The ancient Romans called it Bread and Circuses – panem et circenses – keep the people fed and entertained as a means of subduing them. Nowadays, obesity and diabetes as a result of overeating is epidemic and entertainment has become a global industry generating both huge profits and losses on a Cecile B. DeMille scale. Disney has been the most enduring name and brand in the Hollywood industry which has become synonymous with on screen entertainment but is now facing the challenges of a new generation of technology and demographics.
Disney’s share price has been up and down again in recent months. The success of Disney + and it’s affiliated channels in surpassing Netflix as the leading streamer brought about a spending spree in the company’s shares. Then a long hard look at Disney’s place in the future world of digital entertainment showed that things were not quite as rosy in the kingdom. Like Splash Mountain, Disney’s popular ride, shares went down as fast as they went up.
Amazon and Apple’s venture into streaming are add ons to their core business, an exercise in brand promotion as much as a stand alone service. Disney is entertainment only, masters of their universe, but vulnerable nonetheless when the circus leaves town.
Although Disney has a portfolio of movies, merchandising, cross brand marketing, brand loyalty, and now streaming, the company also has 78 billion in debt and is losing money on subscription services. Though losses are in part made up for by milking their Disney Parks and blockbuster Marvel movies, Disney’s traditional products are no longer as popular with generation X as with the Millennials. Generation Alpha are turning to self generated entertainment on TikTok and YouTube and rejecting the cinema experience for the interactive gaming experience.
#BoycottDisney #MCU #AntManAndTheWaspQuantumania pic.twitter.com/aFu8iQYqjd
— MARVEL\DC\USA (@MARVEL_DC_USA) January 12, 2023
A company as big as Disney will always be caught up in the crossfire of the culture wars. The progressives see Disney as representing a white patriarchal view of the world, and racist by default. The conspiracists accuse both Walt Disney, his staff and their characters as pedophile apologists, with very little evidence, but conspiracy theories rarely need evidence to substantiate their claims.
Disney opposed Florida’s Anti Gay laws and in return saw its taxes privileges revoked. Candace Owen called for a boycott of Disney. Flat Earthers and Anti vaxers congregate on Telegram to add the supposedly pedophile Disney movie Pinocchio to their Oprah drinks baby’s blood and the earth is flat theories. And Disney has to tip toe around China’s sensitive censors who ban any movie with an anti-establishment message.
Child groomers and pedophiles.
They have now openly admitted they have a not so secret agenda with your children.
This is the death of Disney. #BoycottDisney https://t.co/VPT4i6WS6i— Candace Owens (@RealCandaceO) March 31, 2022
The center of gravity has shifted from Hollywood, and Disney represents for many Hollywood. The company is still valued at $180 billion and made four of the highest grossing movies of 2022, so clearly the company has not lost its touch. The theme parks have bounced back from the pandemic. But investors are nervous. The circus will be in a new technosphere and the revolution will be streamed, not televised or shown on a big screen. The challenge for a new Disney is how to redefine the name to be relevant without diluting the Disney brand.
