Spirited Away, a 125 minute animation released in 2001 by Walt Disney, is one of my favorite movies form my childhood. As the world’s second largest broadcasting and cable company, Walt Disney Company, which is also commonly known as Disney, is an American diversified multinational mass media corporation. Nonetheless, producing mass media products is indeed expensive and risky, therefore, all media producers should work hard to assume the costs/risks as well as minimize the chances for failure. One of the ways that Disney does so is to adopt strategy of risk reduction. Firstly, the company diversifies through conglomeration. Individual companies join together and become a part of much larger corporations, which own a collection of other companies that may operate in diverse business areas. For example, Marvel Entertainment, an American entertainment company formed from the merger of Marvel Entertainment Group, Inc and Toy Biz, Inc., was acquired by The Walt Disney Company for $4 billion in 2009. Such acquisition is a vertical integration of The Walt Disney Company. Secondly, Disney animated films also adopt synergy and cross promotion. Cross promotion is a form of marketing promotion where customers of one product or service are targeted with promotion of a related product. One example from The Walt Disney is the movie Frozen which cross-promoted other products such as its related books, video games and toys. Same strategy applies to Spirited Away, an animation that has also led to great profit in its related products such as CDs. Synergy on the other hand, is promoting using different products. Lateral synergy is one which one company collaborates with another to promote. For example, Disney has been working with Game Mill to create and market its movie-related games. Vertical synergy is one where the company uses its own name or company to promote. For example, Disney has been using Disney Records to make popular CDs for shows such as Hannah Montana and movies with spectacular soundtracks such as Spirited Away. As Disney broadens its influence in the field of media through concentration of ownership, many people may question the drawbacks such as the lack of content