(Headline USA) Disney has lost nearly $900 million on its recent movie releases, according to a Hollywood box office analysis.
The company, which has come under fire in recent years for taking a woke turn, is “bleeding” money despite releasing eight notable movies in the past few years, including Thor: Love and Thunder, The Little Mermaid and Lightyear.
The production of these eight films cost Disney about $2.75 billion, analyst Valliant Renegade explained, but brought in only $1.86 billion at the box office. That’s a loss of $890 million.
“Disney continues to miss the mark from every studio that they have,” Renegade said, “and they’re not even done yet for this year, because Lucasfilm is on the table up next with Indiana Jones and the Dial of Destiny, and as of right now, that’s going to be ringing up yet another loss for the Walt Disney Company unless something radical changes.”
Strange World, which featured a gay romance, lost $197 million and Lightyear, which features a lesbian kiss, lost $106 million. Elemental, also released recently, features Disney’s first non-binary character and rails against “xenophobia.” And Disney’s Peter Pan remake includes girls among the Lost Boys and features a black Tinker Bell.
Valiant Renegade predicted the financial losses for Disney are just starting to show.
“One of the things that we always talk about here, that is the perfect time to remind everybody, is that Disney consumes all of its own content post-theatrical,” he explained. “Meaning that Disney that used to license their big content out like the entire MCU [Marvel Cinematic Universe] to places like Netflix for years, those were billions of dollars’ worth of third-party contracts that have now been taken off the table.”
Disney is reportedly feeling the losses, announcing it would be laying off more than 7,000 employees last month.
“The 7,000 layoffs — which represent 3.2% of Disney’s total headcount of about 220,000 worldwide as of Oct. 1, 2022 — are part of Disney’s efforts to achieve about $5.5 billion in cost savings,” according to Variety.
