Go woke, go broke: Is Disney facing losses due to its woke culture?

Disney was still reeling under the aftereffects of COVID-19 when it got involved in a controversy over the passage of the "Parental Rights in Education Bill" in Florida.

House Republicans in Florida passed the education bill, dubbed the "Don't Say Gay" bill by its critics, last week on Friday. The bill basically bans discussions of sexual orientation and gender identity from kindergarten through third grade.

It will also let citizens sue school districts if they think the law has been violated. The legislation is awaiting a final committee hearing in the Senate before it is passed into law, writes Politico.

The legislation has seen opposition from several stakeholders, including Florida Democrats, activists, journalists, and firms like Disney. Disney even pledged to stop donating to political campaigns in the state as a mark of protest against the legislation.

Meanwhile, hundreds of Disney employees also staged walkouts in protest against the company, saying that its response to the bill was tepid and that it needed to do more.

"The recent statements by The Walt Disney Company (TWDC) leadership regarding the Florida legislature's recent 'Don't Say Gay' bill have utterly failed to match the magnitude of the threat to LGBTQIA+ safety represented by this legislation," read an open letter by the employees.

Former Disney CEO Bob Chapek also had to issue an apology for failing to speak out against the sex education bill initially. "You needed me to be a stronger ally in the fight for equal rights and I let you down. I am sorry," he told employees.

LGBTQ community supporters and leaders at the company had been asking the company to speak out against the bill for weeks when Chapek issued the apology.

Chapek reportedly spoke to Florida Governor Ron DeSantis over the phone to express his concerns about the bill. However, Disney's criticism of the bill did not go down well with DeSantis, who began to mock the company saying that "Woke Disney" had "lost any moral authority to tell you what to do."

It is not only DeSantis who has been irked by Disney's opposition to the bill. Hundreds of people have been slamming the company for its "woke" culture. Some have even called for a boycott of its theme parks and movies.

Some Disney fans believe that its "woke agenda" has proven detrimental to its growth. Its inclusion of LGBTQIA characters in its movies and emphasis on queer representation and racial diversity has not gone down well with some of its fans.

The company came under fire for the same-sex kiss in "Lightyear." Many of its movies such as Captain Marvel, have been focusing more and more on identity politics. Star Wars: Episode IX - The Rise of Skywalker featured a same-sex kiss which people felt was not genuine.

Its fans have begun to feel that the company is leaving behind its traditional audience to satisfy the whims and wishes of the "woke crowd." While others have dubbed its attempts at inclusivity mediocre as it is only trying to stay away from criticism.

Some are seeing the latest plunge in Disney share prices and its decision to layoff 7,000 employees as a direct outcome of the company's woke culture. "They never learn. Go Woke, Go Broke is real. Disney actually managed to lose money with Star Wars by going Woke with the franchise. Same for Marvel. Then picking a fight with Governor DeSantis. Play stupid games, win stupid prizes," wrote a Twitter user.

"Disney laying off 3% if it's totally workforce including top execs. Go Woke, go Broke. This Chapek guy and that Marvel comics genius who tried to get his activist buddy on the Disney board are flat out why Disney went broke. I shed no tear for the Mouse House," wrote another.

The supporters of the bill have even started a petition calling for a boycott of all Disney products until it stops "its campaign against the Florida law."

"Over the years, Disney has become more and more radical in embracing gender ideology and the LGBTQIA agenda. From lewd pride parades at your theme parks, to pushing gender ideology in your movies, I have had enough of this nonsense. Disney used to be a place that embraced family and innocence. No more. This means that I will boycott your theme parks and all of your major holdings," read an excerpt from the online petition.

Disney's current CEO, Bob Iger, has announced the layoffs as part of restructuring plans due to the conditions created by microeconomic changes and rising competition in online streaming.

The layoffs were unrelated to the boycott campaign, per the experts. Disney had already fallen out of favour with visitors due to its rising admission fees and the amount of effort one needs to put in if one wishes to plan a trip to Disney parks.

The company had been witnessing losses long before the controversy over the Florida bill. Its September quarter results saw a whopping $1.47 billion streaming loss. Its stance on the sex education bill and the eventual feud with Governor DeSantis are only the tip of the iceberg. It remains to be seen how Iger manages to deal with these issues and take the company forward.