Disney is finally learning an age-old lesson about capitalism: If you want to succeed as a company, you have to create things that consumers actually want to spend money on.
According to legal analyst Johnathan Turley, the “invisible hand” of Adam Smith, who promoted free market theory (better known as “capitalism”) 300 years ago, “is giving the middle finger to the ‘House of Mouse’ “.
Disney acknowledges in the latest documents that its controversial political and social agenda is costing the company and shareholders. The company is concerned that Adam Smith’s “invisible hand” is giving the “House of Mouse” the middle finger. https://t.co/KiJ85k9s9q
— Jonathan Turley (@JonathanTurley) November 25, 2023
“Born in June 1723, Smith explained how the ‘invisible hand’ of the market operated as people exercised their choices between certain products. It can shape economies and challenge entire governments,” Turley wrote in an article in opinions the hill. “One company in particular seems to be learning that lesson.”
“In recent filings, Disney appears to acknowledge that Smith’s invisible hand is giving the middle finger to ‘House of Mouse,'” he continued. “In a new corporate disclosure, Disney acknowledges that its controversial political and social agenda is costing the company and shareholders.”
Disney admitted in its annual SEC report that it faces “risks related to misalignment with public and consumer tastes and preferences for entertainment, travel and consumer products.”
“[T]The success of our businesses depends on our ability to consistently create engaging content,” the company notes.
“In general, our revenues and profitability are adversely affected when our entertainment offerings and products, as well as our methods of making our offerings and products available to consumers, fail to achieve sufficient consumer acceptance,” he said. say Disney. “Furthermore, consumer perceptions of our position on matters of public concern, including our efforts to achieve some of our environmental and social goals, often differ widely and present risks to our reputation and our brands.”
Disney Cartoons Still Pushing Woke Indoctrination to Kids, Despite Closed Subscriptions https://t.co/loZZujwO7f pic.twitter.com/XlPYzcLuYt
— BPR (@BIZPACReview) February 14, 2023
Turley called the admission “an implicit nod to Smith.”
“Disney and other companies have previously ignored consumer backlash over corporate campaigns like Disney’s opposition to Florida’s parental rights to education law,” he wrote. “Corporate officials avoided political controversies and focused on selling their products and services rather than viewpoints.”
Four of the media giant’s recent movie releases — “productions denounced by critics as pushing political agendas or arguments,” according to Turley — have fallen dramatically, costing Disney $1 billion.
“However, to date, the company has continued to release underperforming films as revenues have fallen,” Turley wrote. “Also, Disney’s stars persist in misrepresenting their storied stories and undermining their new productions. The company admits it has suffered a continued decline in ‘impressions’ (i.e. audience) by 14 per one hundred”.
Disney slams new ‘woke’ box office bomb: ‘Stop making everything sexual!’ https://t.co/TVCTxUzpFv pic.twitter.com/z5rxH45snl
— BPR (@BIZPACReview) November 28, 2022
The Conservative lawyer continued:
For shareholders, it may seem counterintuitive for corporate executives to trade profits for political or social agendas. However, it serves as a rationale for individual corporate executives who are professionally advanced when advocating these causes. For example, when Alissa Heinerscheid, Bud Light’s vice president of marketing, pledged to shed Bud Light’s “fraternity reputation and embrace inclusivity,” she was heralded by her colleagues, even though her move ended this brand as a whole. In fact, Bud Light still hasn’t recovered from billions in lost profits, market share and global market value.
Even as public trust in journalists plummets, the media reflects a “woke” push for “advocacy journalism, abandoning objectivity,” Turley said.
“With subscriptions falling and public backlash … journalists continue to see the thin branch they’re sitting on,” he wrote.
The academy, too, is resisting criticism for “its intolerance of opposing viewpoints and for purging faculties of conservative or libertarian professors.”
In both cases. Turley explained that individuals are willing to take the financial hits to their professions rather than risk being blocked from advancement by their bosses.
“Each of these stories of decline represents a variation on another economic model called the ‘tragedy of the commons,’ whereby everyone makes personal decisions to their own immediate advantage and ultimately kills the same resource that sustains everyone “, he wrote. “All these corporate, journalistic and academic figures act for their immediate personal advantage at the expense of their companies and institutions.”
“Many conservatives now see Disney products as empty virtue signaling and endless attempts to indoctrinate children,” he said. “Furthermore, when the company publicly states its opposition to a grassroots parental rights bill in Florida, it is moving away from a commercial approach to a political approach.”
Disney’s Snow White Movie Walks Out With a Sneak Peek at New ‘PC’ Characters https://t.co/ECXuY1MCwX pic.twitter.com/uWOz57hgqa
— BPR (@BIZPACReview) July 18, 2023
“This is the invisible hand problem,” Turley wrote. “You can bring movies to the public, but you can’t sell them.”
AX, users believed that Disney is getting exactly what it deserves.
“This is appropriate and market-based punishment. No government takeovers or big government fixes needed,” commented one user. “The market has already done its job and Disney is correcting the course.”
“Their woke employees look down their noses at their customers,” said another. “How to destroy your brand from the inside.”
“These companies get so big and profitable they think they have all the answers,” wrote a third. “They don’t.”
“Entertain people again,” the user urged Disney. “Be healthy. Don’t spread hate or try to mutilate children. We will never accept that.”
This is an appropriate and market-based punishment. No need for government buyouts or big government solutions. The market has already done its job and Disney is correcting the course.
— ClassicConservative (@ReturnToReagan) November 25, 2023
Their awake employees look down their noses at their customers. How to destroy your brand from the inside.
— Rob McAlpine (@RobMcAlpine5) November 25, 2023
These companies get so big and profitable that they think they have all the answers. they don’t
Entertain people again. be healthy Don’t spread hate or try to mutilate children. We will never accept that.
— Keith Dorschner (@keith_dorschner) November 25, 2023
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