Disney is raising the cost of some of its tickets by up to 10% as it invests $60 BILLION in its theme parks – after the firm already raised streaming prices earlier this year
- Disneyland tickets on busy days now $194, up from $178 – an increase of 8.4%
- Annual passes have also shot up. An Incredi pass now costs $1,449
- It comes as the firm prepares to spend $60 billion in investment in its parks
Walt Disney is raising the price of some of its tickets by up to 10 percent as it prepares to invest $60 billion in its theme parks.
The cost to visit Disneyland in California on busy days such as holidays rose from $178 to $194 – a difference of 8.9 percent.
Meanwhile, annual passes will rise between $40 and $50, with its premium Incredi-Pass now costing $1,449, up from $1,399. The permit provides holders access to one or more Walt Disney World Resort theme parks throughout the year.
Even the price of parking will go up across all of Disney’s locations – from $25 to $30. The new charges will come into effect on January 9.
A company spokesperson said in a statement: ‘We are constantly adding new, innovative attractions and entertainment to our parks and, with our wide range of pricing options, the value of a theme park visit is reflected in the unique experiences that only Disney can offer. offer.’
Walt Disney is raising the price of its tickets by nearly 10 percent as it prepares to invest $60 billion in its theme parks
Disney also confirmed that the cost of its cheapest ticket will remain $104, after not changing since 2019.
Last week, the firm announced it was temporarily dropping the price of its children’s tickets to as little as $50 each. The deal is available from 24 October and allows families with children aged three to nine to collect tickets valid from 8 January to 10 March next year.
Such efforts to boost revenue come after the company shared its $60 billion spending plan over the next ten years. The projection is almost double what the firm previously planned to spend.
As part of the investment, Disney World’s Magic Kingdom is set to undergo its ‘biggest expansion ever’.
Traffic at theme parks has taken a hit during the Covid-19 pandemic – and other companies, including Universal and Six Flags, have also reported lower attendance.
Such efforts to boost revenue come after the company shared its $60 billion spending plan over the next ten years. The projection is almost double what the firm previously planned to spend
Traffic at theme parks has taken a hit during the Covid-19 pandemic – and other companies, including Universal and Six Flags, have also reported lower attendance
The Disney parks division has rebounded somewhat — becoming a bright spot for the company in recent quarters.
The media conglomerate has faced ad-related revenue losses and has struggled to monetize its streaming business.
Disney+ announced in August that it was raising the price of its ad-free plan by 27 percent, effective Oct. 12 — after it lost 11 million subscribers worldwide in the second quarter of this year.
It also raised the price of its trio bundle Disney+, ad-free, ad-free Hulu and ESPN+ with ads to $24.99 a month from $19.99 a month.
However, in the third quarter of this year, the parks department saw a 13 percent increase in revenue, reaching $8.3 billion.
The segment is said to have generated $32.3 billion in operating income over the past 12 months.
During an earnings conference call, CEO Bob Iger said the parks are a “great business,” but the company saw a “softer showing” at Walt Disney World in Orlando.