When it comes to digital-era investments, Disney has certainly been the most active of the major media companies (though IP represents more than 80% of total outlays). Over the past decade, the House of Mouse has bought the largest YouTube Multi-Channel Network (Maker Studios), a mobile gaming company (Playdom), several multi-media storytelling platforms (Marvel, LucasArts, Pixar), become Vice’s largest outside shareholder, doubled down on technology-driven theme park experiences (MagicBand, VR), established an annual fan expo (D23), formed an accelerator program with TechStars (Disney Accelerator) and launched an ever-expanding sandbox video game at the cost of more than $125M (Disney Infinity)