Motion picture revenues and profits came exclusives from tickets sales in theater. By 1960, television was in more than 80 percent of U.S. homes and theater attendance in steady decline. In 1973, the motion picture industry hit rock bottom: a mere 865 million tickets sold, just 4 per person. Michael Eisner was hired away from Disney`s rival paramount studios, having been passed over for advancement from president to chairperson. The film industry experienced rapid changes during the early 1980s, but for Disney, it was a time of crisis. The deal provided Disney with 20,000 acres of Florida land and the bass brothers with 200 million in Disney stock, enough to exert influence in the company. Following wail Disney’s death in 1966, Disney had essentially remained unchanged. The few films produced followed familiar stories, 1950s style silly comedies, and animated cartoons. Eisner quickly improves performance. Disney`s stock was soon trading near $120 and firm declared a 4-to-1 stock split, its first over in decade , and announced a 0.08 quarterly dividend. The value of Eisner`s compensation package for 1988, including exercised options, totaled $40 million, making him year`s highest paying executive. in 1990 Disney adopted a stock plan for top company executives. In 1992, Disney reduced the size of its board of directors from 14 to 13 members. In 1993 the film business showed real increases, while the performance of euro Disney hurt the company.
Even with Disney`s considerable financial success, the company was being criticized for its governance practices. Roy Disney voiced his support for the deal; this clearly solidifies the Walt Disney company position as dominant leader in motion picture animation. It was reported that iger first considered acquiring Pixar while Watching the character parade at the opening of hongkong Disneyland.