In an interview with CNBC, The Walt Disney Company CEO Bob Chapek said that more price hikes will likely hit Disney theme parks soon to meet consumer demand.
Here is Chapek’s full quote:
Well, we always watch our demand. When you’re playing a yield game like we are right now and you have the flexibility with our reservation system, we can move on a dime. We read demand. If demand goes up, we have the opportunity to do that. We have no plans to announce right now in terms of what we’re going to do, but again, we operate with a surgical knife here. We’re at a level of sophistication with our pricing that not only does it maximize shareholder value, but it enables us to provide a value to guests no matter what time of year they want to come. It’s all up to the consumer. If consumer demand keeps up, we’ll act accordingly. If we see a softening, which we don’t think we’re going to see, then we can act accordingly as well.
Disney Parks revenue has been rising, as we saw again during yesterday’s earnings call. Outside of the parks, Disney+ got 14.4 million more subscribers during Q3 2022 and will be raising prices with the launch of their ad-supported tier in December. Disney also stated that they expect to increase capital expenditures to $6 billion.
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does bob the beancounter ever do anything except discourage people from going to disney?
Geez man when is enough enough.
What a loser, how about he cut his whopping salary and stop making Disney unattainable?
He’s not wrong you know. Prices raise at every business due to supply and demand. It’s just business.
All the leadership in Disney must go they are trying to make it for only people who can afford it like the RICH and who cares about the families who have to save up for it over years (they say forget about them). Walt if it was possible he would come down and scare the living daylights out of the leadership and the Woke folks. Now is the time for all Walt Disney (THE MAN) fans to join together WORLDWIDE and do the BOYCOTT DISNEY and demand that Disney goes back to Walt’s PLAN! PERIOD!!!
I think Disney’s CEO is an ass. The whole world really needs to stick together and boycot Disney World- it is no longer an affordable place for families to go to and enjoy together. DISNEY IS all about over pricing.
This guy is the worst.
Prices always go people can’t afford for food gifts all can do is walk around and hope you get on a ride
We just walk around because we CAN’T get on rides in under an hour wait!
Like clockwork
That quote could not be any more anti Walt Disney
Can’t let the higher ups go bread lines can we? Disney is pricing the middle class family of four from taking their dream trip!
It maximizes shareholder value…
Current stock price 119 – down from a 52 week high of 187. That’s over33 percent. Where is the maximum?
GREED!
Yes Bob, meet our demands. We want price hikes! If I’m not paying $200 for a single park ticket, then I’m not going to Disney.
Bob Chapek sucks. That quote sucks. They’re hollow words that don’t mean anything at all other than “shareholder”. Reservations, Genie+, Lightning Lanes… it really took the fun out of Disneyland when I went, and for the prices they’re charging, the parks need to be operating at an optimal level that they just aren’t.
Revenue is up 70%, at $7 billion for just the 3rd quarter and he wants to keep raising prices. How much money does this man need? Yachts? Rolls? The greed of Chapek and his regime knows no bounds. He is absolutely the worst person for this job. Hey, you make record breaking profits when you charge record breaking prices, and give us less than ever – another record breaker.
Disney is fast becoming “only the rich need attend”!!! Disney created this experience for all families. Now Bob is trying to make it impossible for families of all walks of life to attend. This is a real shame. What he doesn’t realize is it has become a shopping destination only, as no one can get on the rides. If one does not pay for the lightning lanes or Genie + then, they are likely not able to get on the rides. This is again-if you pay extra-you can ride the rides-alleviating the ability for families to participate. I am a long time annual passholder. Our benefits are being removed and one must pay additional fees to get what we had previously-for example the photo pass. This was a nice perk, but has been removed unless one pays additional fees.
All but the super wealthy will be priced out of the Disney experience. Disappointing and sad.
Unfortunately is it the best way to thin the crowds. Less waiting line will reduce the fights. Less wear and tear with the same revenue. The overall experience will improve.
Bob Cheepskate knows how to impact Disney crowds. Everytime he opens his mouth he gives people a reason why they should stay away from Disney parks.
Walt Disney wanted to build a park where the parents and kids could have a good time together. Now it’s all about “shareholder value”. You not rich enough yet there Bob? I guess you’re succeeding in deciding who you want in those parks. Only the rich and the woke for you guys, huh?
I’m out. It’s only somewhat “ok” to pay a premium, but only when yields premium benefits. I was in the parks in February ’22. You can’t get more than 2 high-end rides in because the lines are insane. Too many people in the parks. Disney has lost focus on the family park experience.
I can’t wait for Disney to hit the wall and they out price themselves! They will be begging people to come to their parks! Walt would have never ran the company this way! Profit over making people happy. Shame on you!!!!
Do what the heck is he really saying here??? More Chapek word salad. Prices will go up anyway. It’s the only way the Disney company can meet Wall Street targets and maintain shareholder value.