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Why Acquiring 'Star Wars' Was One Of Disney’s Greatest Purchases

Disney’s storied history in the film industry skyrocketed in the 21st century, most recently with its purchase of one of the greatest franchises, 'Star Wars.'

By Isaac ShapiroPublished 7 years ago 5 min read
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From Pixar to Marvel to Star Wars; Disney has acquired some of the biggest businesses in entertainment. Over the last few years, Disney has worked hard to expand its horizon to encompass many different business aspects. By absorbing the companies, as well as their followings, Disney is becoming the pinnacle of many different fan bases in various genres of media and entertainment. The history and success of Disney coupled with the legacy of Lucasfilm set the Star Wars franchise up for the 2012 rebirth while still keeping to the importance of the series. George Lucas gave the world a whole new standard of filmmaking and viewing, and Disney is going to keep those expectations high with The Force Awakens,Rogue One, and more for years to come.

Ever since that fateful day on May 25, 1977 when George Lucas unleashed his box office juggernaut Star Wars, it has become an internationally well known and loved franchise. Any filmmaker who starts his science fiction epic with the label “Episode IV” is thinking larger than life. When it first debuted on the big screen over 30 years ago, Star Wars delivered on that large scale promise with bigger effects, bigger sounds, and a bigger fantasy world than the big screen had ever seen before. Star Wars’ initial release was followed by another slew of blockbuster films and a mini-industry of tapes and DVDs, toys, video games and books. Taken together over its 30 years of cultural dominance, the Star Wars franchise has earned more than $30 billion. And that number will just keep growing.

More Than Movies

Thanks to the incredible longevity of the Star Wars brand, kids today are nearly as hungry for plastic light sabers and X-wing flight models as they were in the 1980s. Sales of games and toys have made up the bulk sales of Star Wars revenue over the last three decades and of its total revenue, only $6.68 billion has been generated at the box office. The largest chunk, more than $9 billion, has been shared by toy companies like Hasbro, who has fed the Star Wars fan base with action figures and other toys.

Lucasfilm’s success story has also helped boost the fortunes of companies like Parker Brothers, which created the first Star Wars-themed video game, and Random House, which made $200 million in revenue from the first series of Star Wars novels. But the true emperor of the Star Wars galaxy is, of course, Lucas himself. According to sources, it is estimated that the Lucasfilm mogul’s net worth is around $5 billion. His biggest box-office hit and what came to seal Lucas as a Hollywood film legend is the epic Star Wars franchise, which has earned well over $5 billion in worldwide revenue from all six films. Though he only directed six films in total, Lucas has acted as producer, executive producer and writer on several films including: Labyrinth, The Land Before Time, and The Indiana Jones film franchise.

Lucas' Outlook

On October 30th 2012, George Lucas announced that he signed a deal to sell his entire Lucasfilm company to Disney for a $4 billion. Lucas owned 100 percent of the company which means the entire $4 billion went into his pockets. The Father of Star Wars expressed happiness when it came to his decision to sell Lucasfilm to Disney. "I'm completely confident that Disney will take good care of the franchise I've built," Lucas said in an interview, "At the same time, for me, I look at it as I'm investing in Disney, because that's my retirement fund."

Lucas went on to say, "For the past 35 years, one of my greatest pleasures has been to see 'Star Wars' passed from one generation to the next," Lucas said in a statement. "It's now time for me to pass 'Star Wars' on to a new generation of filmmakers. I've always believed that 'Star Wars' could live beyond me, and I thought it was important to set up the transition during my lifetime."

Next Gen Filmmakers

That next generation of filmmakers has grasped this responsibility in full force and have went on to produce the first film in the Star Wars sequel trilogy. The Force Awakens was one of the most anticipated installments in the franchise. Fan favorites like Carrie Fisher and Harrison Ford resurfaced on the big screen in the film as their original characters, Leia Organa and Han Solo. Newbies like Daisy Ridley portrayed the never before seen characters, such as Rey. The trailers, merchandise and marketing instilled a hysteria within the Star Wars fandom. The Force Awakens was the first film since the announcement that Disney had acquired Lucasfilm in 2012. The film was budgeted at about $200 million and was definitely the box office hit that it was expected to be, raking in just shy of $2 billion.

Rogue One: A Star Wars Story premiered almost a year to the day that The Force Awakens hit theaters. With Felicity Jones as Jyn Erso taking the lead role, the stand alone story is putting women in charge, in contrast to the generally male dominated cast.

Unlikely Disney Heroes

Disney Chairman and CEO Robert Iger and George Lucas set the financial world and nerd-iverse on their ear when they announced that Disney was purchasing Lucasfilm but the move was certainly wise for Disney, which now adds one of the most enduring and profitable sci-fi franchises to its books. While Lucas and Disney have had a long relationship, it has been most visible at the company's theme parks, where Star Tours and other attractions have been popular for more than two decades. Now Lucasfilm joins Pixar, which Disney acquired in 2006, and Marvel, which Disney acquired in 2009. Luke Skywalker and Han Solo will now be joining Mickey Mouse, Buzz Lightyear and Iron Man in Disney's roster of heroes as a result of the deal with George Lucas.

Disney's empire is shaping up nicely, don't you think?

Using Marvel as a model, Disney plans to grow international marketing of Star Wars products by increasing the brand's presence in their stores, with more toys and with other products. With the addition of Lucasfilm to Disney’s portfolio of world class brands, it significantly enhances the company’s ability to serve consumers with a broad variety of the world’s highest-quality content and to create additional long-term value for their shareholders.

With the acquisition of Lucasfilm and Star Wars, Disney has proven that they only plan on expanding throughout the 2010s. Who knows what will happen in the 2020s?

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About the Creator

Isaac Shapiro

When not scrounging the internet for the best content for Jerrick Media, Isaac can be found giving scritches to feathery friend Captain Crunch.

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