“Generally, our revenues and profitability are adversely impacted when our entertainment offerings and products, as well as our methods to make our offerings and products available to consumers, do not achieve sufficient consumer acceptance," the New York Post reported per the filing.
Disney said that "consumers’ perceptions of our position on matters of public interest, including our efforts to achieve certain of our environmental and social goals, often differ widely and present risks to our reputation and brands."
All of this comes after more than a year of tumult in the company during which the CEO and other execs were fueding with Florida Governor Ron DeSantis over his Parental Rights in Education Bill. The bill prevented schools from secretly gender transitioning students and required sex and gender education to be age appropriate.
One of their latest offerings, Snow White, was tabled as the company realized that the progressive tone of the film was not going to be popular with viewers. In fact, the star of the film, Rachel Zegler, spoke out at length against the tradiitonal storytelling of the fable. The film's release date has been pushed back until they can get it back on track.
The film went as far as to consult with the "dwarfism community" over concerns that the "seven dwarves" would be seen as offensive.
CEO Bob Iger left the company, leaving it in the charge of Bob Chapek, but Disney tanked under his leadership and Iger made a comeback in and attempt to get the iconic brand back on track.
Disney's other films haven't been doing well either, specifically in the Marvel Cinematic Universe. It's animated film Wish, featuring an Afro-Latina lead character, also bombed at the box office.
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