“It’s not share of market. It’s share of mind that counts.”Warren BuffettThe happiest place on earth. It is near impossible to replicate Disney’s share of mind even if you have all the money in the world.The Disney name is well-known to billions of people. It has a meaning, an emotion perhaps, attached to it globally.It is hard to find another brand that is unanimously known as the happiest place on earth.With Disney+, it is now able to ship this happiness at an unprecedented scale.In Berkshire’s 1996 annual general meeting, Buffett explained why Disney makes money for shareholders. Unlike many other movie companies.Most movie companies are able to make a lot of money. But they make a lot of money for everybody else (e.g. acting cast, directors, etc) except for the shareholders.Buffett shares, “The nice thing about the mouse (Mickey) is that he doesn’t have an agent… He is not there renegotiating (his salary).. every week or every month and saying, “Just look at how much more famous I’ve become in China.””From 2006 to 2019, Disney made 44 films. Each film brought in an average of…$850 million!“The single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.”Warren BuffettFor Disney, let’s take a look at their pricing power pre-COVID19.Like clockwork, Disney theme parks, hotels, and cruise has been able to raise prices at approximately 5% per year.Coming off a low base, Disney+ is set to raise its price from $6.99 to $7.99 after just 1 year since launch. In sales, it is always easier to sell an incremental dollar…