{"id":20881,"date":"2023-09-20T17:12:04","date_gmt":"2023-09-20T17:12:04","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/disney-ceo-says-company-will-quiet-the-noise-in-culture-wars-analyst\/"},"modified":"2023-09-20T17:12:05","modified_gmt":"2023-09-20T17:12:05","slug":"disney-ceo-says-company-will-quiet-the-noise-in-culture-wars-analyst","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=20881","title":{"rendered":"Disney CEO says company will ‘quiet the noise’ in culture wars – analyst"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Items with a rainbow-coloured design are seen in a Pride section of a gift shop at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS\/Octavio Jones\/File Photo<\/span>
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By Dawn Chmielewski<\/p>\n

(Reuters) – Walt Disney <\/span><\/span> (NYSE:) CEO Bob Iger told investors the company will “quiet the noise” in a culture war that has pitted social conservatives against the global media and entertainment conglomerate, according to an analyst note on Wednesday.<\/p>\n

Iger\u2019s brief statement, included in an analyst report from Needham media analyst Laura Martin, was part of an investors\u2019 presentation on Tuesday at Walt Disney World Resort in Orlando, Florida, in which the CEO also announced Disney will double its investment in theme parks and cruise ships over the next decade.<\/p>\n

Disney has suffered a bruising battle that has played out in Florida and at box office, where it faced social media backlash over the casting of Halle Bailey, a Black actress, in the lead role of Ariel in \u201cThe Little Mermaid.\u201d <\/p>\n

Several countries last year blocked the release of the Pixar Animation Studios film \u201cLightyear,\u201d which depicts a same-sex couple sharing a brief kiss.<\/p>\n

The entertainment company was thrust at the center of the nation\u2019s culture wars in 2022, when it publicly criticized Florida legislation restricting classroom discussion of sexual orientation and gender identity. Governor Ron DeSantis responded by campaigning against \u201cwoke Disney,\u201d and working with the state legislature to strip it of self-governing authority over the parks.<\/p>\n

Florida and Disney are locked in a legal battle over the formation of the Central Florida Oversight District board, which assumed oversight of development in the nearly 25,000 acres (100 square kilometers) of property in and around Disney\u2019s theme parks.<\/p>\n

It is unclear how much of the $60 billion in new investment in parks will be spent in Florida, where Disney faces increased competition from rivals such as Universal Orlando Resort. Iger previously said the company planned to spend $17 billion in investment at Walt Disney World over the next 10 years.<\/p>\n

Iger\u2019s remarks about its content appear to mirror those he made at the company\u2019s annual shareholder meeting in April. <\/p>\n

At the time, Iger was responding to an investor, who said Disney had evolved from \u201ca place of magic for children\u201d to an \u201cideological company serving the LGBTQ\u201d community that promoted a “woke agenda.”<\/p>\n

\u201cOur primary mission needs to be to entertain … and to have a positive impact on the world,\u201d Iger said at the time. \u201cI\u2019m very serious about that. It should not be agenda-driven.”<\/p>\n

In Orlando, Iger also told the investor group that Marvel Entertainment would reduce the pace of its releases, after having made too many films and television series, according to Needham\u2019s report. <\/p>\n

Pixar\u2019s young directors will work with existing characters and stories, rather than developing original stories like \u201cElemental.”<\/p>\n

\u201cElemental\u201d initially struggled at the box office, with a weak $30 million opening weekend. It eventually grossed $486.7 million, according to BoxOfficeMojo.<\/p>\n

Disney could not immediately be reached for comment. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

2\/2 \u00a9 Reuters. FILE PHOTO: Items with a rainbow-coloured design are seen in a Pride section of a gift shop at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS\/Octavio Jones\/File Photo 2\/2 By Dawn Chmielewski (Reuters) – Walt Disney (NYSE:) CEO Bob Iger told investors the company<\/p>\n","protected":false},"author":1,"featured_media":20882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-20881","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nDisney CEO says company will 'quiet the noise' in culture wars - analyst | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"2\/2 \u00a9 Reuters. 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