The studio is a subsidiary of Marvel Entertainment, a wholly owned subsidiary of The Walt Disney Company. Being a part of the Disney conglomerate, Marvel Studios works in conjunction with The Walt Disney Studios, another Disney unit, for distribution and marketing. For financial reporting purposes, Marvel Studios is reported as a part of Disney's Studio Entertainment segment.
Marvel Studios includes numerous units and joint ventures, both operating and defunct: Marvel Television, Marvel Animation, Marvel Music, MVL Productions LLC, and MLG Productions. Among the many animated, television, feature film and music releases, the studio has been involved in three Marvel-character film franchises to have exceeded one billion dollars in North American revenue: the X-Men, Spider-Man, and Marvel Cinematic Universe multi-film franchises, with X-Men and Spider-Man licensed out to 20th Century Fox and Columbia Pictures respectively. Marvel Studios' films are currently distributed by Walt Disney Studios Motion Pictures, and by Universal Pictures for the Hulk films.