On January 11, 1991, the then-head of Disney studios, Jeffrey Katzenberg, circulated an incredibly important memo about the state of the movie industry and the products they were making. It was called, “The World is Changing: Some Thoughts on Our Business,” and it had a simple purpose: to locate the root of a growing problem and to take steps to avoid falling victim to it.
Katzenberg began the memo by stating:
“As we begin the new year, I strongly believe we are entering a period of great danger and even greater uncertainty. Events are unfolding within and without the movie industry that are extremely threatening to our studio.”
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