Earlier this week, Disney CEO Bob Chapek shared the news that Theme Parks recorded more profits with lower attendance, crediting fans’ adoption of extra-cost systems like Genie+ and Lightning Lane options for assisting in the jump in numbers.
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The Press Release explains,
Operating income growth at our domestic parks and experiences was due to higher volumes and increased guest spending, partially offset by higher costs. Higher volumes were due to increases in attendance, occupied room nights and cruise ship sailings. Cruise ships were operating during the entire current quarter while sailings were suspended in the prior-year quarter. Guest spending growth was due to an increase in average per capita ticket revenue and higher average daily hotel room rates…Higher costs were primarily due to volume growth, cost inflation and new guest offerings.
Chapek also recently alluded to a further price increase at the Theme Parks in a recent interview from CNBC, explaining that they are prepared to be “flexible” with their pricing.
“We can move on a dime,” he said. “We operate with a surgical knife here. We’re at a level of sophistication with our pricing.”
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Meanwhile, price hikes for Disney+ were also announced as the new ad-supported tier of the streaming service was confirmed to be launching on December 8 at the cost of $7.99/month. This will send the ad-free tier, Disney+ Premium, to $10.99/month.
But while price increases are normally met with harsh criticism from the fan base, it appears that some fans are actually okay with paying a little extra for what the Mouse House is prepared to give them.
Some of these fans spoke up on Reddit.
“I’m not a fan of Chapek, but he’s not wrong,” one Guest said in a Reddit thread. “Short of seriously expanding the parks, there’s not much they can do to deal with the crowds right now.”
Another said, “I am fine with Disney being expensive if it is worth it. I don’t care if they double the ticket price, they need make it worth that price. Open everything back up, pay everyone more, invest in cleaning up the parks, invest in new stuff, stop cutting back on the previously announced new stuff, stop shrinking food portions, and stop nickel and diming us.
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Disney has always been expensive, but it has also generally been worth it. We are approaching a point where it isn’t anymore.”
We at Disney Fanatic will continue to update our readers on Disney Parks news and stories as more developments come to light.
