The Walt Disney Company said in a Securities and Exchange Commission (SEC) filing that “[e]nvironmental, social and governance matters and any related reporting obligations may impact our businesses.”
“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 filing stated.
“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,” the statement added.
Disney’s admittance of ESG failures comes as its latest animated film flopped on its opening weekend.
The film “Wish” brought in $19.5 million in box office sales during Thanksgiving weekend.
Over a five-day period, the film earned $31.8 million, although it was expected to earn between $45-$55 million.
Other films, including “Ant-Man and the Wasp: Quantumania,” “The Little Mermaid,” Pixar’s “Elemental,” “Indiana Jones and the Dial of Destiny,” and “Haunted Mansion,” underperformed, according to Fox News.
CEO Bob Iger said last year that he wants to “quiet things down” within the company, as consumers have criticized Disney’s woke politics.
“Do I like the company being embroiled in controversy? Of course not. It can be distracting, and it can have a negative impact on the company. And to the extent that I can work to kind of quiet things down, I’m going to do that,” he stated.
