(ZENIT News / Los Angeles, 06.12.2023).- Income and profitability decreased in Disney given its productions oriented to the ideology of support of libertarian positions. In a document of the U.S. Securities and Exchange Commission (SEC), the Company acknowledged that “the price of our common stock has been and can continue being volatile.” According to the new York Stock Exchange, Disney’s shares are sinking rapidly.
Disney also accepted the repercussions for having aligned itself with positions centered on the socially bellicose minorities: “The harm to our reputation and brand can affect our Company negatively in all our businesses and regions (. . . ) The possible credit ratings actions, the increase of the types of interest or the volativity of the American and world financial markets could hinder access to the financing of our operations and investments, or increase the cost of the same.”
The entertainment production company has oriented itself in recent years according to the woke agenda, which stresses awareness of social inequality, gender ideology and sexual orientation. These alignments, according to the progressive or leftist term, have marked some productions close to the LGBTI group, the fight against racism or of marked feminism. This great Company of “family entertainment” notes the public’s distancing, admitting the idea that to get close to a very open or woke position also brings rupture with the social set.
In its last appearance before the U.S. Securities and Exchange Commission (SEC), Disney acknowledged the “risk related to the lack of alignment with the public’s tastes and preferences and the consumers in the matter of entertainment, trips and consumer products.” And that income and profitability are affected negatively” when their “entertainment offers and products do not “get sufficient acceptance on the part of consumers.” Already in November of 2022, the Company announced the layoff of employees to undertake a new financial strategy given the losses during the third quarter of that year.
The company defines itself as “a diversified entertainment business at the global level.” It states that it seeks “diversity, equity and inclusion” and that it works on “the creation of teams that reflect the vital experiences of our public, at the same time that we employ and support a diverse set of voices in our creative and production teams.”
The appearance before the SEC shows the business income to be US$88,900 thousand. In May of 2023, Business Insider reported that Disney began its third round of layoffs, affecting some 7,000 employees and scrapping plans to build a corporate center of US$900 million in Florida.
“The success of our business depends on our capacity to create constantly attractive contents (. . .). This distribution must satisfy the changing preferences of the broad consumer market.” It also stated thar “the success of our theme parks tourist complexes, cruises and experiences, as well as our premiers in movie houses, depends on the demand for public entertainment experiences or outside the home.”
The Strange World, Lightyear, The Marvels productions and the new presentation of The Little Mermaid, with a woke tendency, brought box office flops. The Daily Caller reported that the Company is starting a new program of “pins of pronouns” for its employees in the Epcot Center, which sparked an immediate reaction.
In March of 2022, under pressure from the LGBTI community, the Disney’s delegate adviser, Bob Chapel, officially denounced the legislation of the State’s Governor on the Rights of Parents in Education, called by the adversaries as the draft law “Don’t say gay.” And it sent a message to employees, especially of the LGBTQ+ community with apologies for not having acted earlier. It also announced that Disney was suspending all its political contributions to the State of Florida.
Weeks later, Governor De Santis retaliated and warned of repealing the Law of Improvement of Reedy Creek of 1967, which established a special jurisdiction and a tax district for Disney World.