In a just-released SEC report, Disney has acknowledged that the woke political and social agendas contained in its creative product have cost the company dearly and drained the value of shareholder stock.
It all boils down to a lack of “consumer acceptance,” or more particularly general consumer perceptions “of our efforts to achieve certain…social goals, often differ widely and present risks to our reputation and brands.”
The Hill‘s Jonathan Turley: “Disney has reportedly lost a billion dollars just on four of its recent ‘woke’ movie flops, productions denounced by critics as pushing political agendas or storylines.
“Yet until now, the company has continued to roll out underperforming movies as revenue has dropped. What’s more, Disney stars persist in bad-mouthing its fabled storylines and undermining its new productions. The company admits that it has suffered a continued slide in ‘impressions’ (that is, viewership) by 14 percent.
Hurley excerpt #2: “You can bring movies to the public, but you cannot make them sell. Once an unassailable and uniting brand, Disney brand is now negatively associated with activism by a significant number of consumers. The company is now even reporting a decline in licensing revenue from products associated with Star Wars, Frozen, Toy Story and Mickey and Friends — iconic and once-unassailable corporate images.
Hurley excerpt #3: “The question is how long Disney (or its shareholders) can tolerate falling revenues tied to its ‘misalignment with the public.’ A massive corporation, Disney can lose billions before facing any truly dire decisions. Yet even Disney’s CEO, Bob Iger, now appears to be seeking to ‘quiet things down’ after years of culture wars.”