theme parks.
Since the 1980s, Disney has created and acquired corporate divisions in order to market more mature content than is typically associated with its flagship family-oriented brands. The company is known for its film studios which include Walt Disney Studios, Marvel Studios, Lucasfilm, 20th Century Fox, Pixar, and Walt Disney Animation Studios. Disney's other main divisions are Disney Parks, Experiences and Products, Disney Media Networks, and Walt Disney Direct-to-Consumer and International. Disney also owns and operates the ABC broadcast network; cable television networks such as Disney Channel, ESPN, Freeform, FX, National Geographic network, and A&E Networks; publishing, merchandising, music, and theater divisions; and Walt Disney Parks and Resorts, a group of 14 theme parks around the world. The company has been a component of the Dow Jones Industrial Average since 1991. Cartoon character Mickey Mouse, created in 1928 by Walt Disney and Ub Iwerks, is the company's mascot and one of the world's most recognizable characters.