The Walt Disney Corporate held its 2025 Annual Assembly of Shareholders on Thursday, and CEO Bob Iger highlighted a 12 months of successes on the field workplace, by way of the streaming products and services, and on the theme parks–whilst additionally taking a look ahead on the billions of bucks of deliberate investments within the coming years.
All through the Q&A portion of the assembly, Iger fielded an investor’s query expressing worry in regards to the affect of fee will increase on affordability and attendance, and the wish to additional building up capability to stop shedding fanatics in the longer term. This line of wondering used to be anticipated, as Walt Disney Global is Anxious About Its Prime Costs has been an ongoing matter since bombshell reporting via the Wall Boulevard Magazine final month.
That record printed considerations about Disney pricing out the center category, no longer simply amongst fanatics, however that alarms also are being sounded inside of the corporate, as executives worry fee will increase are alienating fanatics and souring sentiment. Consistent with WSJ, “some inside of Disney fear that the corporate has develop into addicted to value hikes and has reached the bounds of what middle-class American citizens can manage to pay for.”
Responding to a query that Disney’s home theme parks have no longer been ready to stay alongside of emerging attendance, want extra capability, and that this has created affordability problems, Iger stated that that is one thing he thinks about at all times. “Actually, I used to be simply at Walt Disney Global on a weekday in March, and where used to be in reality busy, in reality throughout the entire belongings,” Iger stated. We discussed encountering heavy crowds in Pandora – Global of Avatar, Superstar Wars: Galaxy’s Edge, Guardians of the Galaxy: Cosmic Rewind, TRON Lightcycle Run, Toy Tale Land, or even at Disney Springs.
Iger indicated that “client call for for our parks and inns stays extraordinarily top, as is the worth we provide, which is super while you evaluate it with different types of leisure reminiscent of wearing occasions and live shows.” He identified that the additions made to Disney Parks international, like the ones he referenced, supply extra capability and extra price to visitors.
Iger additional stressed out that those enlargement efforts are ongoing. “Actually, now we have extra being designed, advanced, and constructed nowadays than at every other level within the 70 years since we’ve been within the theme park trade.” On the identical time, he stated the corporate additionally appreciates that the parks create lifelong recollections for households.
With that during thoughts, Disney is continuously making an allowance for, creating, and enforcing new techniques to make the theme parks extra stress-free, however similarly essential, extra out there to visitors on tighter budgets.
“We offer a number of choices for households taking a look to spend much less, together with our lowest price tag to Disneyland, which we’ve stored on the identical stage since prior to the COVID pandemic,” Iger added. He added that since his go back as CEO two years in the past, Disney tripled the selection of days that this lowest priced price ticket is to be had.
“So with sturdy visitor delight ratings and intent to talk over with metrics final very top, our parks stay the preferred providing within the business and a cast enlargement trade for the corporate, as we proceed to introduce new stories that I simply referenced,” Iger concluded.
Our Observation
Maximum of what Bob Iger needed to say is wholly unsurprising, and completely “on script” with Disney’s Reaction to Emerging Prices Grievance. As you could recall, the Walt Disney Corporate put out a press free up on its company web site the day after the WSJ record that introduced an oblique reaction explaining how the Disney’s theme parks be offering nice price for cash, reasonably priced choices for households, and maximum visitors consider that Disney park visits create recollections that final an entire life and will’t get replaced or replicated.
As with the query about Figment, the corporate most likely expected this query or one find it irresistible, and Iger used to be prepped on learn how to reply. That press free up most likely served because the blueprint for his reaction given the super quantity of overlap. In different phrases, no longer a lot new “new” to record right here.
Nonetheless, there are a pair issues I believed have been in short price addressing.
The primary is Iger’s remark that he used to be simply at Walt Disney Global final week and, even on a weekday in March, it used to be in reality busy.
Overdue final week would’ve been the beginning of spring destroy season for Central Florida (and past) faculty districts. Even previous to that, it used to be early spring destroy for various different faculties, together with many schools. Positive, it’s no longer the guts of spring destroy season, however it’s additionally no longer as though the ones dates have been random weekdays all the way through the low season when all faculties are in-session.
Additionally, the primary few months of the 12 months had been outperforming even within the post-pent-up call for length, which is possibly partly because of vacationers with flexibility transferring visits to those extra at ease instances of 12 months. I’d be curious to listen to Iger’s unfiltered ideas if he have been to talk over with Animal Kingdom on Would possibly 22 or August 19. One thing tells me he wouldn’t really feel moderately as assured, even though he wouldn’t say as a lot publicly.
2d, this used to be a multifaceted query (an extraordinary in reality excellent one from the Q&A!) in regards to the intersection of capability and affordability.
In reaction, Iger pointed to a number of finished initiatives. I will be able to luckily concede that each and every unmarried this kind of used to be a significant addition that expanded capability. Even those that changed current spaces, as nobody can argue with a immediately face that the usage of Camp Minnie-Mickey used to be the similar as Pandora. Ditto Universe of Power and Cosmic Rewind–and I say that as keen on the previous!
I’m no longer certain if the similar may also be stated for all the upcoming initiatives. All will indisputably reinforce usage, however except the Magic Kingdom initiatives, no longer almost to the similar extent because the final spherical of enlargement. Animal Kingdom desperately wishes Tropical Americas and it’s an excellent get started, however that’s all it’s–a get started. The addition of Monstropolis at DHS is, on stability, a internet of 1 new trip.
The larger factor this is the functional throttling of capability. Glance no additional than Disneyland, the place crowds are these days loopy (extra on that during somewhat), however has more than one theaters sitting empty, a scarcity of middle of the night leisure, no daylight parade, and so on. There are examples like this with virtually all the parks (the number 1 factor at Walt Disney Global could be shorter hours at Magic Kingdom), and there are plentiful alternatives for the in a single day advent of crowd-absorbing capability. In different phrases, the crowds and pricing are a call that they’ve elected to make, no longer one thing unavoidable.
Turning to pricing, Iger as soon as once more issues to the lowest-price 1-day tickets at Disneyland, which haven’t long past up in fee for a number of years. It’s been since a minimum of 2018, pre-COVID and pre-Superstar Wars: Galaxy’s Edge. Disneyland has shifted issues round and moved the $104 tickets to a brand new “Tier 0” a couple of years in the past, however the beginning fee has no longer long past up.
It’s additionally true that, a few months after Iger returned, one of the crucial main strikes made via Disneyland used to be to enlarge the calendar to provide almost two months’ price of $104 park price ticket dates. At the present, there are simplest 20 such dates at the calendar for this 12 months via September 2025, however it’s most likely extra might be added in November and December. Nonetheless, nowhere close to two months’ price in overall.
The corporate likes to tout this. It at all times comes up as a speaking level about their dedication to affordability, and makes its approach into statements from the corporate to media shops in another way unfavorable items (just like the WSJ one) as a counterpoint. To their credit score, it’s an efficient argument.
In truth, I used to be in reality stunned when 2025 Walt Disney Global tickets have been launched and the beginning fee for unmarried day tickets larger for the primary time since October 2018. From then till final September, unmarried day costs began at $109, which have been the bottom fee because the advent of the date-based gadget again in October 2018. Beginning this autumn, the ones have now long past as much as $119.
As with the Disneyland’s $104 beginning fee, this made for an excellent speaking level. However in the event you paid consideration, it additionally made for an a laugh one. What Walt Disney Global at all times declined to say used to be that the $109 minimal used to be just for a scattering of dates all the way through the low season at Animal Kingdom, when the already scorching park is surface-of-sun ranges of sizzling. By no means discussed used to be that 1-day price ticket costs have endured to skyrocket at Magic Kingdom, the park for which maximum visitors are in truth buying single-day tickets.
I nonetheless surprise what resulted in that fluctuate at Animal Kingdom. It’s no longer like DAK is promoting 1-day tickets all the way through the low season like hotcakes. It’s additionally no longer like 2025 goes to be a robust 12 months for Animal Kingdom, what with the development partitions and closed rides and all. Used to be it in reality price it to surrender the speaking level and belief of less expensive tickets? Or used to be this fee building up achieved with out consulting the company communications other folks, who may’ve stopped the speculation, in need of to handle the narrative of “no base price ticket fee will increase for 7+ years operating”? I will be able to’t believe a lot cash used to be being left at the desk with $109 vs. $119 tickets to Animal Kingdom.
Then again, cash is completely being left at the desk with the $104 tickets at Disneyland.
That is with a bit of luck going to return as no marvel, however Disneyland is a miles more potent park than Animal Kingdom. I don’t suppose even probably the most zealous “Nahtazu” proponents can argue that, objectively talking, Disneyland holds extra enchantment. I imply, c’mon, it has like quintuple the selection of rides.
It’s simply attention-grabbing to peer this tactic maintained at Disneyland, the place it in reality doesn’t want to be, and deserted at Animal Kingdom, the place it most definitely must’ve been stored. And if you want “evidence” that Disneyland is leaving cash at the desk, simply take a look at crowds in August and September on days when the ones $104 tickets make their go back. There was a rising development for Disneyland to peer important spikes when tickets are less expensive, and a drop after they’re costlier. This used to be evidenced final August and September (less expensive months) as opposed to October (the costliest month, on reasonable).
It’s additionally obvious presently. As we identified in the most recent replace to our 2025 Disneyland Crowd Calendar, the final 6 consecutive days had been 9/10 or 10/10 crowd ranges, as have 10 out of the final 13 days.
That is busier than we expected, and on some dates, considerably so. You could say that is unsurprising for the reason that it’s the beginning of spring destroy season, and–certain–crowds have been anticipated to be increased because of this. However no longer 9/10 or 10/10 crowd ranges.
Spring destroy is simplest a part of the equation–and arguably the smaller element. Extra related is the continuing and competitive Southern California Resident Price ticket Deal in addition to the top of the Youngsters’ Price ticket Deal. Because of this, the final week has been busier than the height week between Christmas and New Yr’s Eve!
Bringing issues complete circle, this illustrates a few issues. The primary is that Bob Iger’s feedback about crowds would’ve been extra apt if carried out to Disneyland (however as illustrated above, even this is “solvable” with extra leisure). With few exceptions, it’s busy more often than not within the California parks–a ways worse than Walt Disney Global.
The second one is that the largest driving force of attendance for Disneyland is decrease costs. Whether or not or not it’s price ticket offers or Tier 0/1/2 costs, crowds regularly exceed expectancies when pricing is decrease and fall brief when height pricing is in position and extra Annual Passes are blocked out.
You could even recommend that–in spite of the nearly-perpetual heavy crowds–Disneyland in truth has somewhat of a pricing drawback as it’s so reliant on offers to succeed in its attendance. When there aren’t reductions or decrease costs, crowds underperform. With that stated, “somewhat of an issue” is lovely a ways from a five-alarm hearth. Disneyland is doing simply high quality, and might be for the foreseeable long term due to the seventieth.
Any individual who has set foot in Disneyland over the past year-plus may let you know that the corporate has not anything to be apprehensive about there, and contentions that it’s at the precipice of a significant slowdown are wishful considering at easiest. Then again, Walt Disney Global may well be a distinct tale due to the exhaustion of pent-up call for, slowdown in tourism and global commute, and Epic Universe providing larger festival simply down the street.
Making plans a Walt Disney Global shuttle? Find out about lodges on our Walt Disney Global Lodges Critiques web page. For the place to devour, learn our Walt Disney Global Eating place Critiques. To economize on tickets or decide which kind to shop for, learn our Pointers for Saving Cash on Walt Disney Global Tickets submit. Our What to Pack for Disney Journeys submit takes a novel take a look at suave pieces to take. For what to do and when to do it, our Walt Disney Global Experience Guides will lend a hand. For complete recommendation, the most productive position to start out is our Walt Disney Global Commute Making plans Information for the whole thing you want to grasp!
YOUR THOUGHTS
What do you bring to mind Disney CEO Bob Iger’s reaction to the troubles of fee will increase and a loss of capability will increase growing long-term affordability problems and go back visits? What do you want to peer achieved to reinforce the dynamic at Walt Disney Global or Disneyland? Assume that runaway fee will increase are the massive worry, or is the worth proposition an similarly or extra important subject? Do you compromise or disagree with our review? Any questions we will permit you to solution? Listening to your comments–even while you disagree with us–is each attention-grabbing to us and useful to different readers, so please percentage your ideas beneath within the feedback!
The Walt Disney Corporate held its 2025 Annual Assembly of Shareholders on Thursday, and CEO Bob Iger highlighted a 12 months of successes on the field workplace, by way of the streaming products and services, and on the theme parks–whilst additionally taking a look ahead on the billions of bucks of deliberate investments within the coming years.
All through the Q&A portion of the assembly, Iger fielded an investor’s query expressing worry in regards to the affect of fee will increase on affordability and attendance, and the wish to additional building up capability to stop shedding fanatics in the longer term. This line of wondering used to be anticipated, as Walt Disney Global is Anxious About Its Prime Costs has been an ongoing matter since bombshell reporting via the Wall Boulevard Magazine final month.
That record printed considerations about Disney pricing out the center category, no longer simply amongst fanatics, however that alarms also are being sounded inside of the corporate, as executives worry fee will increase are alienating fanatics and souring sentiment. Consistent with WSJ, “some inside of Disney fear that the corporate has develop into addicted to value hikes and has reached the bounds of what middle-class American citizens can manage to pay for.”
Responding to a query that Disney’s home theme parks have no longer been ready to stay alongside of emerging attendance, want extra capability, and that this has created affordability problems, Iger stated that that is one thing he thinks about at all times. “Actually, I used to be simply at Walt Disney Global on a weekday in March, and where used to be in reality busy, in reality throughout the entire belongings,” Iger stated. We discussed encountering heavy crowds in Pandora – Global of Avatar, Superstar Wars: Galaxy’s Edge, Guardians of the Galaxy: Cosmic Rewind, TRON Lightcycle Run, Toy Tale Land, or even at Disney Springs.
Iger indicated that “client call for for our parks and inns stays extraordinarily top, as is the worth we provide, which is super while you evaluate it with different types of leisure reminiscent of wearing occasions and live shows.” He identified that the additions made to Disney Parks international, like the ones he referenced, supply extra capability and extra price to visitors.
Iger additional stressed out that those enlargement efforts are ongoing. “Actually, now we have extra being designed, advanced, and constructed nowadays than at every other level within the 70 years since we’ve been within the theme park trade.” On the identical time, he stated the corporate additionally appreciates that the parks create lifelong recollections for households.
With that during thoughts, Disney is continuously making an allowance for, creating, and enforcing new techniques to make the theme parks extra stress-free, however similarly essential, extra out there to visitors on tighter budgets.
“We offer a number of choices for households taking a look to spend much less, together with our lowest price tag to Disneyland, which we’ve stored on the identical stage since prior to the COVID pandemic,” Iger added. He added that since his go back as CEO two years in the past, Disney tripled the selection of days that this lowest priced price ticket is to be had.
“So with sturdy visitor delight ratings and intent to talk over with metrics final very top, our parks stay the preferred providing within the business and a cast enlargement trade for the corporate, as we proceed to introduce new stories that I simply referenced,” Iger concluded.
Our Observation
Maximum of what Bob Iger needed to say is wholly unsurprising, and completely “on script” with Disney’s Reaction to Emerging Prices Grievance. As you could recall, the Walt Disney Corporate put out a press free up on its company web site the day after the WSJ record that introduced an oblique reaction explaining how the Disney’s theme parks be offering nice price for cash, reasonably priced choices for households, and maximum visitors consider that Disney park visits create recollections that final an entire life and will’t get replaced or replicated.
As with the query about Figment, the corporate most likely expected this query or one find it irresistible, and Iger used to be prepped on learn how to reply. That press free up most likely served because the blueprint for his reaction given the super quantity of overlap. In different phrases, no longer a lot new “new” to record right here.
Nonetheless, there are a pair issues I believed have been in short price addressing.
The primary is Iger’s remark that he used to be simply at Walt Disney Global final week and, even on a weekday in March, it used to be in reality busy.
Overdue final week would’ve been the beginning of spring destroy season for Central Florida (and past) faculty districts. Even previous to that, it used to be early spring destroy for various different faculties, together with many schools. Positive, it’s no longer the guts of spring destroy season, however it’s additionally no longer as though the ones dates have been random weekdays all the way through the low season when all faculties are in-session.
Additionally, the primary few months of the 12 months had been outperforming even within the post-pent-up call for length, which is possibly partly because of vacationers with flexibility transferring visits to those extra at ease instances of 12 months. I’d be curious to listen to Iger’s unfiltered ideas if he have been to talk over with Animal Kingdom on Would possibly 22 or August 19. One thing tells me he wouldn’t really feel moderately as assured, even though he wouldn’t say as a lot publicly.
2d, this used to be a multifaceted query (an extraordinary in reality excellent one from the Q&A!) in regards to the intersection of capability and affordability.
In reaction, Iger pointed to a number of finished initiatives. I will be able to luckily concede that each and every unmarried this kind of used to be a significant addition that expanded capability. Even those that changed current spaces, as nobody can argue with a immediately face that the usage of Camp Minnie-Mickey used to be the similar as Pandora. Ditto Universe of Power and Cosmic Rewind–and I say that as keen on the previous!
I’m no longer certain if the similar may also be stated for all the upcoming initiatives. All will indisputably reinforce usage, however except the Magic Kingdom initiatives, no longer almost to the similar extent because the final spherical of enlargement. Animal Kingdom desperately wishes Tropical Americas and it’s an excellent get started, however that’s all it’s–a get started. The addition of Monstropolis at DHS is, on stability, a internet of 1 new trip.
The larger factor this is the functional throttling of capability. Glance no additional than Disneyland, the place crowds are these days loopy (extra on that during somewhat), however has more than one theaters sitting empty, a scarcity of middle of the night leisure, no daylight parade, and so on. There are examples like this with virtually all the parks (the number 1 factor at Walt Disney Global could be shorter hours at Magic Kingdom), and there are plentiful alternatives for the in a single day advent of crowd-absorbing capability. In different phrases, the crowds and pricing are a call that they’ve elected to make, no longer one thing unavoidable.
Turning to pricing, Iger as soon as once more issues to the lowest-price 1-day tickets at Disneyland, which haven’t long past up in fee for a number of years. It’s been since a minimum of 2018, pre-COVID and pre-Superstar Wars: Galaxy’s Edge. Disneyland has shifted issues round and moved the $104 tickets to a brand new “Tier 0” a couple of years in the past, however the beginning fee has no longer long past up.
It’s additionally true that, a few months after Iger returned, one of the crucial main strikes made via Disneyland used to be to enlarge the calendar to provide almost two months’ price of $104 park price ticket dates. At the present, there are simplest 20 such dates at the calendar for this 12 months via September 2025, however it’s most likely extra might be added in November and December. Nonetheless, nowhere close to two months’ price in overall.
The corporate likes to tout this. It at all times comes up as a speaking level about their dedication to affordability, and makes its approach into statements from the corporate to media shops in another way unfavorable items (just like the WSJ one) as a counterpoint. To their credit score, it’s an efficient argument.
In truth, I used to be in reality stunned when 2025 Walt Disney Global tickets have been launched and the beginning fee for unmarried day tickets larger for the primary time since October 2018. From then till final September, unmarried day costs began at $109, which have been the bottom fee because the advent of the date-based gadget again in October 2018. Beginning this autumn, the ones have now long past as much as $119.
As with the Disneyland’s $104 beginning fee, this made for an excellent speaking level. However in the event you paid consideration, it additionally made for an a laugh one. What Walt Disney Global at all times declined to say used to be that the $109 minimal used to be just for a scattering of dates all the way through the low season at Animal Kingdom, when the already scorching park is surface-of-sun ranges of sizzling. By no means discussed used to be that 1-day price ticket costs have endured to skyrocket at Magic Kingdom, the park for which maximum visitors are in truth buying single-day tickets.
I nonetheless surprise what resulted in that fluctuate at Animal Kingdom. It’s no longer like DAK is promoting 1-day tickets all the way through the low season like hotcakes. It’s additionally no longer like 2025 goes to be a robust 12 months for Animal Kingdom, what with the development partitions and closed rides and all. Used to be it in reality price it to surrender the speaking level and belief of less expensive tickets? Or used to be this fee building up achieved with out consulting the company communications other folks, who may’ve stopped the speculation, in need of to handle the narrative of “no base price ticket fee will increase for 7+ years operating”? I will be able to’t believe a lot cash used to be being left at the desk with $109 vs. $119 tickets to Animal Kingdom.
Then again, cash is completely being left at the desk with the $104 tickets at Disneyland.
That is with a bit of luck going to return as no marvel, however Disneyland is a miles more potent park than Animal Kingdom. I don’t suppose even probably the most zealous “Nahtazu” proponents can argue that, objectively talking, Disneyland holds extra enchantment. I imply, c’mon, it has like quintuple the selection of rides.
It’s simply attention-grabbing to peer this tactic maintained at Disneyland, the place it in reality doesn’t want to be, and deserted at Animal Kingdom, the place it most definitely must’ve been stored. And if you want “evidence” that Disneyland is leaving cash at the desk, simply take a look at crowds in August and September on days when the ones $104 tickets make their go back. There was a rising development for Disneyland to peer important spikes when tickets are less expensive, and a drop after they’re costlier. This used to be evidenced final August and September (less expensive months) as opposed to October (the costliest month, on reasonable).
It’s additionally obvious presently. As we identified in the most recent replace to our 2025 Disneyland Crowd Calendar, the final 6 consecutive days had been 9/10 or 10/10 crowd ranges, as have 10 out of the final 13 days.
That is busier than we expected, and on some dates, considerably so. You could say that is unsurprising for the reason that it’s the beginning of spring destroy season, and–certain–crowds have been anticipated to be increased because of this. However no longer 9/10 or 10/10 crowd ranges.
Spring destroy is simplest a part of the equation–and arguably the smaller element. Extra related is the continuing and competitive Southern California Resident Price ticket Deal in addition to the top of the Youngsters’ Price ticket Deal. Because of this, the final week has been busier than the height week between Christmas and New Yr’s Eve!
Bringing issues complete circle, this illustrates a few issues. The primary is that Bob Iger’s feedback about crowds would’ve been extra apt if carried out to Disneyland (however as illustrated above, even this is “solvable” with extra leisure). With few exceptions, it’s busy more often than not within the California parks–a ways worse than Walt Disney Global.
The second one is that the largest driving force of attendance for Disneyland is decrease costs. Whether or not or not it’s price ticket offers or Tier 0/1/2 costs, crowds regularly exceed expectancies when pricing is decrease and fall brief when height pricing is in position and extra Annual Passes are blocked out.
You could even recommend that–in spite of the nearly-perpetual heavy crowds–Disneyland in truth has somewhat of a pricing drawback as it’s so reliant on offers to succeed in its attendance. When there aren’t reductions or decrease costs, crowds underperform. With that stated, “somewhat of an issue” is lovely a ways from a five-alarm hearth. Disneyland is doing simply high quality, and might be for the foreseeable long term due to the seventieth.
Any individual who has set foot in Disneyland over the past year-plus may let you know that the corporate has not anything to be apprehensive about there, and contentions that it’s at the precipice of a significant slowdown are wishful considering at easiest. Then again, Walt Disney Global may well be a distinct tale due to the exhaustion of pent-up call for, slowdown in tourism and global commute, and Epic Universe providing larger festival simply down the street.
Making plans a Walt Disney Global shuttle? Find out about lodges on our Walt Disney Global Lodges Critiques web page. For the place to devour, learn our Walt Disney Global Eating place Critiques. To economize on tickets or decide which kind to shop for, learn our Pointers for Saving Cash on Walt Disney Global Tickets submit. Our What to Pack for Disney Journeys submit takes a novel take a look at suave pieces to take. For what to do and when to do it, our Walt Disney Global Experience Guides will lend a hand. For complete recommendation, the most productive position to start out is our Walt Disney Global Commute Making plans Information for the whole thing you want to grasp!
YOUR THOUGHTS
What do you bring to mind Disney CEO Bob Iger’s reaction to the troubles of fee will increase and a loss of capability will increase growing long-term affordability problems and go back visits? What do you want to peer achieved to reinforce the dynamic at Walt Disney Global or Disneyland? Assume that runaway fee will increase are the massive worry, or is the worth proposition an similarly or extra important subject? Do you compromise or disagree with our review? Any questions we will permit you to solution? Listening to your comments–even while you disagree with us–is each attention-grabbing to us and useful to different readers, so please percentage your ideas beneath within the feedback!
