A lot has happened between Disney’s Quarterly Earning Call on May 11, and its Meeting of the Shareholders at the beginning of the year.
The company has found itself at the front of what can arguably be described as a “culture war” that has resulted in outrage from fans, politicians, and its own Cast Members; the potential loss of the Reedy Creek Improvement District in Central Florida; and the elimination of special copyright extensions that have protected classic characters like Mickey Mouse from entering the public domain.
While The Walt Disney Company has threatened to use its influence as an international media conglomerate to overturn legislation in Florida and promised to inject more LGBTQ+ content into its programming for children, there have been protests, calls for boycott, and declarations of Disney+ cancellations on top of the push of unfriendly legislation. At the same time, the stock price has continued to decline, most recently eliminating the entire growth over the past five years. Yet the company has been rather silent on these matters and has even fired its communications chief.
While the second quarter closed before any of these concerns could make themselves financially noticeable, Disney CEO Bob Chapek and CFO Christine McCarthy both had a chance to address the fan’s outrage in their projections for future earnings. Warning of the potential consequences they could face. They failed to do so.
On the contrary, they both stood confident in the continued demand and growth in both Disney Parks attendance and Disney+ subscriptions.
However, both executives continued to highlight Disney’s investment in local content for international markets, the continued utilization of the Disney Park Reservation System as a way to monitor Guest demand, and the growth in
Mr. Chapek also mentioned that Disney+ is expected to launch in 53 new markets in the third fiscal quarter and that 50% of Disney+ subscribers are households of childless adults. While there is no proof, this could suggest that the powers that be in the Mouse House remain undeterred by the idea of losing the family market due to their “woke” direction.
Disney’s third- earnings results should be a key indicator just how many people who said they were going to boycott the , the and Disney Plus actually followed through.
In the meantime, we at Disney Fanatic will continue to update our readers on Disney news as more developments come to light.