Disney confesses: Its leftist politics damaged company, shareholders

by WorldTribune Staff, November 26, 2023

Guests are increasingly letting Disney know that when they line up for that 14 dollar churro they don’t want to be fed leftist ideology as well.

In its annual report to the SEC, Disney acknowledges that “we face risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel and consumer products.”

Disney’s confession is “an implied nod” to Adam Smith, “the iconic figure behind the theory of free markets, or of what we have since come to call ‘capitalism,’ ” law professor Jonathan Turley wrote in a Nov. 25 op-ed for The Hill.

Smith would explain how the “invisible hand” of the market worked as people exercised their choices between certain products. It can shape economies and challenge whole governments.

Disney “appears to be learning that lesson,” Turley wrote.

In the SEC report, Disney stated that “the success of our businesses depends on our ability to consistently create compelling content,” and that “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. 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.”

Disney had to swallow a lot of Mickey ice cream bars and a good portion of its pride in its confession to the SEC. The “House of Mouse” had previously ignored consumer backlash over corporate campaigns such as its opposition to Florida’s Parental Rights in Education law.

Making money in any way possible was Disney’s mantra before the woke invasion of the company. Example: Guests at EPCOT could go on a scavenger hunt around the World Showcase at the end of which kids (or grown-up kids) could turn in a map affixed with stickers and collect a small toy. The caveat? The map cost ten bucks.

Recently, Disney has reportedly lost a billion dollars just on four “woke” movie flops, productions denounced by critics as pushing political agendas or storylines. “What’s more,” Turley noted, “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.”

Turley continued: “In fairness to Disney, there is an expressive element to its products. Movies are artistic creations that emphasize certain motivations and values. At one time, those values included some that are now viewed as offensive, including racist tropes.

“The question is the balance and degree of the political and social agenda. Disney’s products are now viewed by many conservatives as empty virtue signaling and endless attempts to indoctrinate children. 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.

“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.’ ”

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