Walt Disney Co. acknowledges that its controversial political and social agenda has negatively impacted the company and shareholders, as reported by Jonathan Turley.
Turley cited a recent SEC report where Disney recognized the risks associated with misalignment with public and consumer tastes and preferences.
Turley, a George Washington University law professor and Fox News contributor, said, “Disney appears to acknowledge that Smith’s invisible hand is giving the ‘House of Mouse’ the middle finger.” (Trending: Donald Trump Confronts Bud Light CEO.)
Jonathan Turley says Disney and Hulu had to fess up that WOKE policies killed profits and hurt shareholders. More: https://t.co/RfuGDszMCo pic.twitter.com/apCywTF5DE
— NEWSMAX (@NEWSMAX) November 27, 2023
“In a new corporate disclosure, Disney acknowledges that its controversial political and social agenda is costing the company and shareholders,” Turley wrote in a piece for The Hill.
“In an implied nod to Smith, the company observes 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,’” Turley wrote.
“For shareholders, it may seem counterintuitive that corporate executives would trade off profits for political or social agendas. However, it does serve as a rationale for individual corporate executives who are professionally advanced when they champion such causes,” Turley wrote.
“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,” Turley wrote.
“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,” he continued.
“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.”
“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,” Turley wrote.
“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,” he added.
The company has faced backlash over its “woke” movies and declining revenues, prompting CEO Bob Iger to consider toning down the company’s involvement in culture wars.
Most Popular:
Tucker Carlson Predicts 2024 Race Won’t Be Between Biden, Trump
‘Woke’ Target Sells Controversial Christmas Decorations
