Disney paid $350 million in cash for virtual world Club Penguin last year. This year, while the rest of the world worries about rapidly declining CPMs against social media, the mouse house plans to reap cash the old fashion way: By getting your kids to make you buy them stuff.
Synergy: it’s a dirty word everywhere but inside the Magic Kingdom.
Says Disney CFO Tom Staggs about a recently-launched Club Penguin merchandise line: “It’s not launched broadly yet, so this is anecdotal, but it’s really a fairly hot property right now.”
We believe it. Remember, this is the crew that will make Miley Cyrus — better known as Hannah Montana — a billionaire by age 18.
Business Insider Emails & Alerts
Site highlights each day to your inbox.