Disney is reportedly having significant financial concerns about its parks, according to a report in The Wall Street Journal.
The report claims that executives high up the corporation’s ladder are concerned that middle-class families are getting priced out of the resort’s parks and hotels. KTLA reported that it costs the average family at least $200 for a one-day trip to Disneyland. That’s not including pricey soft drinks, snacks, souvenirs, and—most importantly—passes to skip lines, which can run up to $450. The Street reported that a weekend jaunt might cost as much as $3,000.
Apparently, Disney execs are starting to realize they’ve stretched price hikes as far as consumers are willing to go. Internal surveys of park guests found the rate of those who said they would return has drastically declined, with the parks’ excessive fees being the primary reason. Growth for 2024’s final quarter was up by one percent, a remarkable drop from last year’s six percent growth in the same quadrant.
Related: Disney World to Close Its Costly Star Wars: Galactic Starcruiser Attraction
Two outside surveys have added a bit of salt to Disney’s wounds. One conducted by Harris Poll determined that about 75 percent of respondents felt that Disney was “financially out of reach” for them and their families. Meanwhile, equity firm Wolfe Research reported that the price for a family of four coming to Disneyland from an out-of-town location rose 56 percent between 2014 and 2024.
Following WSJ’s report, Disney issued a statement that did not directly respond to the article but seemed to hint around its reportage. "The number-one thing we hear from the millions of guests who visit our parks each year is how much a Disney vacation means to them, and we intentionally offer a wide variety of ticket, hotel, and dining options to welcome as many families as possible, whatever their budget," Disney Parks Chairman Josh D’Amaro said.
from Men's Journal https://ift.tt/jv4PMZ5
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