The power of content repurposing (theme parks, merch, TV, etc.) to stabilize earnings in a cyclical movie industry is hard to overstate.
Disney has been much more profitable than other studios thanks to this flywheel.
(See our full Disney study:
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🍿🎥 Average movie theater attendance by year:
1929: 46x per year
1956 (post-TV): 14x per year
Early 2000s (post-Blockbuster): 6x per year
2025 (post-streaming): 2x per year
For more charts/data see our multi-decade study on Disney:
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In the new @AcquiredFM episode on Vanguard, @gilbert, @djrosent cited our research on companies that have 100x'd since IPO.
These are history's best stocks, with a 533x avg return. The basket includes Microsoft, Amazon, Costco, etc.
Yet the experience of owning them ain't easy.
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