The Walt Disney Co. warned investors that its pursuit of social goals could affect profits in its 10-K filing with the Securities and Exchange Commission.
The company cited risks related to consumer preferences and its social goals, including environmental and social initiatives.
The mention of “social goals” in the report has sparked criticism, with some suggesting it serves as a hedge against potential investor concerns. (Trending: Biden Shamefully Removes God From National Address)
SCOOP: I've obtained video from inside Disney's all-hands meeting about the Florida parental rights bill, in which executive producer Latoya Raveneau says her team has implemented a "not-at-all-secret gay agenda" and is regularly "adding queerness" to children's programming. pic.twitter.com/eJnZMpKIXT
— Christopher F. Rufo ⚔️ (@realchrisrufo) March 29, 2022
“We face risks relating to misalignment with public and consumer tastes and preferences for entertainment, travel and consumer products, which impact demand for our entertainment offerings and products and the profitability of any of our businesses,” the 10-K filing read.
“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 company added.
“Further, 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.”
“What the hell business does a public for profit company have enacting/espousing ‘social goals’??? I haven’t read a zillion 10k’s but a few and I’ve NEVER seen a company say ‘Hey, we’re in business to please our customers but we have SOCIAL GOALS and if they don’t like them and aren’t pleased, screw ’em and we risk all on that.’ EVER,” Lew Ghost wrote.
“In fact, I’m sure the language is there because their lawyers insisted ‘IF you’re gonna go social like this you HAVE to warn people it is a risk so they cannot come back and say “I thought you were like every RATIONAL company I invest in and wouldn’t DO this stupid crap!”‘”
Disney’s inclusion of pro-LGBT content for children has led to a decline in viewership and licensing revenue for legacy brands.
The company’s stance on cultural issues has previously resulted in financial losses, prompting CEO Bob Iger to emphasize the primary mission of entertaining and having a positive impact on the world.
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