DETROIT (ChurchMilitant.com) – Disney is admitting its political stances have put the company at risk as it continues to flop at the box office in 2023.
The Walt Disney Company acknowledged its disconnect with consumers in its latest SEC filings as the once-powerhouse brand continues to face pitfalls over its self-destructive ideological push.
Disney wrote in the report, “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.”
It also recognized that “the success of our businesses depends on our ability to consistently create compelling content” and “[it] face[s] risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel and consumer products.”
CEO Bob Iger announced earlier this month that Disney is looking to cut $7.5 billion in expenses as products, particularly movies, are not performing as well as in the past. Disney’s streaming subscription service reportedly lost the company nearly $400 million over the summer, but Iger hopes to make the service profitable for the first time in 2024.
Disney’s SEC filing further conceded, “Generally, our revenues and profitability are adversely impacted when our entertainment offerings and products, as well as our methods to make our offerings and products available to consumers, do not achieve sufficient consumer acceptance.”
Disney’s most recent box office flops were the movies Wish and The Marvels. Wish only managed to bring in almost $32 million over the Thanksgiving holiday weekend, after analysts expected between $40 and $50 million. The Marvels saw the worst opening weekend performance in MCU history. Those two movies join Strange World, Indiana Jones and the Dial of Destiny, The Little Mermaid, and Ant-Man and the Wasp: Quantumania as huge failures in the past year for Disney relative to the money budgeted out for the films.
Last year, Disney was caught admitting to the purposeful indoctrination of children and adding “queerness” to its content. The company also opposed Florida Gov. Ron DeSantis’ “don’t say gay” law. After the Supreme Court overturned Roe v. Wade, Disney told its employees it would cover travel costs for them to procure an abortion.
