South Carolina Treasurer Curtis Loftis believes that the recent struggles of Walt Disney Studios, which has celebrated its 100th anniversary this year, can be attributed to a “structural rot” within the company. Loftis argues that Disney has turned away from its responsibilities to shareholders in favor of embracing ESG principles, a “speech and behavior code” that he claims was created by the left and imposed upon others.
According to Loftis, the bungled leadership decisions and embrace of “woke” values has resulted in a significant decline in Disney’s stock prices and box office performance. Out of eight major theatrical releases, only two films, “Guardians of the Galaxy Vol. 3” and “Elemental,” have turned a profit. “The Marvels,” a highly anticipated addition to the lucrative superhero franchise, had the lowest domestic grosses in its history, indicating a clear disconnect with mainstream audiences.
Loftis points to specific examples of “woke” creative choices that have angered Disney fans, including the decision to replace Snow White’s seven dwarfs with “magical creatures.” Meanwhile, the powerful film “Sound of Freedom,” which was originally produced by Disney, was shelved by the company but later became a successful indie box office hit after being released by Angel Studios.
State of South Carolina Divests From Woke Disney Due to ‘Cultural Rot’ via @gatewaypundit https://t.co/AmvzUoXxT2
— The Gateway Pundit (@gatewaypundit) December 27, 2023
The recent divestment of $105 million in Disney debt securities by the state of South Carolina may not have a major financial impact on the massive corporation, but it sends a strong message about the public’s disapproval of Disney’s direction. Disney, a company that has been a part of American culture for a century, finds itself at a critical crossroads. In order to regain its connection with the public, Disney must return to its roots of timeless storytelling and iconic characters.
However, as Loftis expresses concern, Disney may be too deeply embedded in the “woke” ideology to be able to “let it go.” The company’s focus on pushing politically correct values and pandering to elite Hollywood elites has caused a significant deviation from its core principles and lead to a disappointing year in terms of finances and public reception.
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"Tremendous loss to America': South Carolina is dumping $105M of Disney investments, blaming 'structural rot' in the company."
Go woke, go broke. see 'ya bye Disney.https://t.co/vBHHEipnds
— Mustang7292 – COA⭐️⭐️⭐️ (@Paul_at_PSG) December 25, 2023
Disney’s struggles are indicative of a larger issue in the entertainment industry, where companies prioritize pushing a specific social and political agenda rather than fulfilling their fiduciary duties to shareholders and providing quality entertainment for audiences. It is time for Disney to step back from the “woke” mentality and focus on what made it successful in the first place: magic, timeless storytelling, and connecting with audiences of all backgrounds.