Staff Reports
In a recent interview with CNBC, Disney CEO Bob Iger dropped a bombshell regarding the future of Disney-owned media networks. Apparently, there are some big struggles on the horizon for the company. Iger explained that they are facing challenges with businesses that are not growing, specifically in the linear business. He hinted that they are open to exploring opportunities and admitted that the linear business will continue to struggle. When asked if this meant they would eliminate legacy networks like ABC and FX, Iger responded with an open-mindedness that suggests they may not be considered core to Disney anymore. He further emphasized that the current distribution and business models underlying these networks are broken. Ouch!
Media Collapse: Disney CEO Bob Iger Hints He Could Sell Off ABC, Other Networks….. https://t.co/JScaUBLFYL
— 🇺🇸🇺🇸Josh Dunlap🇺🇲🇺🇲 ULTRA-MAGA (@JDunlap1974) July 23, 2023
This news comes as no surprise considering the ongoing financial challenges Disney has been facing. Much of this can be attributed to their questionable decision-making when it comes to “woke” content and their clash with Florida Gov. Ron DeSantis. Reports have shown that Disney has been planning for significant layoffs, with up to 15 percent of their entertainment workforce being affected. Back in March, Iger announced a strategic realignment aimed at cutting costs, which would result in 7,000 employees being let go. This would impact various divisions, including television, film, theme parks, and more. Tough times indeed.
To make matters worse, it seems that Disney’s embrace of woke LGBTQ ideology has not been paying off at the box office. Two animated Disney movies that pushed this agenda turned out to be major flops, losing the company a whopping quarter of a billion dollars. “Strange World,” featuring Disney’s first openly gay teen hero, cost the company nearly $200 million and received the lowest audience score for any Disney animated film. Similarly, “Lightyear,” which included a gay kissing scene, lost the company $106 million and had the lowest CinemaScore of any “Toy Story” movie.
It’s clear that Disney’s pursuit of woke narratives and their departure from what made them successful in the past is hurting their bottom line. Maybe it’s time for them to rethink their strategy and focus on creating content that appeals to a wider audience. After all, being on the right side of history doesn’t mean much if your shareholders aren’t happy.
