The House of Mouse has been prancing and dancing to a new tune in recent years as it signaled a strong stance favoring radical cultural changes. The more left the culture moved, the more Walt Disney Co. joined in to support the shift.
From cartoon characters to movies to actors at its theme parks, Disney has embraced leftist ideology and openly promoted its new values to audiences. Like the fireworks show after the parade at Disney World, the company helped spark cultural changes.
And like wayward pyrotechnics, Disney’s new direction lit a fire of backlash among audiences who didn’t like the changes. That translated to less revenue on the bottom line for the company and questions from investors wanting answers to fiscal issues at Disney.
Now new federal filings show Disney seems to have admitted that its cultural and political has hurt the company and shareholders, according to Jonathan Turley, a George Washington University law professor and Fox News contributor. Fox news reported that Turley wrote a recent piece indicating that in a “new corporate disclosure, Disney acknowledges that its controversial political and social agenda is costing the company and shareholders.”
From Fox News:
Turley then cited a recent SEC (Securities and Exchange Commission) annual report in which Disney acknowledged that “we face risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel and consumer products.”
Disney went into detail in the filing to explain how the success of the company depends on being able to create compelling content, Turley wrote in his article. He cited Disney’s further explanation that revenues and profitability are “adversely impacted” when what the company delivers does not “achieve sufficient consumer acceptance.”
“’Further, consumers’ perceptions of our position on matters of public interest, including our efforts to achieve certain of our environmental and social goals, often differ widely and present risks to our reputation and brands,’” Turley wrote.
Loud and proud claims from the House of Mouse appear to be creating harsh results on the company’s bottom line. Turley noted that the company “reportedly lost a billion dollars just on four of its recent ‘woke’ movie flops” but has “continued to roll out underperforming movies” as revenue declined.
Turley went on to expose Disney’s agenda with its overall product line.
“Disney’s products are now viewed by many conservatives as empty virtue signaling and endless attempts to indoctrinate children,” Turley wrote. “Moreover, when the company publicly declares its opposition to a popular parental rights bill in Florida, it is moving away from a commercial to a political focus.”
Turley pointed out that Disney’s brand now has a negative association with activism among many consumers, and its iconic and “once-unassailable corporate images” are suffering from lost licensing revenue. These include Star Wars, Frozen, Toy Story, and Mickey and Friends, he explained.
- Disney reveals in a federal filing that political and social plans are hurting revenue.
- Law professor shows how consumers have turned on Disney for “empty virtue signaling.”
- Disney states that ongoing cultural stances are risky for its reputation and brands.
Source: Fox News