The Walt Disney Company has seen its stock take a dive as extensions to the contract of disgraced CEO Bob Iger are made, and the latest quarterly financials just make matters worse.
The entertainment giant has recorded an $800 million third-quarter loss from its Disney+ streaming service. This is a considerable jump from the $659 million in losses reported last quarter.
Disney’s far-left media sycophants have been trying to downplay and spin the losses but the reality is that Disney is floundering.
The company’s recent trend of investing its time and money into woke projects for the sake of identity politics has resulted in dismal subscriber counts and a severe lack of support from consumers. In addition, the company’s failed Lucasfilm president, Kathleen Kennedy, has been accused of ‘woke r***’ of many iconic characters such as Luke Skywalker, Lando Calrissian, and Indiana Jones.
The latest figures have prompted concern from analysts who point out that Disney’s streaming service, which is the company’s only hope of re-igniting investor trust, looks to be in considerable trouble.
Current estimates are that Disney+ will amass 80 million subscribers by 2024, far lower than the 100-120 million estimated by Disney CEO Bob Iger last year.
Adding insult to injury, Disney’s film studio, the last reliable source of income for the company, is also leaning more and more into ‘woke’ projects which lack any creativity and are receiving abysmal reviews and almost no audience appeal. In the last nine movies alone, Disney has lost over one billion dollars.
It is clear that Disney is losing its grasp on entertainment and pop culture. Its products become increasingly more politicized and are completely devoid of the wholesome entertainment factor that made Disney the powerhouse it is in the first place.
Disney’s inability to cater to its core audience or recognize that its left-wing bias is alienating a large number of people is leading it down this path of destruction. Quite frankly, Disney is deserving of every bit of this self-imposed debacle.
Disney needs to realize the danger of being at the mercy of political correctness and get back to producing the type of content that once made the company so beloved. Until Disney recognizes the importance of creativity and respect for its audience, investors have reason to continue to be concerned.