Disney CEO admits parks have been charging customers too much
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If you have ever been to any one of Disney's theme parks across the globe, you'll know it is not cheap to get in.
Take Disney World Florida, for example, a one-day ticket to just a single Disney World theme park costs $109 or higher on most days of the year.
However, this ticket for all guests above the age of ten, can rise as high as $189 during busy season.
A recent top access one-day ticket for Disneyland California reached a staggering $244.
If you are taking the whole family, it is certainly a rather expensive day out, especially with the cost of living crisis gripping much of the globe right now.
Now, Disney CEO Bob Iger has admitted that the company was too 'aggressive' when it came to many of its recent price hikes.
This included a $20,000 two-night stay at a Star Wars-themed hotel, which is set to reduce the number of dates it offers after fans balked at the price.
Speaking at the Morgan Stanley Technology, Media and Telecom Conference on Thursday (9 March), Iger admitted that upping prices at its theme parks was a mistake.
"I always believed that Disney was a brand that needs to be accessible, "Iger said.
"In our zeal to grow profits, we may have been a little bit too aggressive about some of our pricing.
"I think there’s a way to continue to grow that business, but be smarter about how we price so that we maintain that brand value of accessibility."
Disney has already expanded the number of days where adult tickets at its California resort will be sold from the lowest price point of $104.
Iger returned as Disney CEO in November after originally retiring from the executive role in November 2021.
Following all the upheaval, Iger has stated he will 'continue to listen to consumers', before adding: "We’re going to continue to adjust.”
And theme parks have been a particular focus of Iger since he became Disney's top dog once more.
"One of the things that we had to do was we had to improve the guest experience by reducing crowding," he said.
"It’s tempting to let more and more people in, but if the guest satisfaction levels are going down because of crowding then that doesn’t work.
"We have to figure out how we reduce crowding but maintain our profitability."
After years of customer complaints, Disney addressed parking complaints in January for those staying at Disney World hotels.
Disney had previously been charging customers to leave their vehicles overnight, but that has now been changed.