Pros
Disney is the only true brand in the entertainment industry and its worldwide reach and visibility (coupled with the fact that it's the second most recognizable brand globally after only Coca-Cola) mean that no matter what your job function, people are suddenly interested in what you do...not to mention it looks great on a resume. The company is extremely strategic in its direction, and even the highest level initiatives are communicated to all staff; at the corporate level, there's a lot of exposure to different groups as well as executive management. Disney is a company that champions innovation and creativity, and those values are reflected in allowing employees to really work beyond the scope of their direct job responsibilities to lead projects and initiatives regardless of role. Benefits are excellent, including unlimited admission to Disney theme parks, and "celebrations" are a big part of the culture. Disney is a Fortune 100 organization that, while huge, really goes out of its way to make every employee feel like a member of the family.
Cons
Although management is taking agressive action to combat this perception, including introducing virtual workplaces and flex scheduling, the work-life balance in many groups isn't great, and you're often expected to work very long hours. The pay is very competitive for the entertainment industry, but well below market value in other industries. The company is also extremely decentralized, so it's often difficult to gain exposure to other business units and employees who aren't in your group...many roles are extremely siloed (but the company definitely champions internal growth and rotational exposure to all lines of businesses). There's little uniformity in business practices, policies, etc. between the different businesses, so it can feel a little overwhelming. Also, everyone is extremely well credentialed and best-in-class as Disney believes in strategically hiring the best talent for every role, so be prepared for a very competitive corporate culture.