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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.
During this call, many big announcements were made including big job cuts for the Walt Disney Company, a brand new Avatar experience, and also three great sequels were announced.
This is great news, but Bob Iger also switched focus to the Disney Theme Parks.
Park Reservations
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.
Expansion Projects
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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Milton Finkelstein
Friday 24th of March 2023
Genie plus needs to go. It is confusing to use. Fast pass plus worked great and wouldn't add extra cost to a day at the parks if they are serious about lowering costs then it must go.
Carolin
Thursday 23rd of March 2023
Our family love WDW so much and have so many good memories with our children and grandchildren, we loved oit so much we became DVC members and visited often. But with all the changes with park reservations, fast pass gone, high ticket prices, no dining plan, and the list goes on, we have not returned in 3 yrs. We miss Disney but everytime we plan to return we get discouraged because of all the changes, Disney is not the same and it saddens us. Please bring back free fast pass and take away park reservations. It would be very much appreciated and would be so thrilled and overjoyed!
Richard Lira
Saturday 11th of March 2023
Well Genie+ is not good for the Disney co. And there guests fast pass was and is a much better system. And bring back the season pass of old it was so much fun knowing we can attend the park at any given moment. It was working and families of very low income were still able to afford the park so their children can experience the magic of the park.now these kids will never be able to see the wonderful world of magic. Please bring back the magical years.
Jose R Martinez
Saturday 11th of February 2023
They should get rid of the park reservation system. I see the system as a deterent. It deters last minute; spontaneous families "Guests of all ages" to take a trip to the Disney parks. I myself have woken up; packed up; jumped on a flight and have even taken that 18 to 19 hour drive. Just to spend a few days at the parks. As a DVC member, I appreciate that I can (sometimes) find last minute accommodations in one of the amazing Disney resorts. Disney is a place where I go to forget about adulting. Well, you get what I mean. It's a place where you take your kids to have the experience of a life time. The moment their face lights up as you pull up to any of the parks. The excitement that you experience through their eye; their smile and laughter. How you can never forget the first time or even the second. Disney is a place where your age does not matter. You can be 5 years old or even 80 years old. I remember the first time I took my grandmother, my mother and my son for the very first time. They had an amazing time. My grandmother did every ride( including Hollywood tower of terror). Till the day she passed away she asked me, when was I taking her to Disney again? But the reservation system and the prices did not give the opportunity. I have where scheduling time off is difficult. So, I have to make things happen. The reason I do a lot of last minute trips. As I am sure, I am not the only one.
Jose
Friday 10th of February 2023
Immersive experiences are great, provided they can handle large flows of people. They are no good if only a couple thousand people a day experience them. Toy Story 6 and Frozen 3? A little too much. Granted Disney need a box office hit, so the known franchises work. How about a Ratatouille 2? Sadly, very sadly there has not been any good original content for over 10 years.