I have always loved Disney that was until it went from an entertainment business to political activism and indoctrination. The conservative rallying cry “go woke, go broke” appears to be a reality for Walt Disney Co., as a turbulent 17-month period has resulted in its stock price dropping to a staggering nine-year low.
Disney, which has emerged as a symbol of woke culture due to its opposition to Florida’s parental rights law in March 2022, experienced a stock price decrease to $83.53 on Monday 08/28/23.
The entertainment behemoth’s market cap has suffered a substantial blow, plummeting from $350.09 billion on March 22, 2022, to $154.04 billion on Monday, August 28, 2023. This equates to a shocking $196.05 billion loss, or a 56% reduction in market cap.
Earlier this month, Disney fell short of Wall Street’s anticipated quarterly revenue.
Disney’s financial difficulties are a consequence of its March 2022 opposition to Florida’s Parental Rights in Education law, which bans the teaching of sexual topics to children from kindergarten to third grade. This is not a radical conservative idea; it’s common sense not to bring sex into the conversation at public schools at such a young age.
The law faced resistance from the LGBTQ community, who initiated the “Don’t Say Gay” campaign, which was unfounded because it wasn’t about gays. Disney Corporate was swift to join the opposition, condemning Florida Republicans for enacting the law to protect children, the very thing Disney should protect but won’t because being woke blinds one to common sense.
Florida’s Governor, Ron DeSantis, and other Republican legislators defended the law and countered Disney, stressing that the law does not single out any specific group and encourages educators to refrain from discussing sexual and gender identity issues with the youngest of students.
In February, Florida passed laws to take control of what was formerly Walt Disney World’s independent district in central Florida, something that Florida had granted to Disney only and no other company, forcing Disney now to have the same rights and privileges as other companies with no favoritism.
Amid falling profits and financial hurdles associated with its adoption of woke culture, Disney CEO Bob Iger announced substantial price increases for its online streaming services, Disney+ and Hulu, earlier this month. It’s blind to raise prices when you are in the middle of scolding the majority of your client base for their poor moral values compared to Disney’s desire to indoctrinate children rather than entertain them.
Conservative groups have boycotted Disney due to its political activism, and earlier this year, Disney reported a loss of over 4 million subscribers from Disney+ and Hulu.
Disney’s box office performance has also taken a hit. In June, it was disclosed that Disney had lost nearly $900 million on its last eight studio releases, including “The Little Mermaid” and “Guardians of the Galaxy.”
Disney’s forthcoming live-action “Snow White,” scheduled for release next year, could potentially be disastrous for the company. A branding expert issued this warning after videos of the film’s lead actress portraying the role as a feminist icon surfaced. It’s another example of taking a Disney classic and trashing it for wokeism. Everything is screaming at Disney executives to pivot from their very bad marketing and branding decisions, but they just can’t seem to do it.
Even the son of the original “Snow White And The Seven Dwarfs” director criticized Disney for its “insulting” and “woke” remake of the film.
In March, Disney implemented 7,000 layoffs from its 220,000-strong workforce in a bid to slash $5.5 billion in annual costs and streamline its business. The happiest place on earth is not happy anymore because it has swallowed a giant bottle of stupid woke pills.
Iger reassumed his role as CEO in November, succeeding Bob Chapek, who had replaced Iger in February 2020. And he served to make it worse. Stockholders lost over 50% in the value of their stock on issues that Disney has no business being in because it’s not business.
Iger’s return was seen as a desperate move to stabilize the company’s financial situation. However, his decision to increase prices for Disney+ and Hulu, coupled with the company’s continued political activism, has only further alienated a significant portion of Disney’s consumer base.
Disney’s theme parks, another significant revenue source, have also been affected by the company’s political stance. Attendance at Disney World and Disneyland has reportedly dropped, with many families choosing to spend their vacation dollars elsewhere due to Disney’s controversial positions.
The company’s decision to remove classic attractions and replace them with politically correct alternatives has also been met with backlash. For instance, the reimagining of the “Pirates of the Caribbean” ride to remove scenes deemed offensive has been criticized by longtime fans.
Disney’s financial woes have also impacted its ability to invest in new projects. The company has reportedly scaled back on its plans for new films and television shows, focusing instead on its existing franchises. This makes it impossible to finance more woke trash.
Despite the financial downturn, Disney shows no signs of changing its course. The company continues to champion fake social justice causes, with Iger stating that Disney’s commitment to inclusivity and diversity is “non-negotiable.” Well, soon stockholders will override his non-negotiable stance with common sense as they fire him, as they should.
However, as the company’s financial situation continues to deteriorate, it remains to be seen whether Disney can sustain its woke agenda without further alienating its traditional consumer base.
In the meantime, Disney’s stock continues to plummet, with analysts predicting further losses if the company does not change its approach. The “go woke, go broke” adage seems to be ringing true for Disney, a company that once stood as a beacon of family-friendly entertainment.
Just saying the obvious once again!
Follow Us