Bob Iger Says Disney Theme Parks Were Priced Too High In “Zeal To Grow Profit” – It’s “A Brand That Needs To Be Accessible”
09.03.2023 - 23:37
/ deadline.com
Returned Disney CEO Bob Iger acknowledged that fans had a right to be irked as theme park ticket prices crept higher under the previous regime, and said it wasn’t the best way to manage the brand.
“I always believed that Disney was a brand that needs to be accessible. And 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 is a way to continue to grow our business, but be smarter about how we price so that we maintain that brand value of accessibility,” he told a Morgan Stanley media conference Thursday.
He stepped back into Disney’s corner office last November after former CEO Bob Chapek left in a sudden move that ushered in a wave of changes.
At theme parks, Iger made a move by Jan., lowering some prices and adding perks at Disneyland and Walt Disney World. That included, at WDE, resuming complimentary self-parking at resort hotels, relaxing reservation requirements for annual passholders, and offering free photo downloads with Genie+ service. At Disneyland, he expanded park hopping hours and added more of the lowest-price day trip tickets, as well as the complimentary photos.
The shifts “have resonated extremely well with consumers, and we will not only continue to listen to consumers, but we will continue to adjust,” Iger said.
He noted the perpetual challenge of trying to improve the guest experience by reducing crowding. Moves to do that can “actually end up increasing the price, or putting features into your pricing that are viewed by consumers as being a little too aggressive.”
And he hinted at more expansion with “new capacity and new attractions,” including, maybe led by, California, and focusing on Disney IP — like recently