In 1937, Snow White and the Seven Dwarfs, Walt Disney's first full-length (83 minutes), animated film opened in Los Angeles, California. Using the story adapted from Brothers Grimms' Fairy Tales, it was the first commercially successful film of its kind.
Taking two years and $1.5 million to create, it was released for its premiere during Christmas of 1937. Disney had to mortgage his house to pay for the film's production. This followed within a span of just 12 years since the first black and white talking Mickey Mouse in Steamboat Willie (1928). link