The Walt Disney Studios is an American film and entertainment studio, and a major division of the Disney Entertainment segment of the Walt Disney Company. Based mainly at the namesake studio lot in Burbank, California, the studio is best known for its multifaceted film divisions. Founded in 1923, it is the fourth-oldest and one of the "Big Five" major film studios. The Walt Disney Studios division has prominent film production companies. These include Walt Disney Pictures, Walt Disney Animation Studios, Pixar, Marvel Studios, Lucasfilm, 20th Century Studios, and Searchlight Pictures. Walt Disney Studios Motion Pictures distributes and markets the majority of the content produced by these studios for both the theatrical exhibitions and the company's streaming services. In 2019, Disney posted an industry record of $13.2 billion at the global box office. The studio has released eight of the top ten highest-grossing films of all time worldwide, and the two highest-grossing film franchises of all time. The Walt Disney Studios is a member of the Motion Picture Association (MPA | formerly known as the Motion Picture Association of America | MPAA).