Reuters is reporting that Siemens and Disney have signed a 12-year strategic alliance. As part of the deal, Siemens will sponsor several rides and attractions at Walt Disney World and will work with Disney to develop and apply new technologies across a range of businesses.
Reuters has an additional story on the topic detailing the reasons for Siemens taking part in this deal:
In Times Square, Siemens is replacing Sony Corp. on a big billboard run by Disney’s ABC television network. And at the
Disney-owned Epcot Center, the German company is taking over Spaceship
Earth, a golf-ball-shaped attraction that AT&T Corp. controlled for two decades.
will be putting its logo on those Disney showpieces and other prominent
properties as part of a 12-year deal aimed at boosting its brand
recognition in the United States.
The German company will also be
able to use Disney characters for conferences and other events, said
Siemens spokeswoman Paula Davis.
The companies did not disclose
financial terms of the agreement, but TSE Sports & Entertainment
President Robert Tuchman, who represents corporations in promotional
deals with sports teams and other entertainment companies, estimates
Siemens will get about $100 million in promotional and marketing rights.
"Disney is such a good brand. This is worth much more than, say, naming rights to a stadium," said Tuchman.