Disney just filed its annual form 10-k with the Securities and Exchange Commission—and it contains some stunning admissions.
The company acknowledges that it is having problems with declining profitability because their content is increasingly out of step with consumer preferences. They also admit their politicking may be hurting the company's brand.
But didn't we know that already? What's new here?
What's new is that the company is admitting it in an official document registered with a powerful regulatory authority.
To this point, Disney has tried to spin us with stories which avoid the core problem. The problem wasn’t too many Marvel sequels. The problem is that most of them pandered to progressive causes.
It's one thing to try to spin the press. It's another thing to mislead the SEC, which has severe legal consequences. In other words, Disney pretty much had to tell the truth this time.
Now it's time to hold them accountable. Now shareholders have the right, indeed the duty, to talk to the company.
Seize that opportunity!
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