Whether by choice or out of necessity, Americans voted with their dollars in a big way in 2022, and those financial moves spelled disaster for Hollywood now facing more than half a trillion dollars in losses.
At all levels of corporate media, consumers have been faced with a constant barrage of progressive narratives from social justice causes to climate activism and radical gender theories. The desire to escape into fiction for entertainment has been sullied by those only ever striving to advance their personal agenda resulting not in the change of hearts and minds, but in major box office flops.
While the signs were clear throughout the year that the film industry and media kin were facing a downward trajectory, the Financial Times recently reported with concrete data just how bad the situation has grown.
Analyzing the performance of the world’s top 30 media companies as presented by the Dow Jones Media Titans index, the Times saw an overall 40 percent loss in market value for them. Put another way, having started the year with a market value of around $1.35 trillion, those 30 companies dropped by just over half a trillion dollars to now be worth about $808 billion.
To emphasize how dramatic those losses were, by comparison, other industries like banking and telecommunications dropped 14.5 and 11.2 percent respectively
“It’s been a perfect storm of bad news. I’ve been covering this sector a long time and I’ve never seen such a bad collection of data points before,” said Michael Nathanson, media analyst at SVB MoffettNathanson, to the Times. That perfect storm included a growing distaste for Hollywood’s agenda-driven storytelling, streaming subscription totals dropping alongside cable subscriptions, and the ever-present burden of contending with the inflation brought forth by the very same progressive policies that are being propagandized by corporate media.
In some cases, the financial woes of crippling inflation have set food and utilities well above any luxury items and advertisers had dropped too because of slowing demand for goods.
Still, as leftists remain unwilling to cede any ground in the culture war, rather than admit that Walt Disney was on track to see their biggest annual drop since 1974 at roughly 45 percent of their value, corporate media laid cover and suggested, “The shares have come under more pressure in recent days as takings from Disney’s eagerly anticipated Avatar sequel fell short of some estimates in its opening weekend.”
Though it saw a slight spike in late summer, Disney shares had been in a steady state of decline throughout 2022, much of which was attributed to their vocal opposition to Florida Governor Ron DeSantis (R) and his state’s legislative efforts to protect kids from age-inappropriate instructions.
Other media companies feeling the heat this year included: Paramount Global down 42 percent; Netflix down 52 percent; Warner Brothers Discovery falling 63 percent; Spotify shedding 69 percent; and Roku losing 81 percent of value.
The news was celebrated by many who saw it as just dessert for the flaunted disconnect that corporate media has espoused from consumers.
Thank god, it’s good to see the temple crumble.
— Bubba Jeebus FA/FO (@TheLastNail1) December 26, 2022
Wait, am I not supposed to be happy to hear this? My bad.
— RealityAskew (@RealityAskew) December 26, 2022
This makes me so happy to see. People are tired of how perverted they are , how arrogant they are and how woke they are. We enjoyed you when you entertained us but when you thought you were more important than God and family you lost.
— Heather Teixido (@teixido_heather) December 26, 2022
REAP.
SOW.— Nuke Logan (@citizenkane1130) December 26, 2022
Republished with permission from American Wire News Service
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Native of Brooklyn, NY, Kevin Haggerty is a graduate of Hunter College where he studied Cultural Anthropology and Geography. An avid reader and truth seeker, he currently resides in Texas with his wife and their dog and, when he isn't researching current events and their impacts, you'll find him spending time with friends and family or working on his next novel.
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