Disney’s earnings call for Q1 of 2022 (that technically runs October 2021-Jan. 2022) happened today. One of the big take a ways from the event is that Disney Parks has a significant quarter, that was one of their biggest ever, hitting 7.2 billion.
A lot of this has been attributed to the implementation of the Genie+ program, that Bob Chapek claims, 50% of guests use. Since there is a free version in addition to the paid upgrades, that is likely. That does not mean everyone pays the per ride pricing. It’s also attributed to price hikes on food and merchandise as well as tickets and the throttling of things like Annual Pass sales and Park Pass Reservation allotments.
Overall per capita was up 40% compared to pre-pandemic levels.
Obviously. When you charge more and make people pay for a ride ticket AND line tickets you will make more money. I can’t wait till we have to pay to use the bathroom or pay to lightning lane it.
So the parks are packed and people are spending way more money. This is why Disney and Bob Chapek are not going to change.
A cheaper experience at a bigger price point is not turning people away and Disney is more than happy to take the money and offer you less. As much as guests complain, they’re there and they’re paying it. So why do they need to change?
So I fully expect people to get even less and pay even more moving forward. I expect the crowds to be bad and lines to be long because that means people will be more willing to pay the upcharges for shorter wait times. Disney wants it this way.
With the numbers being as they are I also find it very unlikely that the board will remove Bob Chapek, even though guests boo him at things like the Walt Disney World’s 50th Anniversary kick off. He was in charge during this massive upswing, even if some of the monetarily successful changes were in the pipeline before he was CEO. This is also why the powers that be got renewed contracts and more money. It’s very likely that Chapek will get the same.
I can’t wait to see how they gouge guests next.
When you do this well it will be expected to be maintained or surpassed.
We already have extra park time for the wealthier guests who stay at the priciest resorts, upcharges to ride, smaller food with price increases. They have to improve upon this moving forward. I know they were offering discounts and fantastic deals to people overseas like the UK. Deals they don’t give state side.
As soon as it opens up internationally I fully expect it to get much, much worse.
It’s the best of times for Disney and maybe heading into the worst of times as someone who wants to visit.
What do you think? Comment and let us know.
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