Disney is 'making the same mistake as Bud Light' with new woke partnership, former Anheuser-Busch exec warns
Walt Disney Co. joined forces with gender-fluid influencer Seann Altman to market girls' attire
Disney is ‘making a big mistake’ with new woke partnership: Anson Frericks
Former Anheuser-Busch executive Anson Frericks discusses woke politics in business and shares his reaction to Disney facing backlash over a new partnership with gender-fluid social media influencer Seann Altman.
The Walt Disney Co. is facing a Bud Light-style boycott after partnering with a gender-fluid social media influencer to promote women's clothes.
Former Anheuser-Busch executive Anson Frericks said the move is a "big mistake" and it rivals Bud Light's decision to partner with transgender influencer Dylan Mulvaney.
"They are making the same mistake as Bud Light, and I think they've been making the same mistake as Bud Light for over a year now," Frericks said Friday on "Varney & Co."
"They're making a big mistake getting involved in these controversial political issues that have nothing to do with the mission statement of what they're trying to achieve."
DISNEY STYLE PARTNERS WITH GENDER-FLUID INFLUENCER TO MARKET GIRLS CLOTHING: ‘MINNIE IS ME’
The Walt Disney Co. and TikTok influencer Seann Altman — a biological male who identifies as gender-fluid — have joined forces to market girls' attire on social media in the latest move showing Disney's solidarity with the LGBTQ+ community.
Former Anheuser-Busch executive Anson Frericks argues Disney is making the same mistake as Bud Light with its new partnership with gender-fluid influencer Seann Altman. (FOX Business)
The promotional TikTok video posted for Disney Style, a division of the Walt Disney Co. that promotes its clothing and accessories and offers style inspiration to fans, features Altman dressed in a Minnie Mouse-style getup, complete with a red dress with a Mickey Mouse pattern, a white collar, black tights, a white petticoat and yellow heels.
"Minnie is ME," Altman, who uses he/him pronouns, wrote on the post. "I fit right in with Mickey and his friends! @disneystyle."
DISNEY RAISING PRICES OF DISNEY+, HULU AD-FREE PLANS FOR 2ND TIME IN A YEAR
The development comes months after a TikTok showed a biological male dressed as the "Fairy Godmother's Apprentice" while selling dresses to kids at Disneyland's Bibbidi Bobbidi Boutique.
The video, posted by a mom documenting her Disneyland trip, garnered millions of views and received mixed reactions across social media at the time.
Disney is a 'dumpster fire' for capital: Lou Basenese
Public Ventures president and chief market strategist Lou Basenese analyzes Disney's stock price and reacts to consumer prices rising to 3.2% in July on 'Varney & Co.'
It also comes on the heels of last year's contentious battle with officials over Florida's Parental Rights in Education bill, nicknamed by critics the "Don't Say Gay" bill. The fight, which prompted Republican Florida Gov. Ron DeSantis to revoke Disney's self-governing status, extended into this year as well.
Additionally, the entertainment giant has injected LGBTQ+ elements into its programming, including a non-binary character in this year's animated film "Elemental."
Frericks argued the reason Disney's latest partnership along with other woke moves are a "big mistake" is due to the company putting politics over its mission.
"They're making a big mistake getting involved in these controversial political issues that have nothing to do with the mission statement of what they're trying to achieve," he said.
The Walt Disney Co. did not immediately return Fox News Digital's request for comment.
As of Tuesday, Disney shares trailed behind the S&P 500 on a year-to-date and 12-month basis.
PENN, DISNEY'S ESPN $1.5B DEAL SCORES WITH INVESTORS
The broad S&P 500 index has experienced a more than 17.6% rise from the start of 2023 as of Tuesday’s market close. Comparatively, the value of Disney shares have seen little change, dropping just under 1% in the same timeframe.
Stocks In This Article:
Over the past 12cmonths, Disney’s stock has gone down 18.5%; meanwhile, the S&P has climbed about 9.1%.
"You go back one year, what does them getting involved in the parental rights bill in Florida have to do with them being the world's premier family entertainment company?" Frericks questioned. "It has to do with nothing. If you take a look at it, they had an approval rating of 77%. People loved what Disney was doing. It cratered to 33% after that."
Are the dog days over for Disney?
Senior writer Nicholas Jasinski joins 'Barron's Roundtable' to make the case for why now is the time to buy Disney stock amid positive catalysts.
"Even Disney, they had their earnings yesterday and they missed their revenue numbers yesterday. Why? Because millions of subscribers stopped subscribing to Disney+, their theme park attendance is down," Frericks added.
On Wednesday, the Walt Disney Co. also released its third-quarter earnings, which showed mixed results for the entertainment company.
"They're making a big mistake getting involved in these controversial political issues that have nothing to do with the mission statement of what they're trying to achieve." — Anson Frericks
Disney reported $22.33 billion in revenue, compared to analyst expectations of $22.5 billion. The company did report $2.65 billion in one-time charges and impairments, bringing the company to a quarterly net loss of $460 million from a $1.41 billion net income.
Disney's earnings per share (EPS) came in at $1.03 per share, adjusted, compared to the $0.95 expected, according to Refinitiv.
While the company saw a 13% increase in revenue relating to the parks, experiences and products division, domestic parks like Walt Disney World in Florida saw an attendance slowdown.
Wednesday's earnings also showed continued losses in Disney+ subscribers, reporting 146.1 million verses the 151.1 million expected.
CLICK HERE TO READ MORE ON FOX BUSINESS
Frericks argued that Disney's struggles relate to engaging in politics rather than focusing on its mission to be a premier family-friendly entertainment company.
While some brands such as Ben & Jerry's can engage the political sphere with little consequence, Frericks emphasized the need for companies to stick to their mission in order to see success.
"Mission statements are very, very important for a company. What do they do? They set what the purpose of the company is and what it's trying to achieve," Frericks said. "Those clear mission statements, they kind of align investors and employees with what the company is trying to achieve about the products and services that it's trying to deliver to customers to increase shareholder value."
Fox News' Taylor Penley and FOX Business' Aislinn Murphy contributed to this report.