Disney’s CEO Bob Iger, told investors that the company will “Quiet the noise” in the culture war they find themselves in.
Iger and Disney want you to forget how woke they are.
Iger’s brief statement on “quieting the noise,” 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. During the presentation, Iger also announced Disney will double its investment in theme parks and cruise ships over the next decade.
Disney is struggling in their attempts to make their streaming business profitable. They are increasing the cost of Disney+, and they are losing on the sports streaming front as well. In a recent study done by reviews.org, they revealed that Amazon Prime is used more than ESPN to stream live sports.
In its most recent quarter, the company beat Wall Street’s profit expectations but fell short on revenue.
Part of that, is their wokeness and social conservatives not wanting to buy their products. The other part is the competition they are facing. ESPN used to be the best and only place to get live sports. Now, you can stream live sports on Amazon Prime Video, HBO just added NBA games to their streaming service “Max,” and you can watch games on NBC’s streaming platform “Peacock.”
They are not just seeing competition in the sports department, but also in their own backyard. The Universal Orlando Resort threatens one of Disney’s most reliable profit generators.
Then in the movie entertainment part of their company, they are facing scrutiny. They received social media backlash over the casting of Halle Bailey, a Black actress, in the lead role of Ariel in “The Little Mermaid,” and multiple countries last year blocked the release of the Pixar Animation Studios film “Lightyear,” which depicts a same-sex couple sharing a brief kiss.
According to Iger, Disney is trying to refocus on entertaining people and not social issues.
“Our primary mission needs to be to entertain … and to have a positive impact on the world,” Iger said at the time. “I’m very serious about that. It should not be agenda driven.”
To hear Tony Katz’s thoughts on Disney’s plan to “quiet the noise,” click the link below.
