Higher prices helped Disney theme park profits rise fivefold to $2.2 billion

Recent price hikes have seen the company’s Disney theme parks.Its profits are rising despite fewer visitors – leading many to accuse parks of stealing loyal customers in order to boost their bottom line.

Since reopening in April of last year, the company has made a raft of changes to its iconic parks in Florida and California, eliminating free perks and increasing prices, causing a The cost of visiting one of the Disney resorts rises significantly.

Visitor numbers at the park are down 17 percent — but Disney’s earnings from each guest are up 17 percent a year, helping boost the company’s profits.

The company’s stock price has fallen by more than a third in the past 12 months, due in large part to the controversy over Disney’s opposition to the so-called No Less Gay Bill in Florida, and it has woken up movies like Lightyear that rattled viewers.

But acquisitions at its theme parks – the most profitable part of Disney’s business – remain in very poor health.

Disney made $7.4 billion from its parks in the last quarter of fiscal 2022 — a 70 percent increase from the previous year, when it was recovering from the COVID shutdown.

Profits also rose to $2.2 billion in that quarter – a massive jump from $356 million recorded in the same quarter 12 months ago, The Wall Street Journal mentioned.

One of the most profitable changes is the implementation of the $15 per day Genie+ pass, which was previously free. It serves as an app on guests’ phones, and lets them skip some lines on flights.

Genie+ also offers merchandise promotional signs, which help divert expensive souvenirs that parks are so famous for. It is used by half of all guests – 70 percent of those who downloaded it said they would do the same on a future visit.

But the Genie+ card doesn’t grant all the rude guest wishes, as visitors are required to pay upwards of $10 to $17 extra to get access to some of the parks’ most popular attractions—despite having already paid about $100 per entry ticket.

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The surcharge applies to rides at Disneyland, Star Wars Galaxy Kingdom Area, and Guardians of the Galaxy rides at Disney World.

Disney’s $15 per day Genie+ app is credited with helping drive revenue. Helps guests skip lines

The company's Magic Bands — which serve as hotel keys and park tickets — went from being free to $34.99 each.

The company’s Magic Bands — which serve as hotel keys and park tickets — went from being free to $34.99 each.

Meanwhile, parking and magic wrist bracelets, which act as room keys, parking lanes and It used to be free, it will now run guests $35—just one example of a company that previously charged a supplement.

Other benefits that were once free that would cost revelers a pretty penny include long-gone perks like parking, now $30.

A complimentary shuttle service from the airports to the parks is packaged for Disney hotel guests. Early access to the parks for hotel guests has been reduced from 1 hour to 30 minutes.

Additional evening hours after the parks are closed to the general public are now only available to guests staying in esteemed hotels.

The price hikes – which were mostly implemented over the past year – were also affected by the price hikes Hotel rooms, dining and merchandise, all of which rose significantly in excess of the record 9 percent inflation rate.

At Disney World — the company’s most famous park, with 18 million annual visitors before the pandemic — a room at the valued Park Hotel, Pop Century, today costs nearly $168 — more than $70 more than in 2013, when a room at the resort would cost you $95. This is an increase of more than 77 percent.

Prices have also gone up at the luxury Animal Kingdom Lodge, from $486 for a standard room in 2012 to $790 in 2022, a 63 percent increase over a decade.

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Ticket prices at the park — now more than $100 — have risen at nearly twice the rate of inflation during the 2000s, with many asserting the rise comes in an effort to compete with Universal Studios, which opened its Wizarding World to Harry Potter in 2016.

The price of a Pop Century hotel has gone up 77 percent in the past nine years.  The cheapest room cost $70 in 2013, but now comes in at $168

The price of a Pop Century hotel has gone up 77 percent in the past nine years. The cheapest room cost $70 in 2013, but now comes in at $168

The luxury Disney Kingdom Lodge has also seen a spike in prices — rooms that cost around $470 a decade ago are now at $790 a night.

The luxury Disney Kingdom Lodge has also seen a spike in prices — rooms that cost around $470 a decade ago are now at $790 a night.

Snacks are also available at both parks, with Dole Whip, a pineapple-flavored treat sold only at Disney properties, From $5.99 to $6.99 – an increase of 16 percent over a year.

Meanwhile, the park’s popular Mickey Mouse ear bands are no exception to the broad price increases—they have increased by more than a third as of 2021, from $29.99 to $39.99.

Disney has also canceled some of its previously free perks, including shuttle buses from the airport to its parks for people staying at its hotels, sparking outrage.

The unrest comes weeks after company officials made it clear that recent ticket price increases have been offset by an ‘unfavorable mix of attendance’ at Disneyland – an assertion many interpreted as a reference to annual passport holders who typically spend less per visit than regular ticket buyers. .

The Genie + Pass doesn't satisfy every rude guest wish, as visitors have to pay upwards of $10 to $17 more to get access to some of the parks' most popular attractions—like Star Wars: Galaxy's Edge at Walt Disney World Resort at Disney's Hollywood Studios in Orlando

The Genie + Pass doesn’t satisfy every rude guest wish, as visitors have to pay upwards of $10 to $17 more to get access to some of the parks’ most popular attractions—like Star Wars: Galaxy’s Edge at Walt Disney World Resort at Disney’s Hollywood Studios in Orlando

Disney has stopped selling nearly all annual passes — but will still allow existing cardholders to renew.

Annual passes are up 14 percent in one year, from $1,399 to $1,599 per card. Disney has also increased the number of days ticket holders are prohibited from using their season tickets, prompting more allegations that it is looking to cancel passes by stealth.

Fans have since started posting photos of themselves at both Disneyland – which the company has dubbed “the happiest place on Earth” – and Disney World, wearing T-shirts that read “Not Favorite” on social media in protest.

They believe Disney is trying to marginalize them in favor of visitors who spend big on a surprise vacation, or people on a once-in-a-lifetime trip who are happy to blow thousands of rides, food, and souvenirs to get the best time possible.

When asked about the reason behind the streak of price hikes, a delegate said that Disney theme park pricing is determined by the current economic climate and “pure supply and demand … is no different from planes, hotels, or cruise ships.”

Meanwhile, Josh Damaro, Disney’s chief of parks, experiences and products, testifies that the changes have given visitors more choices about how they spend their time and money in the parks, while making the parks “highly commercially successful.”

The price of a pair of mouse ears like these has gone up by a third, from $29.99 to $39.99 a pair

The price of a pair of mouse ears like these has gone up by a third, from $29.99 to $39.99 a pair

Disney's iconic pineapple Dole Whip is up 16 percent per serving per year, from $5.99 to $6.99

Disney’s iconic pineapple Dole Whip is up 16 percent per serving per year, from $5.99 to $6.99

Meanwhile, Josh Damaro, Disney's head of parks, experiences and products, testifies that the changes have given visitors more choices about how they spend their time and money in the parks, while also making the parks more accessible.

Meanwhile, Josh Damaro, Disney’s chief of parks, experiences and products, testifies that the changes have given visitors more choices about how they spend their time and money in the parks, while also making the parks “highly commercially successful.”

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