(Molly Bruns, Headline USA) Major Hollywood entertainment businesses lost a combined $542 billion in market value in 2022, with the Walt Disney Company, Netflix and Comcast making up the largest portions of the loss.
According to Breitbart, the world’s 30 largest media companies are tracked by the Dow Jones Media Titans index, which discovered that the total market value declined from $1.35 trillion to $808 billion.
“It’s been a perfect storm of bad news,” Michael Nathanson, media analyst at SVB MoffettNathanson, said. “I’ve been covering this sector a long time and I’ve never seen such a bad collection of data points before.”
The losses were greater than any other sectors—including banking and telecommunications, which fell by 14.5% and 11.2% respectively.
Reports indicate that the entertainment companies pushing woke politics paid the greatest price.
Disney’s stock price fell by more than 40% this year and has weak long-term profit projections.
The company struggled with a resistant audience all year long, shoehorning LGBT propaganda into their films, including ones made for children such as Lightyear.
Disney also invested in an adult swim cartoon FX show promoting satanism, called Little Demon, which features witchcraft, pagan rituals, blood, gore and nudity.
Disney also faced a massive public relations crisis after publicly standing against Florida Governor Ron DeSantis on a bill that prohibits teaching radical sexual ideology to kids in grade school. This pushed them into a corner with their family-friendly audience, and caused the governor to move to revoke the company’s special tax privileges.
Netflix experienced two consecutive quarters of subscriber loss, resulting in massive layoffs and starting their new year with a stock cut by 50%.
Comcast, which owns NBC, MSNBC and Universal, is down more than 30% for the year.
It appears as if audiences are getting sick of paying for movie tickets, only to be shamed and berated by characters pushing woke ideology.
One such prominent example from 2022 is the movie Bros, which touted itself as a bastion of progressivism for being the first explicit gay romantic comedy.
Unsurprisingly the movie bombed at the box office, as there are very few moviegoing Americans who care to watch far-left progressives denegrate traditional families.
On the other hand, Top Gun: Maverick, which did not bother integrating woke themes and took a pro-America stance, was one of the top grossing movies of the year.
 Major Hollywood entertainment businesses lost a combined $542 billion in market value in 2022, with the Walt Disney Company, Netflix and Comcast making up the largest portions of the loss.){kind=link}