Will 50-Year Low Convince Disney to Change Course?
By Movieguide® Contributor
Last year Disney, Netflix, and other media giants collectively took a massive monetary hit to the tune of $500 billion ($500,000,000,000) dollars in lost revenue.
According to Forbes:
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Disney stock has plummeted almost 45% so far this year, which is looking set to be the worst performance since 1974.
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The latest fall has come after the opening weekend of Avatar: The Way Of Water fell short of huge opening weekend expectations.
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Disney is under pressure from many fronts, with its streaming service Disney+ gaining massive subscriber numbers but losing money hand over fist.
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CEO Bob Chapek was fired off the back of Disney’s disappointing Q4 results, with previous CEO Bob Iger taking over.
So far this year, Disney’s stock price is down almost 45%. That puts the company on track for their worst annual stock market performance since 1974, according to FactSet.
Disney isn’t the only studio to suffer.
Netflix, too, is paying the price.
According to Investors.com:
The company is falling short of ad-supported viewership guarantees made to advertisers, allowing them to take their money back for ads that have yet to run, according to a report from Digiday.
Netflix launched its ad-supported streaming service in early November. For $7 a month, the new subscription tier costs less than half of Netflix’s most basic plan. It includes four to five minutes of ads per hour.
Netflix stock plunged 8.6%, to close at 290.41 on the stock market today, during a broad market selloff.
Netflix remains the world’s largest streaming service, with 223 million subscribers but never before has included ads. The company decided to head in a new direction after a tumultuous start to 2022 that saw viewership shrink.
Sadly, both studios have chosen to release content that’s full of immoral values, including anti-Christian worldviews, excessive violence and sexual content.
When the Apostle Paul told the Ephesians to “Take heed how you walk” (Ephesians 5:15), he most likely did not have the determined steps of Netflix and The Walt Disney Co. in mind. However, the results of such steps are unsurprising. The majority of American moviegoers, streamers, and audiences of all kinds, are not happy with Disney, Netflix, and Comcast and their abundantly clear progressive agenda.
This is clear from Disney’s past animated flops:
STRANGE WORLD earned just over $25M despite its estimated $180M budget, while the TOY STORY spinoff failed to impress with only a $50M opening weekend and a slew of negative reviews from mainstream outlets.
The one consistency between the two movies is heir focus on a progressive agenda over a creative story, uplifting and moral lessons, and compelling characters.
This includes powerhouse media forces like Disney and Netflix. But since these corporate machines tend to measure things in terms of money, perhaps this 50 year low for Disney and Netflix’s great losses will combine to convince them to change their entertainment tune.
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