I was recently in a classroom listening to another professor and students discuss woke, and part of the conversation correctly identified that often people don’t really have an idea of what they mean; woke is simply a pejorative label. And while there are good explanations of what woke is and what it is not (let the reader be a Berean and do their own search), I think we can at least identify the most salient feature of what a “woke” corporation is: a focus not on what the customer’s needs and desires are, but what the company wants to communicate to other stakeholder considerations.

This is nowhere more evident than the Disney Corp. I’ve highlighted some of the issues with Disney previously, such as their agenda to promote the LGBTQ agenda to kids. Their progressive workforce has had an outsized influence on how Disney has morphed from a traditionally family-friendly business to the idea of being a progressive force for change in culture. This leads more conservative Americans to distrust the company, which likely leads to some of their disappointing business results. I’ve been somewhat amazed by Disney’s lack of focus on the fundamentals, which is of course leading to their share price approaching levels not seen for almost a decade. Their theme parks significantly underperformed in the summer, as ticket prices have significantly exceeded inflation for decades. As the WSJ related this summer:

Theme-park fans have loudly complained in recent years about Disney raising admission prices and eliminating free amenities. Stephanie Oprea, an Atlanta-based senior planner and director of marketing for Pixie Travel, an agency specializing in Disney vacations, says costs are giving travelers pause. “People might be a little bit fatigued with price increases based on the economy at the moment,” Oprea says, noting that some clients have considered cruise or beach vacations rather than returning to Disney’s parks due to recent price increases. At Disneyland, the company increased the cost of multiday tickets by 9% or more in October (2022), with the price of a two-day ticket rising from $255 per adult to $285. 

So what did Disney do this week? You guessed it, they’ve raised prices again–let the beatings continue until morale improves! Given the average American’s struggle with inflation, and the diminished sales they’ve had from previous price hikes, one would think Disney might be responsive to their customers. But apparently not. This is entirely consistent with the woke mentality that the agenda is to be served, not the customer. I don’t think the conservative triumphalist cry of “Go Woke, Go Broke” is necessarily true. However, a company that goes woke and attacks a significant part of its customer base (or at minimum prioritizes its employees and the way that the popular culture views it ahead of its customers), is not going to succeed over the longer term. That’s the beauty of the competitive market system–failure by Disney to serve its customers well will, over time, lead to opportunities for better service by others.