We have all the news! Find out the future of Park Reservations, plans to adjust Theme Park costs and big theme park expansions that will be coming soon.
Bob Iger’s Return
Bob Iger returned as Disney CEO back in November 2022. Many were hopeful that many issues would be addressed with the return of Bob Iger. Today Iger held his first First Quarter Earnings Call since his return.
This is great news, but Bob Iger also switched focus to the Disney Theme Parks.
We wish that he had better news for the future of the Park Reservation system. No big plans were announced for the end of this reservation system.
The overall usefulness of this system is still being applauded by Disney executives to ensure that a great mixture of Disney Park ticket holders along with Annual Passholders may also be able to enjoy the parks.
In regards to capacity, during the First Quarter Earnings Call, Disney CFO, Christine McCarthy, shared that at peak seasons the overall park attendance was cut by 20% compared to pre-pandemic levels.
In regards to capacity, Disney CFO, Christine McCarthy, shared that at peak seasons the overall park attendance was cut by 20% compared to pre-pandemic levels.
Theme Park Costs
Previously we shared that Bob Iger was shocked by the overall increase in park prices. According to Wall Street Journal, “Mr. Iger was alarmed by increases in prices at Disney theme parks that Mr. Chapek argued would boost revenue and limit overcrowding.”
In this earnings call, Iger addresses these concerns. He first stated that he along with other executive members of the Walt Disney Company is listening to the concerns of Disney fans. In particular, they are listening to the concerns regarding higher prices.
Iger shared the Walt Disney Company aims to be inclusive and there are concerns that with the recent price increases that many families are no longer able to enjoy a Disney Park vacation.
He shared changes to the overall ticket prices that may not look like a big price reduction but offers lower-priced ticketed dates than had been offered previously.
We are hopeful that additional changes will be made regarding reduced prices at the Disney Parks.
During this call, Iger shares that this is an example of how the company is “leaning into our unrivaled brand franchise.” Iger shared that earlier before the call, he was speaking with Josh D’Amaro, Chairman of Disney Parks Experiences and Products, regarding future expansions for Disney Parks.
Iger shared a new goal to bring immersive experiences into the Disney Parks based on many of our favorite films. He shared how the Land of Pandora increased attendance at Disney’s Animal Kingdom and the great success of Star Wars: Galaxy’s Edge.
Iger shared a new goal to bring immersive experiences into the Disney Parks based on many of our favorite films
In the coming years, we can expect to see more expansions coming based on films such as the proposed Zootopia addition to Disney’s Animal Kingdom.
What do you think of the possible new expansions? How do you think Bob Iger may address higher prices at Disney Park? What do you think about the Park Reservation system? Share your thoughts with us in the comment section.
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