Disney CEO Admits Defeat, Announces Big Content Changes Going Ahead | washingtonengager.com

Disney is in a bit of a pickle…

In recent years, the company has become practically the poster child for pushing progressive ideology to its audience. However, this decision to go extremely “woke” has led them to break up. It’s a tale as old as time…

Disney CEO Bob Iger knows full well that the massive entertainment empire he leads is in trouble. He openly acknowledged that the beloved company has gone off course and is hemorrhaging billions. To stem the financial bleeding, he announced that they are restructuring parts of the company and overhauling their focus on both the Marvel and Star Wars series.

From CNBC:

The move comes as the company looks to cut costs at a time when its recent films, from Marvel to animated, have underwhelmed at the box office.

“You’re stepping back not only to focus, but also as part of our cost containment initiative. Spending less on what we do and doing less,” Iger said Thursday.

Earlier this year, Disney launched a broad reorganization of the business that included $5.5 billion in cost reductions, of which $3 billion would be cut from content excluding sports.

Iger said Thursday that many decisions were made to support the company’s flagship streaming service, Disney+, and attract more customers.

While he also noted that Disney had some Pixar animation missteps in recent months, he said Marvel was a particular example of the company’s “zealousness” to increase its original streaming content.

“Marvel is a great example of that. They hadn’t been in the television business on a significant level, and not only did they increase their production of movies, but they ended up doing a number of television series.” said Iger. “Frankly, it diluted the focus and attention.”

It looks like Disney is really cutting back on excess at the company, which can be seen as a positive step or a sign of trouble.

Regardless, one thing is clear: Disney is facing a decline in popularity. It may be because of their persistent promotion of progressive ideology, or perhaps because they are juggling too many projects at once. However, this company, which was once known for providing high-quality family entertainment, has deviated significantly from that path.