In recent years, the company has practically become the poster child for pushing progressive ideology onto its audiences. However, this decision to go extremely "woke" has led them to go broke. It's a tale as old as time...
Disney CEO Bob Iger knows full well that the massive entertainment empire he leads is in trouble. He openly acknowledged that the beloved company has veered off course and is hemorrhaging billions. To staunch the financial bleeding, he announced that they're restructuring parts of the company and overhauling their approach to both the Marvel and Star Wars series.
From CNBC:
The move comes as the company is looking to cut costs during a time when its recent films, from Marvel to animation, have underwhelmed at the box office.
“You pull back not just to focus, but also as part of our cost containment initiative. Spending less on what we make, and making less,” Iger said Thursday.
Earlier this year, Disney rolled out a broad reorganization of the business that included $5.5 billion in cutting costs, of which $3 billion would be slashed from content excluding sports.
Iger said Thursday that a lot of decisions were made to prop up the company’s flagship streaming service, Disney+, and beckon more customers.
While also noting that Disney had some Pixar animation misses in recent months, he called out Marvel as being a particular example of the company’s “zeal” to pump up its original content on streaming.
“Marvel is a great example of that. It had not been in the television business at any significant level, and not only did they increase their movie output, but they ended up making a number of TV series,” said Iger. “Frankly, it diluted focus and attention.”
It seems like Disney is really cutting down on excess within the company, which can be viewed either as a positive step or as a signal of trouble.
Regardless, one thing is clear: Disney is facing a decline in popularity. It could be due to their persistent promotion of progressive ideology, or perhaps it's because they are juggling too many projects at once. However, this company, which was once renowned for providing high-quality, family-friendly entertainment, has significantly deviated from that path.
