Former Walt Disney (DIS) – Get Free Report CEO Bob Chapek appeared to have a very simple plan for making the company’s California and Florida theme parks more profitable. It’s a price increase.
Call it Death by a Thousand Pieces of Paper, but the former Disney boss found obvious and sneaky ways to get more money from his customers.
These price increases were necessary when COVID-19 forced the company to limit attendance, and they continue to do so even as more regular crowds return.
Yes, Disney World’s four theme parks are ostensibly keeping their maximum attendance a bit lower than they were pre-covid to give visitors a better experience, but that’s not all.
Chapek realized he could make more profit by charging more, but could accept fewer visitors. Not all of these price increases were reflected in ticket prices (although they were).
Disney has slowly increased food prices, reduced some prices, and eliminated perks such as free Magic Bands for guests and Annual Pass holders. Theme park operators are also ramping up after-hours events for an extra fee, shortening the day at one (or more) of Disney World’s four theme parks to offer a second for more premium, less crowded events. sold tickets for
The most egregious change, however, is apparently Disney ditching the free FastPass+ and replacing it with two paid products: Genie+ and Lightning Lanes.
To have a fun day at Disney World, you basically need to buy a Genie+ (which I definitely do during the holiday season). If you want to ride the hottest rides without giving up half your day, you need to buy Lightning Lane.
With holiday season crowds now flocking to Disney World, the company has some bad news for visitors who are more or less forced to purchase these previously free add-ons.
Disney Genie+ prices hit all-time highs
The Christmas and New Year seasons are Disney World’s busiest times of the year. Hotel prices are high, park reservations (mandatory) are hard to come by, and the company’s flexible admission prices are at all-time highs.
Crowds are everywhere and demand is so high that the company can charge almost as much as they want for Genie+. The service allows park visitors to wait in shorter lines at many popular attractions. Prices for Genie+ vary, but are currently at all-time highs according to BlogMickey.com.
“After kicking off the holidays with a price of $25, Disney Genie+ skyrocketed to an all-time high of $29 today as Disney capitalized on holiday crowds and increased wait times. , was set at $29 during Thanksgiving week,” the website reported.
Disney theme parks are thriving
Disney’s theme parks have recovered after the coronavirus shutdown. Chapek talked about the park in his final earnings call before being surprisingly sidelined in favor of his predecessor, Bob Iger.
“Our parks team is focused on enhancing the guest experience and creating the magical memories I mentioned at the beginning,” he said.
“This focus, along with the investments we have made to bring new attractions and experiences to our national parks, has generated consistently strong demand, often exceeding current capacity.”
Chapek also highlighted the success of surcharge events.
“One of the things our guests love the most is the opportunity to celebrate at our parks, as evidenced by our post-pandemic return and sold-out special ticket events like the Oogie Boogie Bash and Mickey’s Not-So-Scary Halloween Party. is being done,” he said. He said.
“I visited Disneyland with my family just before Halloween and the celebration was phenomenal. Tickets for Mickey’s Very Merry Christmas Party at Walt Disney World are now officially on sale. More than half of all dates are already sold out.”