Last Updated on February 11, 2025 by Bertrand Clarke
The Walt Disney Company appears to be subtly adjusting its approach to Diversity, Equity, and Inclusion (DEI) initiatives, signaling a potential shift away from overtly “woke” policies. This comes as Disney faces increasing pressure from activist investors who are urging the entertainment giant to prioritize financial performance above all else.
The latest evidence of this change is the omission of the “Reimagine Tomorrow” program from the Diversity, Equity and Inclusion section of Disney’s 2024 SEC 10-K report. This program, which was prominently featured in the 2023 report, was defined as “the Company’s digital destination for amplifying underrepresented voices and features some of Disney’s DE&I commitments and actions.” The program gained notoriety after a leaked “all-hands” meeting in 2022, during which a Disney executive openly discussed her “not at all secret gay agenda.”
Despite its removal from the SEC filing, the “Reimagine Tomorrow” webpage remains active. Its stated mission is to “amplifying underrepresented voices and untold stories as well as championing the importance of accurate representation in media and entertainment.” The page also provides data from 2021, listing racial and gender breakdowns of Disney’s content and workforce, and highlighting their Business Employee Research Groups dedicated to representing employees from diverse ethnic backgrounds.
The disappearance of “Reimagine Tomorrow” from the SEC filing, coupled with another DEI program being dropped, suggests a deliberate effort by Disney to downplay its commitment to these initiatives. This apparent pullback likely stems from a growing concern among investors that these policies are alienating a significant portion of Disney’s audience and negatively impacting the company’s bottom line.
While Disney has not made any official announcements regarding a change in its DEI strategy, the subtle adjustments are indicative of a company responding to external pressures and re-evaluating its priorities. Whether this marks a significant departure from Disney’s previous stance remains to be seen, but it’s clear that the company is navigating a complex landscape where social responsibility and financial performance are increasingly intertwined. The future of Disney’s DEI efforts will likely depend on the continuing influence of activist investors and the company’s ability to balance diverse perspectives with the demands of its shareholder base.
