During a recent Morgan Stanley media conference, Bob Iger, the current CEO of Disney, acknowledged that the company’s previous aggressive pricing strategy for theme park tickets was not the best way to manage the brand, and that fans had a right to be upset. Iger emphasized that he has always believed that Disney should be an accessible brand, and that while it’s important to grow profits, there is a way to do so without sacrificing the brand’s value of accessibility.
After returning to his role as CEO in November 2021, Iger made some changes to pricing and perks at Disney’s theme parks. For example, he lowered some prices and added perks at Disneyland and Walt Disney World, such as resuming complimentary self-parking at resort hotels and offering free photo downloads with the Genie+ service. Additionally, he expanded park-hopping hours and added more of the lowest-priced day trip tickets at Disneyland.
Disney CEO Bob Iger has expressed that his focus is on succession planning at the company. He also stated that Disney will continue to listen to consumer feedback and make necessary adjustments to enhance their guest experience while maintaining accessibility to the brand. However, Iger noted that attempts to reduce overcrowding can sometimes result in increased prices and features that consumers may perceive as overly aggressive.
Iger also hinted at further expansion with new attractions and capacity, with a focus on Disney’s intellectual property, such as the recently announced Avatar experience coming to Disneyland. The theme parks are a significant aspect of Disney’s business, and despite the pandemic, they have bounced back impressively. Iger mentioned that the parks have shown resilience during challenging times in the past, including the recession of 2008-09 and the terrorist attacks in 2001. Additionally, he mentioned that assessing Hulu’s long-term value is a tricky task, especially as Disney approaches a decision point with Comcast.