BURBANK, California: A note by Needham media analyst Laura Martin released this week revealed that CEO Bob Iger told investors that Walt Disney would "quiet the noise" in its culture war against social conservatives in the U.S.
Iger's statement was part of an investors' presentation on Tuesday at Walt Disney World Resort in Orlando, Florida.
Iger also announced that Disney will double its investment in theme parks and cruise ships over the next decade.
The global media and entertainment conglomerate faces many challenges, such as making its streaming business profitable, improving the quality of its films, and potentially closing its television networks.
In 2022, Disney publicly criticized Florida legislation restricting classroom discussion of sexual orientation and gender identity.
In response, Governor Ron DeSantis responded by campaigning against "woke Disney," and used state legislature to remove the company's self-governing authority over its parks in the state.
Conservative commentators have also criticized Disney for its casting of Halle Bailey, a Black actress, in the lead role of Ariel in its recent live-action version of "The Little Mermaid."
In 2022, several countries banned the Pixar Animation Studios film "Lightyear," which depicts a same-sex couple kissing.
During the company's annual shareholder meeting in April, Iger responded to an investor who said that Disney was becoming too concerned with social issues.
"Our primary mission needs to be to entertain and to have a positive impact on the world. I am very serious about that. It should not be agenda-driven," he said.