Disney CEO Bob Iger announced the company will “quiet the noise” after a culture war resulted in concerning financial loss for the entertainment giant.
“Iger’s brief statement, included in an analyst report from Needham media analyst Laura Martin, was part of an investors’ presentation on Tuesday at Walt Disney World Resort in Orlando, Florida, in which the CEO also announced Disney will double its investment in theme parks and cruise ships over the next decade,” the New York Post reported.
Learn the benefits of becoming a Valuetainment Member and subscribe today!
Iger previously said the company “planned to spend $17 billion in investment at Walt Disney World over the next 10 years.”
The entertainment company forced itself to the center of the nation’s culture wars in 2022 when it publicly criticized Florida legislation restricting discussion of sexual orientation and gender identity in public school classrooms.
Disney CEO Bob Iger is signaling retreat, telling investors that he plans to "quiet the noise" in the company's culture war against conservatives. We applied the pressure—and we will keep pressing. pic.twitter.com/E2DoAz74qA
— Christopher F. Rufo ⚔️ (@realchrisrufo) September 21, 2023
Gov. Ron DeSantis campaigned against “Woke Disney,” working with the state legislature to strip it of self-governing authority over the parks. Florida and Disney are locked in a legal battle over the formation of the Central Florida Oversight District board, which assumed oversight of development in the nearly 25,000 acres of property in and around Disney’s theme parks.
The minority supported Disney’s political efforts with their voices and social media posts. Yet the majority rejected Disney’s foray into gender ideology with their actions and transactions.
Disney has been struggling to make its streaming business profitable, improve the writing quality of its films, position its ESPN flagship sports brand, and more. Although the company beat Wall Street’s profit expectations, it fell short on its revenue.
Not to mention the controversy behind the writers’ strike with actors, writers and directors alike coming together, demanding fair pay within streaming services as well as protections from AI.
In July, Iger told CNBC, “The last thing I want is for the company to be drawn into any culture wars.” Referencing the fight between Disney and Gov. DeSantis, Iger said: “I’m not sure that was handled very well” by the company.
Add comment