Oh no! Disney has reportedly lost a billion dollars just on four of its recent “woke” movie flops…
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.
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. Yet even Disney’s CEO, Bob Iger, now appears to be seeking to “quiet things down” after years of culture wars.
Update: Another bad weekend at the box office.