Disney CEO Bob Iger Concedes “Aggressive” Pricing Strategy Hindered Accessibility

Disney’s pricing structure has been criticized repeatedly by fans. The Walt Disney Company, during former Disney CEO Bob Chapek’s tenure, instituted massive price increases that not only upset many fans but actively priced out families. While many airlines, resorts, and hotels are currently seeing the highest prices they’ve ever seen Disney has become particularly pricey in the last few years, and on March 9, 2023, while speaking at the Morgan Stanley Technology, Media & Telecom Conference, Iger acknowledged and admitted that perhaps, Disney’s pricing strategy had been too “aggressive” in recent years.

Over the last few years, Disney Guests have seen some significant price rises. Whether the change in pricing from the Disney Genie suite’s Genie+ from a fixed rate to variable pricing (during which it’s seen some high numbers) or the change in ticket prices that Guests have seen as well, it’s been one price increase after another.

After Bob Chapek was ousted from his position, the Walt Disney Company has gone through a reorganization involving some key Chapek allies losing their jobs, as well as major upcoming layoffs.

But in the midst of all these changes, Bob Iger did take the time to mention that Disney’s pricing strategy was too aggressive, admitting that Disney lost one of its most important values because of this change. It’s accessibility. Iger shared,

I think that in our zeal to grow profits, we may have been a little bit too aggressive about some of our pricing. And I think there’s a way to continue to grow that business but be smarter about how we price so that we maintain that brand value of accessibility. 

This is a particularly interesting statement from the Walt Disney Company, considering that for years during the price rises, Bob Chapek insisted that Disney’s operations were intended to allow families to visit a Disney Theme Park, despite simultaneously constantly increasing prices at the Disney Parks.

While it’s unlikely that we’ll see a drop in prices anytime soon, what we can indeed say for certain is that Disney is looking to listen to its consumer, as they have proved recently, and these statements of acknowledgment might indicate change on the horizon.