As far as Marvel
Tim Beyers laid out a convincing argument for Marvel, but it didn't sway me one bit.
"Disney's licensing operation is 5.3 times bigger than Marvel's -- but its market cap is 16.6 times bigger," he argued over the weekend.
That's just silly math. Disney isn't primarily a licensing company. When it has a hit, it milks that hit mostly through its own handiwork. When High School Musical became a monster smash, Disney was able to release the soundtrack on its own label, add themed stage shows to its theme parks, and fill up its Disney Store with wares.
Speaking of those stores, Disney bought them back from Children's Place
I think it's great that Marvel can snap its fingers and have Hasbro
If Tim wants to live off comparative ratios, why not point out how Disney sells for just 1.3 times trailing revenue, while Marvel is bulking up at 3.7 times its top-line showing? Licensing is a feast for margins -- and a sweet gem for return on capital -- but Disney is still the more complete company.
If Tim insists that we fight on the same turf -- even if it means bidding adieu to Disney's huge cable, network, and theme-park businesses -- I'll still take Disney. Pirates of the Caribbean: Dead Man's Chest outgrossed any single Marvel character flick. Yes, it even topped Spider-Man, which reminds me that it has to be disheartening to see every subsequent Spider-Man sequel that Sony
Did you even know that Marvel doesn't have the most successful superhero movie of all time in this country? That honor belongs to Time Warner's
If you have to choose between superhero action flicks and family entertainment when deciding which one has the stronger legs, are you really still going to stand by Peter Parker? Your Spidey sense should be telling you to stick with the House of Mouse.
M-I-C. See these other headlines:
- Read Tim's original Marvel argument.
- Read my original Disney argument.
- And read Tim's rebuttal.
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