Disney CEO Bob Iger cancels theme park price hikes under Bob Chapek

According to the report, Walt Disney Co. under new boss Robert Iger reverses some of the price increases at Disney theme parks that were introduced by his ousted predecessor.

Josh D’Amaro, chairman of Disney theme parks, sent a letter to employees saying the company would restore the free services that were introduced during Iger’s first departure as CEO before he was replaced by Bob Chapek in 2020.

The memo states that visitors to Disney theme parks in Orlando, Florida and Anaheim, California will no longer be charged for uploading their photos during the rides. They will still have to pay for the photos if they want them printed.

Chapek ended the free service in 2021, charging Disney World annual pass holders a fee to upload photos taken while traveling and meeting Disney characters.

D’Amaro also said the company, which is celebrating the 100th anniversary of Disney Studios, will “significantly” increase the number of days Disneyland tickets are sold at the lowest price of $104.

For most high-demand dates, Disney charges $179 for adults. But now the company says it will increase the number of days that $104 tickets will be available to two months a year, according to the New York Times.

Iger also canceled the parking fees he introduced for guests at Disney-operated hotels who travel to theme parks. Disney pissed off visitors in 2018 when it started charging $15 to $25 per car per day.

Admission to Disney World, where the most expensive $159 ticket was raised to $189 last month, will remain the same. Last year, Disney also raised the prices of its passes and the Genie Plus add-on to skip the line at Disneyland.

In fiscal year 2022, Disney theme parks generated $28.7 billion in revenue and $7.9 billion in profit, up from their pre-pandemic figures compared to 2019 ($26.2 billion in revenue, $6.8 billion in profit).

But in late November, Disney stunned the corporate world by announcing that it was firing 62-year-old Czapek after just two years at the helm and that he would be replaced by the man who chose him as his successor, 71-year-old Iger. .

During Čapek’s tenure, Aiger was reportedly critical of many of his moves, including the controversial decision to raise ticket prices at Mouse House theme parks.

According to a Wall Street Journal report, Iger told confidants that Capek is “killing the soul of the company” by shifting Disney’s focus from traditional business units like theme parks and television to streaming.

Decades ago, a middle-class family of four could comfortably afford a trip to Disney theme parks and splurge on lodging, amenities, attractions, food and drink.

But fans are now complaining that the experience has become too expensive and out of reach for many ordinary Americans.

A recent study by LendingTree.com found that 18% of those who visited parks in Florida or California borrowed money to do so.

A survey of over 1,500 respondents found that of the 87% of Americans who visited a theme park, nearly three in four (74%) were at a Disney establishment.

According to data-tracking firm SJ Data Visualizations, tickets to Disney theme parks have grown by more than 3,871% over the past 50 years.

The surge far outpaces visitor wages, as well as the cost of rent and gas.