In a recent opinion piece for The Hill, Jonathan Turley revealed that Disney, in a recent SEC filing, admitted that the company’s woke push has drastically impacted its bottom line.
“In a new corporate disclosure, Disney acknowledges that its controversial political and social agenda is costing the company and shareholders,” Turley writes.
Turley cites Disney’s SEC filing this week that acknowledged some mistakes leading to losses potentially stretching into billions with the following statements:
“We face risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel and consumer products, which impact demand for our entertainment offerings and products and the profitability of any of our businesses.”
“We face risks related to changes in our business strategy or restructuring of our businesses, which have affected and may continue to affect our cost structure, the profitability of our businesses or the value of our assets.”
From The Hill:
That is the problem with the invisible hand. 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.
The question is how long Disney (or its shareholders) can tolerate falling revenues tied to its “misalignment with the public.” It is a massive corporation and it 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.
Read the full op-ed below:
Disney acknowledges in recent filings that its controversial political and social agenda is costing the company and shareholders. The company is concerned that "invisible hand" of Adam Smith is effectively giving the “House of Mouse” the middle finger. https://t.co/KiJ85k9s9q
— Jonathan Turley (@JonathanTurley) November 25, 2023
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