Disney Announced Another Theme Park Discount – Will It Be Enough To Lift Ticket Sales and Finally Move The Stock Price Up?
When Disney needs a boost in ticket sales, they turn to their #1 authorized ticket seller, Undercover Tourist, to get more people in their theme parks. This summer, they offered adult tickets at kid prices. And yesterday, they announced another offer. Guests can get up to a $1,000 Disney Dining Card when they book a non-discounted 5-night, 4-day vacation package at Walt Disney World this holiday season. But will it be enough to get people into the theme parks instead of other vacation destinations? And will it help bring a much-needed lift to the Disney stock price, which hit its 9-year low in September?
Score Rare Savings on Disney Theme Park Spring Vacation
If you’ve thought about visiting a Disney theme park between now and the end of the year, or always wanted to visit during the holiday season, now could be the time to take advantage of their latest promo.
Why Is Disney Offering So Many Sales?
While Disney World is the happiest place on Earth, Disney investors and executives aren’t too happy right now. Between a decline in theme park attendance, an actors and writers’ strike, movies that weren’t wildly successful, and a drawn-out battle with Florida Governor Ron DeSantis, Disney’s got many problems right now.
Turns Out Fewer People are Going to Disney Parks
July 4th week saw something rare in Disney Parks – room to spread out. Whether you looked at the data or attended in person, park attendance was way down. How much? It was Disney’s lowest ticket sales for the July 4th weekend in decades. Coming off of their massive 50th Anniversary celebration, Disney executives have noted that park attendance is down in public comments, and will mostly likely continue for the rest of the year.
High priced tickets bring tons of cash to Disney’s balance sheet; the business warts can’t be as covered with less of it.
Has Their Part in The Culture Wars Finally Caught Up To Them?
In May, Disney park executives said their political and cultural battle with Florida Governor Ron DeSantis has yet to affect their business. However, fast forward two months later, and it looks like things may have changed.
Earlier this Year, They Closed Their Most Popular Ride Splash Mountain Due To Racist Ties
Sunday, January 22, 2023, marked the last day of the iconic Disney ride Splash Mountain. A fan-favorite ride for decades will be closed for two years and transformed into Tiana’s Bayou Adventure. This permanent closure comes after many decades of complaints of racist stereotypes and Jim Crow-era songs and imagery. But the backlash against this decision was rather large, too.
And Now, Disney’s Stock is Trailing the Market
Even though the S&P 500 Index has jumped double digits, Disney’s stock reached its 9 year-low and hovering around it most of the summer. Experts saying its extended dip has erased around $16 billion from the company’s market value.
The Price of Tickets, Even On Sale, Is Staggering for the Average American Family
When Magic Kingdom opened in 1971, a single-day admission ticket was $3.50. Someone earning federal minimum wage in 1971 ($1.60 an hour) only needed to work 2.19 hours to pay for admission. Fast forward to today, and prices have skyrocketed. A one-day ticket to a single Disney World park varies from $109 to $159 per day, depending on the day.
Disney Has Become Out of Reach
To put that into perspective, a minimum wage worker visiting a single Disney World park on the cheapest of days would have to work 15.03 hours to afford admission, an increase of 586% since the park first opened. If the same person wanted to visit the park on a high-demand day, they would have to work 21.90 hours, a massive jump of 900% since 1971.
Is this really the dream that Walt Disney envisioned?
They Were Using High Ticket Prices as A Way To Cut Down on Crowds – But It Backfired
“One of the things that we had to do is we had to improve the guest experience by reducing crowding. And it’s tempting to let more and more people in. But if the guest satisfaction levels are going down because of crowding, that doesn’t work,” CEO Bog Igar told the attendees at a recent Morgan Stanley conference.
They moved to dynamic pricing to try to move guests to the lesser crowded time periods, but families are still limited to the popular time frames when kids are off from school.
It’s a Hard Balance – Did They Get It Right?
“We had to figure out how we reduce crowding but maintain, obviously, our profitability. And we did that well, but we have to be careful about that as well because, in doing that, you’re actually — you actually end up increasing the price or putting features into your pricing that are viewed by some consumers as perhaps being a little too aggressive, and that’s where we’re being careful about,” he continued.
CEO Bog Iger Thinks Their Theme Park Ticket Prices are Too High, So It is Not a Surprise They are Now On Sale
“I always believed that Disney was a brand that needs to be accessible,” said Bog Iger, CEO of Disney, at the media conference. “And I think that in our zeal to grow profits, we may have been a little bit too aggressive about some of our pricing.”
If you thinking of heading to Disney in the spring with kids, select ticket and dining packages will be 50% starting November 14th.
Did Disney’s Greed Turn Them Into Ebenezer Scrooge?
According to Time2Play, 92.6% of surveyed Disney World enthusiasts said they believe the cost of a Disney vacation is now out of reach for average families. What used to be regular vacation for middle-class families has evolved into a luxury trip with pricey add-ons everywhere you look.
It’s no longer magical or fun, but chaotic and complicated.
Families Aren’t Returning To Disney
“Our Spring Break Disney World tickets were $1,646 for two days of park hopper passes and ride reservations for two adults and two kids,” says Daniel, a dad from New Jersey. “Our per-person cost was almost double the average ticket price at $205.75. Given the exorbitant cost, huge crowds, and super-long lines, I don’t see our family returning to Disney anytime soon.”
Families Can’t Justify the High Price of a Disney Vacation
“I have been fortunate enough to experience the enchantment of Disney Parks on multiple occasions. I know it is a fantastical realm replete with parades, theme parks, magic performances, and an abundance of cartoon characters. There is so much waiting to be discovered there. I realized that it take at least seven days to see everything there,” said Umar Ali, Founder, HopDes.
“I’ve come to the realization that embarking on Disney trips is no longer within the realm of financial feasibility for my family. There is more to planning a vacation than just theme park entrance fees and hotel rooms and the additional expenses have made it increasingly difficult for us to make these trips a reality,” he added.
It Is So Complicated You Need a Disney Doctorate to Navigate It
In 2021, Disney World ditched its Fast Pass system after more than 20 years for the new Genie service and its paid companion Genie+. Most park loyalists have poorly received this change. 66.9% report feeling they won’t get the whole Disney World experience if they don’t upgrade to Genie+ and purchase additional Lightning Lane entries to certain Disney park rides.
So Instead of Epcot Countries, Families are Vacationing To Other Countries
68.3% said rampant price increases and nickel and diming have made it feel like Disney World has lost its magic. So parents across the country are making other vacation plans. From wanting to show their kids the world now that borders have re-opened, to showing them the wonder of mother nature, families are saying bye bye to Mickey and Minnie and hello to other vacation destinations.
The 3 Best Days to Visit Walt Disney World Revealed
Seventy-four million people go to Orlando annually, making it America’s most visited destination. And more than half of those people who travel to Florida’s theme park capital visit Walt Disney World. So, if you’re planning a trip to Disney, it’s essential to think about when you can avoid the crowds and the summer heat. Well, new research reveals the three best days to visit based on a crowds-to-weather score.
The 3 Best Days to Visit Walt Disney World Revealed
Want to Do a Disney World Christmas? Here’s 9 Expert Tips for a Magical Trip
One of the best times of the year to visit Walt Disney World is during the holiday season. The theme parks and resorts go all out for Disney World Christmas and that’s one it is one of the most popular times of year to go!
Disney World Christmas runs from early November through the first week of January. Some fan-favorite holiday events include a special ticketed event at Magic Kingdom and a holiday festival at EPCOT. Here are our top tips for enjoying the holiday season at the Most Magical Place on Earth.
Want to Do a Disney World Christmas? Here’s 9 Expert Tips for a Magical Trip
Disney’s No Longer Orlando’s Best Theme Park – Travelers Voted Discovery Cove Into the Top Spot (And Their Black Friday Deal is 50% Off)
What if I told you about a place in Orlando near it all, but feels like you’ve been whisked to a tropical island? A day destination that’s nestled in between resorts and iconic theme parks but feels worlds away from the crowds and long lines of America’s vacation capital.
It’s not a Florida heat-induced mirage; it’s Discovery Cove Orlando. This unique, all-inclusive, all-day outing offers guests a one-of-a-kind day. Well, starting November 9, you can go to the theme park voted Orlando’s best for as much as 50% off.
30 Reasons Families Prefer Legoland Florida to Disney World Theme Parks
Our family spent the last two Spring Breaks in Orlando, the most visited destination in America, but we had two very different experiences. In 2022, we had a typical Orlando family vacation visiting Disney theme parks. Then, in 2023, we went to non-Disney theme parks, including Legoland Florida, and it was a night-and-day experience. After these two trips, our family prefers Legoland Florida to Disney World.
And it turns out we’re not the only ones. After interviewing 25 other families who feel the same, here’s why people are opting for days with Emmet, Lloyd, and Master Wu instead of Elsa, Luke, and Mickey Mouse.
30 Reasons Families Prefer Legoland Florida to Disney World Theme Parks
Most Disney Die-Hards Say It’s Too Expensive; Families Going To Great Wolf Lodge Instead
Many are leaving The supposedly Happiest Place on Earth for a more carefree, joy-filled, and affordable family vacation. According to Newsweek, families across America are replacing a trip to Disney with a trip to a Great Wolf Lodge instead.
Most Disney Die-Hards Say It’s Too Expensive; Families Going To Great Wolf Lodge Instead
This article was produced by Planner at Heart.
