According to a Newsmax report, a recent Disney SEC filing reveals the House of Mouse is acutely aware of the fact that its woke offerings are putting off a portion of its customer base.
Legal expert Jonathan Turley shared details in his recent column for The Hill on Saturday.
“In a new corporate disclosure, Disney acknowledges that its controversial political and social agenda is costing the company and shareholders,” Turley wrote.
Turley cites Disney’s SEC filing this week that acknowledged some mistakes leading to losses potentially stretching into billions with pair of statements listed in bold:
“We face risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel and consumer products, which impact demand for our entertainment offerings and products and the profitability of any of our businesses.”
“We face risks related to changes in our business strategy or restructuring of our businesses, which have affected and may continue to affect our cost structure, the profitability of our businesses or the value of our assets.”
From Newsmax:
Disney was forced to admit “consumer acceptance” is going to impact its bottom line.
In September, Disney announced it was expected to fall tens of millions short of its 2024 goal for Disney+ and its streaming service Hulu.
Customers have been fleeing Disney+ and Hulu in the wake of nationwide boycotts and sharp subscription price increases.
And this past summer, Disney stock had a hit a 9-year low, with its marketing cap falling from $350.09 billion March 22, 2022, to $154.04 billion – a decline of $196.05 billion – or a 56% drop.
Turley credits Disney’s woes as a function of what the late economist Adam Smith called the “hidden hand” of the marketplace.
“In recent filings, Disney appears to acknowledge Smith’s invisible hand is giving the ‘House of Mouse’ the middle finger,” Turley wrote.
GO WOKE, GO BROKE! Disney Admits Its Left-Wing Politics Hurt Shareholders https://t.co/8N3UG0z63G
— 🇺🇸Kimmie🇺🇸 (@kimmagagal2) November 26, 2023
