
© Jill McLaughlin/The Epoch Times
Protesters rally in opposition to The Walt Disney Company's stance against a recently passed Florida law outside of the company's headquarters in Burbank, Calif., on April 6, 2022.
After years of unsuccessfully trying to force its woke agenda upon its customers, the world's largest family entertainment company is finally admitting there may be some truth to the saying coined by Florida Gov. Ron DeSantis: "Go Woke. Go Broke."
According to its
latest filing with the United States Securities and Exchange Commission (SEC), the Walt Disney Company acknowledged that it faces "risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel, and consumer products," and that
"revenues and profitability are adversely impacted" when their "entertainment offerings and products" don't "achieve sufficient consumer acceptance."
Conversely, it describes itself as "a diversified worldwide entertainment company" with "Diversity, Equity and Inclusion" objectives that include "building teams that reflect the life experiences of our audiences, while employing and supporting a diverse array of voices in our creative and production teams."
According to the filing, the company's revenues for fiscal 2023 were $88.9 billion. While this was a seven percent increase over fiscal year 2022,
The Hollywood Reporter noted that Disney was forced to cut spending on television and movie content from $29.8 billion to $27.2, and Business Insider reported in May that
Disney entered its third round of layoffs, releasing around 7,000 employees, and scrapping plans to build $900 million corporate campus in Florida.
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