YouTube: Jimmy Kimmel Live!A lot’s happened since Jimmy Kimmel Live! was suspended by ABC, one of which involved widespread calls to boycott the network’s parent company, Disney. But how this has impacted the entertainment giant’s bottom line is far more complicated.
Kimmel was blasted by the Federal Communications Commission (FCC) chairman Brendan Carr over comments he made on last Monday’s (September 15) episode of his chat show about Charlie Kirk’s death.
Nexstar and ABC followed through and soon the series was pulled from the air “indefinitely”. The news has been met with widespread criticism, as it’s seen as part of a wider battle for free speech and media censorship.
Social media was awash with calls to cancel subscriptions to Disney’s streaming services, sell stock shares, and order refunds on trips to Disneyland.
Is Disney really losing money?
There are multiple reports claiming that Disney lost $3.87 billion in value after Kimmel’s suspension, but the IBT ran the figures, and it’s far more complicated.
According to the outlet, Disney’s shares dropped by 0.67% following the announcement. The issue is determining exactly how much this figure represents, as “stock market values for companies of Disney’s size often fluctuate by billions in a single trading session.”
The company’s size also means it’s not unusual for value to fluctuate, and there are multiple reasons for this.
So, while Kimmel being pushed out may have contributed to the dip, there may be other factors too, including the performance of its theme parks and resorts, its many studios like Marvel and Star Wars, and consumer products.
That’s not to say the incident hasn’t had an impact at all, it’s just that oversimplifying it can muddy the waters. Plus, the biggest hit might not be the direct financial fallout but the long-term perception of Disney’s reputation.
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High-profile celebrities such as Pedro Pascal, other late night chat show hosts, and the former POTUS Barack Obama are just a few of the figures who slammed the FCC and ABC’s actions, but even Republicans like Ted Cruz aren’t happy.
The senator, who condemned Kirk’s murder, described Carr’s actions as “dangerous as hell” and “right out of Goodfellas.”
As stated by IBT reporter Michael Toledo, “The Jimmy Kimmel-Disney issue quickly escalated beyond finance. Conservative activists and even Disney stars called for boycotts of Disney, ABC, and the Disney+ streaming service.”
“The controversy adds to ongoing challenges for Disney’s reputation,” he added. “Known for its family-friendly branding, the company has repeatedly faced scrutiny when cultural or political debates intersect with its business interests.”
Will Jimmy Kimmel launch his show elsewhere?
Creative CommonsThe answer to this question is unclear, but this is the situation: sources have said Kimmel and his team are meeting with Disney this week with hopes to bring Jimmy Kimmel Live! back to ABC.
However, there’s a caveat – the media firms reportedly want him to tone down his political rhetoric, as they need Carr’s approval, which not only goes against free speech but is something Kimmel and the wider entertainment industry do not support.
Multiple sources involved in the situation told Bloomberg that Kimmel met with Disney execs last Thursday (September 18) to discuss the future of his show, and they reportedly kept in touch over the weekend and will meet again this week.
The insiders said Disney has also been talking to TV broadcasters Nexstar Media Group and Sinclair about carrying the series if it returns. While Disney is said to want Kimmel back, CEO Bob Iger and entertainment head Dana Walden have asked him to tone down his political chat.
“Kimmel won’t apologize, nor does he want to be muzzled or censored. He also doesn’t want to put 200 employees out of work or give Trump a scalp,” the report says.
Now, fans are calling on Kimmel to bring his show to another network or even launch it independently, but with negotiations ongoing, we will have to wait to find out next steps.
As said by one on X/Twitter, “Jimmy Kimmel should use this as a chance to start his own show on YouTube. Late night talk shows are dying. We don’t need large television networks to reach audiences anymore.”
“Kimmel has every right to tell them to f**k off, and should. Start your own show, Jimmy, if you must,” wrote another, while a third added, “Honestly Jimmy Kimmel should tell them to kick rocks! Start your own online show or something.”
Stefan Raab, a German entertainer and host, even invited Kimmel to take over his show whenever he fancied it.
As he said on a recent episode, “I’ve heard that they canceled your show. As I don’t like that as I’m a big fan of yours and a big fan of uncensored entertainment, I offer you to take over my show whenever you want.”
In the meantime, read about if Who Wants to Be a Millionaire? has been canceled by ABC and if Kimmel really is in a feud with Matt Damon.