The Walt Disney Company is looking at an almost $900 million loss following a series of woke flops at the box office.
According to an analysis by Valliant Renegade, which aims to look at the business and financial side of Hollywood, the last eight studio releases put out by the company have not performed as well as expected.
Guardians of the Galaxy and its most recent endeavor, a live-action version of The Little Mermaid, have failed to meet expectations, while two other recent films, Strange World and Lightyear were complete failures.Even Disney’s valuable archive has seen old characters given progressive makeovers, with ‘offensive’ imagery removed from rides and movies. Some conservatives feel the company has gone too far in its woke reinvention.
‘One important aspect we always discuss here, which is worth reminding everyone about, is that Disney retains exclusive rights to its content after theatrical release,’ Valliant Renegade explained.Disney no longer licenses content, such as the Marvel Cinematic Universe, to third-party platforms such as Netflix and Amazon and therefore has forfeited billions of dollars in potential revenue.
‘The once envied entertainment company is now struggling to find a profit on almost every single film released. Disney’s bloated budgets for these projects are vastly higher than the competition on average, particularly considering the fact that every single film Disney releases comes with blockbuster production price tags,’ the YouTuber explained.
Disney would have significantly more revenue if it pursued licensing agreements with major streaming services but instead the company is featuring its content exclusively on their own Disney+ streaming platform.
It means that the House of Mouse is essentially being propped up by the other profitable businesses including its theme parks & resorts and ESPN sports.
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