Americans are continuing to rock wokeism to its knees. Recently, Disney was forced to admit what all reasonable observers and shareholders have long known — its woke, activist strategy has affected its financial situation negatively.
The company revealed in its SEC filing, “We face risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel, and consumer products…Further, consumers’ perceptions of our position of environmental and social goals often differ widely and present risks to our reputation and brands.”
Translation of what Disney said: We messed up when trying to force our woke agenda. This included blasting Florida’s commonsense law to prevent educators from discussing gender or sexual orientation with kindergartners as “Don’t Say Gay” and implementing what one executive referred to as a “not-at-all-secret gay agenda” into its programming.
Disney’s stock price has dropped over 50% since early 2021, while the overall market has been up around 10%. The company’s recent woke movies have tanked, reportedly losing $1 billion. As Jonathan Turley, George Washington University professor, put it, the “invisible hand is giving the House of Mouse the middle finger.”
The demise of Disney is only one of many recent victories against woke capitalism.
Recently, Major League Baseball (MLB) announced the 2025 All-Star will take place in Atlanta. This is a significant reversal, of course, after the MLB took the 2021 game away from the city because of political activists who mischaracterized legislation in Georgia that made it more straightforward to vote but hard to cheat as being racist.
Election laws in Georgia haven’t changed since then, indicating the decision by MLB is an admission it made an error in 2021.
Blackrock, a financial giant, recently announced it is pulling back from its Environmental, Social, and Governance (ESG) agenda. According to Charlie Gasparino, a journalist, Blackrock’s marketing and PR teams are scrambling to correct the company’s ESG strategy because of backlash.
S&P Global said it would stop rating securities based on ESG criteria in August. Vanguard also pulled out of the global climate finance alliance named the Net Zero Managers Initiative.
A recent analysis by the Wall Street Journal finds mentions of ESG on company earnings calls have dived over the past year. DEI (Diversity, Equity, and Inclusion) is also waning, with companies shedding their chief and eliminating their chief diversity officers. According to the chief executive of Hanold Associates Executive Search, Jason Hanold, demand for diversity officers is at a 30-year low.
The Supreme Court’s affirmation action ruling in June has only accelerated the trend. In other news, the National Hockey League announced it would ban players from wearing activist jerseys on the ice this season.
Broadly, CEOs and companies have stopped mainly taking stances that are woke and alienate half of their customers.
The victory can serve as a blueprint for how moderates and conservatives can succeed on other vital issues facing the country, including deregulation, fixing the national debt, tax cuts, and sound money. Conservatives have the correct arguments on our side. But, we need to form a coalition and communicate effectively to break through the mainstream media filter.
Disney hasn’t given up entirely — not even at Christmas. It has a new movie out called “The Naughty Nine.” The film is teeming with activist messages and sexualizes children. Consumers should continue their punishment of Disney for pushing its leftist, woke agenda and watch the Christmas classics at home.