This past year, Hollywood had its share of end-of-the-year drama. According to estimates, the entertainment industry lost more than half a billion dollars in revenue in 2022. This is probably going to be one of the movies that the theater shows.
But it was written on the board:
“Most TV stations, cable networks, and other media companies lost a total of $542 billion in revenue in 2022, with left-leaning companies like the Walt Disney Company, Netflix, and Comcast being responsible for most of the bloodshed.”
“The Dow Jones Media Titans index, which tracks the performance of 30 of the world’s biggest media companies, lost 40% this year, with its total market value falling from $1.35 trillion to $808 billion.”
The losses are much bigger than those in other industries like banking, which saw a 14.5 percent drop, and telecommunications, which saw an 11.2% drop.
But Still Went On:
“Hollywood’s golden age was the result of a one-and-a-half-inch drop in the stock market, with stock prices continuing to fall by the millions. Also, the meeting has talked about how households are feeling as the costs of necessities like food and energy keep going up because of President Joe Biden’s bad economic policies.
“Women-owned businesses did the best work.”
People have noticed that the Walt Disney Company ended up with the biggest financial losses in the entertainment business. Micah Moses saw his meeting line and stacked ice blocks.
But he added, “Disney, whose stock is about to hit its lowest level since 1974, sent 2022 to promote LGBTQ activism and won a political battle with Florida Governor. Ron DeSantis (R) bought the state’s veto rights in the Education Law.”
“Netflix had two consecutive quarters of subscriber losses this year, which led to layoffs and cost-cutting all over the company. For the most part, the stock market is down more than 50%.”
“Other big business losers include Point Global, whose stock has dropped more than 40%, and Winner Boss. CNN’s content network, Discovery, whose stock has dropped more than 60%.”
It is thought that one of Disney’s biggest mistakes was taking on Ron DeSantos, who used his own God of Water against Disney. Disney vehemently opposed the President’s Civil Rights Education Act, even though they might have to go to court to stop the bill. DeSantos quickly ended the conflict by getting rid of their special tax district outside of Disney World in London, which helped the economy in a big way.
Ron DeSantis denied it:
“They went by themselves and didn’t just pay the bill. They tried to get it to work.
“These are the parents’ rights, important policies in one way that they are all right. So they worked it out on their own. We did nothing but wait for what’s right. And yes, they are both very common. But, wait, what? We stand by our friends. And I don’t know what a banana-based climate change is all about.”
Many people think that these financial problems are caused by the politics of the entertainment industry at the expense of profit. “Leftist Hollywood keeps dishing out bad news after bad news… and it’s great to see how their bad news turns out,” Beitbut wrote on Twitter.
This time of year, you can’t look at Hollywood without hearing the timeless phrase, “Go to hell, you fool!”