I was responding to a poster who insinuated they were going broke, which is clearly not the case. Iger is restructuring but it's not due to a slowdown but to sustain long-term profitability.
Despite the fake outrage on the Right simply because Chapek spoke up for his own employees, the woke hysteria is nothing but an attempt to fight a culture war to increase his bonafides with his ruby red base.
Most Americans don't give two craps about this nonsense and don't make entertainment decisions over trumped up political sideshows. A case could even be made that when companies go woke they become more profitable, for example, Nike and Colin Kaepernick. It seems there are many Americans that appreciate the nod to inclusion and want to show their support.
"After a solid first quarter, we are embarking on a significant transformation, one that will maximize the potential of our world-class creative teams and our unparalled brands and franchises," Iger said in a statement before the call.
The move comes as Disney's parks business continues to soar. The Parks, Experiences and Products division—which includes Disney Cruise Line and Disney’s merchandise business — saw a 21% increase in revenue to $8.7 billion in the first quarter. Operating income increased 25% to $3.1 billion.
The company said the guests spent more money while visiting its parks, including on services such as Genie+. Disney’s U.S. parks — Disney World and Disneyland — also saw growth in attendance.
On the first quarter earnings call Wednesday, chief financial officer Christine McCarthy said park attendance at both resorts are “pacing above [the] prior year.”
CEO Bob Iger unveiled a restructuring plan on Wednesday.
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