The Walt Disney Company
In 1928, to recover from the loss of Oswald the Lucky Rabbit, Disney came up with the idea of a mouse character named Mortimer while on a train headed to California, drawing up a few simple drawings. The mouse was later renamed Mickey Mouse (Disney's wife, Lillian, disliked the sound of 'Mortimer Mouse') and starred in several Disney produced films. Ub Iwerks refined Disney's initial design of Mickey Mouse. Disney's first sound film "Steamboat Willie", a cartoon starring Mickey, was released on November 18, 1928 through Pat Powers' distribution company. It was the first Mickey Mouse sound cartoon released, but the third to be created, behind "Plane Crazy" and "The Gallopin' Gaucho". "Steamboat Willie" was an immediate smash hit, and its initial success was attributed not just to Mickey's appeal as a character, but to the fact that it was the first cartoon to feature synchronized sound. Disney used Pat Powers' Cinephone system, created by Powers using Lee de Forest's Phonofilm system. "Steamboat Willie" premiered at B. S. Moss's Colony Theater in New York City, now The Broadway Theatre. Disney's "Plane Crazy" and "The Gallopin' Gaucho" were then retrofitted with synchronized sound tracks and re-released successfully in 1929.
Mickey Mouse
Mickey Mouse was created as a replacement for Oswald the Lucky Rabbit, an earlier cartoon character created by the Disney studio for Charles Mintz, a film producer who distributed product through Universal Studios. In the spring of 1928, with the series going strong, Disney asked Mintz for an increase in the budget. But Mintz instead demanded that Walt take a 20 percent budget cut, and as leverage, he reminded Disney that Universal owned the character, and revealed that he had already signed most of Disney's current employees to his new contract. Angrily, Disney refused the deal and returned to produce the final Oswald cartoons he contractually owed Mintz. Disney was dismayed at the betrayal by his staff but determined to restart from scratch. The new Disney Studio initially consisted of animator Ub Iwerks and a loyal apprentice artist, Les Clark, who together with Wilfred Jackson were among the few who remained loyal to Walt. One lesson Disney learned from the experience was to thereafter always make sure that he owned all rights to the characters produced by his company.