It doesn't seem that long ago that Hilary Duff was The The Walt Disney Company (NYSE: DIS) Channel's shining -- well more like blinding -- star. Hilary had it all: talent, looks, and an innocence that emanates only from Disney Channel stars. But once Duff's 65-episode Disney series Lizzie McGuire peaked in 2001, she went on to other things, including a 2003 album that reached No. 1 on the Billboard 200 (the project sold 3.7 million copies), an Elizabeth Arden fragrance, a clothing line, and another album that debuted earlier this year. What that meant for Disney was that Hilary was out. It didn't take long for someone else to move in -- Miley Cyrus.

You're probably wondering why that name sounds so familiar. Well, it's because Miley Cyrus is the daughter of country singer Billy Ray Cyrus, best known for his top 40 hit "Achy Breaky Heart." Not only are both father and daughter singers, but they are also actors and show off both of their talents, together, on Disney Channel's new hit show Hannah Montana. The show premiered with 5.5 million viewers and 2.3 million tweens (kids 9-14) and became basic cable's top series in the tween demo in its first seven weeks. On the show, Miley plays a teenager trying to lead a normal life while hiding her secret, alter-ego rock star persona Hannah Montana from her classmates. Billy Ray plays her father (you can't get anymore true-to-life than that).

How are Miley and Hannah doing? According to Fortune, "The Disney Channel Hannah Montana series hasn't just been a huge hit with kids and 'tweens; it's become a ubiquitous franchise." The 2006 Hannah Montana soundtrack entered the Billboard 200 at No. 1 and has gone double platinum, with 2.2 million copies sold since October. Hannah clothes are already the No. 1 tween brand at Macy's, and her new double-CD set that serves as a soundtrack and showcase for the actress, Hannah Montana 2: Meet Miley Cyrus, has outsold American Idol winner Kelly Clarkson's new album, both released June 26, by 34,000 copies.

As if that isn't enough for a 14-year-old, Miley's The Best of Both Worlds tour kicks off October 18 and features songs that showcase Miley Cyrus as an artist as well as Hannah Montana. This best of both worlds concept seems to be a smart move for a budding star, since she is establishing her career as a solo artist (Miley Cyrus) as well as a Disney star (Hannah Montana). In a few years, she may be able to drop the whole Hannah persona and continue a singer/actress career as Miley. But for the time being, It makes you wonder if there will be any room in toy and department stores for anything without the Hannah brand-stamp come holidays. Looks like Disney Channel has become nothing more than Miley's kingdom.