Go ‘Woke’ Go Broke: Disney Stock Falls 10% After Company Reports Earnings Loss

The Walt Disney Co. can’t catch a break – though its financial decline is largely a problem of its own making.

The company reported a quarterly loss on Tuesday in its Second Quarter Earnings for FY 2024, leading its stock price to fall nearly 10%. It was the stock’s worst day over the past year.

According to Disney’s earnings statement,

Revenues for the quarter ending March 30, 2024, increased to $22.1 billion from $21.8 billion in the prior-year quarter.
Diluted earnings per share (EPS) was a loss of $0.01 for the current quarter compared to income of $0.69 in the prior-year quarter.

Shares of the Walt Disney Co. ended the day at $105.39, down 9.46% for the day. The company’s stock is currently trading below pre-pandemic levels – down 21.35% since 2019.

Disney’s stock price hit an all-time high of $197.16 on March 12, 2021; since then, shares of the company have dropped a staggering 46.5%.

The Walt Disney Co. launched its direct-to-consumer streaming service, Disney+, on Nov. 12, 2019. The company’s direct-to-consumer segment earned a profit for the first time ever this quarter, netting the company $47 million. There are 117.6 million subscribers to Disney+ worldwide.

But since its inception, Disney+ has lost the company an astonishing $11 billion.

Several of Disney’s biggest-budget films bombed at the box office in 2023. Just four of its movies – The Marvels, Indiana Jones and the Dial of Destiny, Wish and Haunted Mansion – lost the company a staggering $628 million combined.

Now, it’s no secret that Disney has pushed a leftwing agenda over the past several years.

After Florida enacted its Parental Rights in Education Bill in 2022, an executive producer admitted during a staff meeting she was promoting a “gay agenda” within the company as a part of her job.

“In my little pocket of Proud Family Disney TVA, the showrunners were super welcoming . . . to my not-at-all-secret gay agenda,” she said, adding,

Maybe it was that way in the past, but I guess something must have happened . . . and then like all that momentum that I felt, that sense of “I don’t have to be afraid to have these two characters kiss in the background.” I was just, wherever I could, adding queerness. . . . No one would stop me, and no one was trying to stop me.

As the Daily Citizen has previously reported, Disney’s animated movie Lightyear, “which featured homosexual characters and subplots … likely lost Disney north of $100 million.”

Disney subsequently released Strange World, where “the main character’s homosexuality is ‘the crux on which this [movie’s] narrative revolves.’”

“Though the studio spent between $135 and $180 million to produce the film (not including advertising costs), Strange World earned only $73 million at the box office, once again likely losing Disney more than $100 million.”

It’s clear Disney’s foray into leftwing politics is a part of the reason it continues to struggle financially.

But perhaps there’s a second reason in play. With Disney’s focus on making “woke” movies with female-leads and homosexual-themes, perhaps Disney’s content-creators have forgotten how to tell good stories in the first place.

Disney’s focus on injecting political themes and sexual content into its shows and movies has prevented it from telling family-friendly stories featuring timeless elements like human love, sacrifice, and the triumph of good over evil.

If money talks, surely Disney is realizing its “woke” turn isn’t working. Hopefully the company will listen to its consumers and return to its more family-friendly roots.

If you want to learn more about the entertainment content your family is viewing, check out Focus on the Family’s free service Plugged In. The Plugged In team reviews movies, television shows, music, games, books and more.

Related articles and resources:

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‘Wonka’ is Wonderfully Non-Woke and Happy Fare for Family

Disney and Other Corporations Find Wokeness Bad for Bottom Line

Disney World Introduces ‘Preferred Pronoun’ Pins for Staff

Disney’s Layoffs and Restructuring Shows Parents Don’t Want ‘Woke’ Entertainment

Walt Disney’s Dream Has Gone Up in Smoke, From Wonderful to ‘Woke’

The Sad Collapse and Corruption of Disney’s (Woke) World

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