Whether it is a case of arrogance or ignorance, Disney World and Netflix are feeling the financial impact of catering to the WOKE. Since this latest saga for Disney began, they have lost $34 Billion in value, and with the changes in their status in Florida, there is much more to lose. For Netflix, its stock plummeted 35% just this week. The streaming giant is blaming this drop on many things. Like Biden, Netflix is even blaming Putin!
Disney made two significant mistakes in the last few weeks, proving costly. The first was to allow the leak of an internal Zoom meeting video. This video showed key Disney management personnel explaining how they are diversifying and making the Happiest Place on Earth as Gay as possible. If this was not enough, the Disney company came out forcefully against the Parent’s Rights Bill recently signed by Governor DeSantis. They fell into the same trap as most against the bill calling it the Anti-Gay Bill. There is no mention of Gay or any sexual orientation in the bill’s text.
Disney lost its way and went beyond its place as an entertainment company to join educators as indoctrinators. Not only causing an exodus from Disney streaming and park attendance, but it will cost them billions in lost special treatment that has been in place for a half-century in Florida. When Disney World began in the 70s, they had negotiated a deal with the State to make Disney a state within a state. They have their own government and infrastructure and have received special tax considerations for decades. Turning WOKE and against the State that has allowed them to build an empire will cost them billions in the future.
Netflix is a different situation, only that it does not involve direct indoctrination. It does show a definite move to be a Progressive and WOKE wing of the entertainment industry. Those decisions cost Netflix over 200,000 subscribers in the first quarter when they anticipated a gain of 2.5 million. Netflix points to “Streaming Fatigue” created by the plethora of new networks. They are also blaming the conflict in Ukraine for people tuning out on Netflix. Maybe they should look inward to continuous cost increases and signing huge contracts with the Obamas, and Prince Harry/Meghan Markle may have more to do with its drop than a Putin invasion. Didn’t they see that the Putin thing did not work for Joe Biden? They must have been too busy dreaming of the revenue from those 2.5 million who ghosted them.
I canceled Netflix the day they announced their deal with Obama. I hope this is a sign that people are starting to talk with their wallets. It may also show that strong state governments, especially a fearless governors, are not to mess with. They may want to remember where their sweetheart deals come from.
It will be interesting to see how, or if, these companies can recover from these bad decisions and downturns. It will take a philosophy change that may not be possible in either case. One thing is clear. All companies need to remember this is a divisive environment, and only catering to one side of the equation will be detrimental to the bottom line If they continue with these flawed business models, they will never see another dime from this conservative, and I think I am not alone.
This article was first published on The Liberty Loft thelibertyloft.com