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I’ve sometimes heard that the left wing takeover of corporate America is a hollow one - they don’t REALLY cars about minorities, just look at umm their Middle East twitter accounts! They care about $$$ and aren’t true believers
I found an interesting counter point recently.
https://upstreamreviews.substack.com/p/high-republic-low-sales
This is what a corporation that has no idea what their audience is about, but does in fact know clearly what it’s ideology is about.
I’ll summarize the link but you really should read it for yourself, it’s astounding how bad Disney gets the Star Wars franchise: for instance, the books need to be (in addition to all the old touchstones of diversity etc) ANTI WAR. And then there’s the characters, who are somehow all androgynous.
The sales figures reflect an enormous lack of interest of enthusiasm. But it doesn’t matter for Disney - they get to spread the Good Word of gender ideology and anti fascism/anti traditionalism.
I'm realizing slowly but surely that most of what is afflicting Disney isn't ideology itself but sheer incompetence of people that run the company, they just get to use the ideology as a shield for their inability. Also because of the mechanics of ESG(so they are funded on arbitrary ideological metrics) and bad media analyst company like Parrot Analytics using social media "engagement" as a success metric not the sentiment. So Disney can shove ideology to pump the ESG numbers and when the audience notices the bullshit they go on social media complain about it, we get response from culture warriors calling them everything bad under the sun, and Parrot Analytics claims it a success because people talking about it. So the incompetent people that decides on all of this get to keep their job because it doesn't affect the investments and they have an analytics company claiming success on something else than if they audience actually liked the content or not.
Oh come on! Your whole shtick here from the start, including your username, was "it's all just incompetence and mundane market forces, guys!"
The ideology creates incompetence though. One of the culture war fronts was woke culture's hostility to meritocracy.
It's almost like this is exactly what ESG was specifically designed for.
It's not incompetence at all. Disney has portions of the company which are basically money printers, and this money is deliberately used in service of pushing the ideology of the woke culture warriors controlling the company.
Where does it make money? They are in discussions on selling theme parks outside of the US, toy licensing is cratering because the action figures are collecting dust on the shelves, they picked a fight with the UK over the terms of Disney+ streaming (which is not profitable btw) and the box office keeps on bombing.
https://thewaltdisneycompany.com/app/uploads/2023/02/2022-Annual-Report.pdf
Starting page 67. Revenue of $82.7 billion, net income of $3.5 billion. They are making money hand over fist.
That's about a 4% annualized return, only 'good' because the stock market tanked that year. But it's still not terribly exciting given the built-in risk of losing your shirt running any sort of entertainment company, even a tbtf one like Disney, and given their relative box-office dominance it seems beyond underwhelming. If I was a major shareholder in a the titan of the industry, I'd want to know why they weren't crushing it!
4% net profit. It's only ~2% annual return. Even after their share price tanked, $DIS market cap is still $160B.
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