Walt Disney Pictures is an American film production company that is a subsidiary of the Walt Disney Studios, a division of Disney Entertainment, which is owned by the Walt Disney Company. Founded on October 16, 1923, the studio is the flagship producer of live-action feature films within the Walt Disney Studios unit and is based at the Walt Disney Studios in Burbank, California. Animated films produced by Walt Disney Animation Studios and Pixar Animation Studios are also released under the studio banner. Walt Disney Studios Motion Pictures distributes and markets the films produced by Walt Disney Pictures.