Disney Is Taking More Money From Customers, Here’s How
Disney CEO Bob Iger recently stated in comments to the press that the company was in worse shape than he realized, signaling a desperate need for a fast influx of cash. As a result, Disney theme parks are now raising prices on a number of their attractions in order to fund a $60 billion expansion investment. According to a recent write-up in Deadline, Disney World Orlando is now raising their rate for annual passes by nearly 10%.
Disney World is going to be more expensive from now on, with annual passes, daily passes, and parking increasing in price.
In addition to the cost of an annual Disney World pass rising to a rate of $1,449, the park will also be charging non-hotel guests $30 in parking per day. This is a $5 increase from the parks’ earlier parking pass, which seems to confirm that inflation has struck nearly every aspect of the Disney experience. Though parking remains free for hotel guests at this time, the prices for a stay in the conglomerate’s resorts can be extremely pricey as well, especially during peak times of the year, such as June through August.
Daily passes for Disney parks are also seeing a price hike, with the most expensive tier reaching nearly $200 per ticket before even factoring in fast passes and genie passes, allowing users to reserve their place in line.
The $60 billion expansion plan is set to take place over the next decade, with Disney executives pitching their strategy to Wall Street analysts to ensure the investment is sound. Apparently, the media giant plans to tap into a largely ignored audience of consumers by increasing their focus on stories, scale, and fans, with plans to add a number of new attractions and entertainment options as the new funding allows.
Daily passes for Disney parks are also seeing a price hike, with the most expensive tier reaching nearly $200 per ticket before even factoring in fast passes and genie passes, allowing users to reserve their place in line. These new rates are being rolled out alongside a host of new promotions and limited-time discounts in order to court new and returning Disney patrons despite the increased rates. The reservation window for the parks has also increased to 120 days, allowing visitors the option to plan nearly every aspect of their experience well in advance of their visit.
Despite their many exciting new promotions, it still comes across quite disheartening that the multi-billion dollar company has taken to raising their rates to fund new expansions from the dollars of their consuming public. This is especially interesting in the wake of the now-concluded WGA strike and the still-ongoing SAG-AFTRA strike, both of which maligned Disney as a major holdout in negotiating a fair deal. CEO Bob Iger specifically made several insensitive and dismissive remarks regarding the strikes, which echoed across the picket lines for weeks as a staggering example of the AMPTP’s unwillingness to view their union-represented partners as worthy of fair treatment.
These new rates are being rolled out alongside a host of new promotions and limited-time discounts in order to court new and returning Disney patrons despite the increased rates.
As economic uncertainty looms, student loans are becoming unfrozen for the first time in three years, and streaming services such as Netflix and Disney+ seek to crackdown on password sharing, it truly seems that every facet of life is being impacted by rising costs. For those of you looking to book a Disney trip soon, it may be prudent to pick up a few additional overtime shifts in the coming weeks as you weigh out the overall costs.
