Is Disney Backing Away From Its LGBT Controversy?
It seems Disney wants to course-correct its financial trajectory and cultural downfall after record losses this year. But is it too late?
Editorial Team
September 21, 2023
Written by David Zimmermann
What’s happening: Disney CEO Bob Iger on Tuesday told investors the entertainment company will “quiet the noise” surrounding its involvement in a culture war with Florida Gov. Ron DeSantis. It’s unclear how this will be accomplished, but the statement comes as Disney is set to invest $60 billion in its theme parks over the next decade.
How we got here: Disney made an enemy of DeSantis in 2022 after former CEO Bob Chapek publicly opposed Florida’s Parental Rights in Education bill, which prevents the teaching of sexual orientation and gender identity in K-3 classrooms. Since then, Disney has been proudly pushing LGBT ideology in its children’s films, original streaming content, and theme parks.
Record losses: As a result, Disney has been in financial crisis mode. This year so far saw the company lose roughly $900 million in Hollywood movie releases and 15 million Disney+ subscribers, while its stock price keeps tanking. Earlier this year, Disney cut over 7,000 jobs, including diversity officer positions.
Cause for concern: It remains to be seen if Disney leadership will backtrack from its political agenda or simply go quiet on social issues. Nonetheless, Disney is scrambling to retain its family-friendly image and win back parents after pushing left-wing propaganda. Iger aims to ensure the Disney brand can recover from its losses and controversies.
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