Disney CEO Admits Theme Park Price Hikes Have Been ‘Too Aggressive,’ Recommits to ‘Accessibility’ for All
A trip to Disney is an unattainable luxury for many Americans today.
A typical family vacation to Walt Disney World for a family of four in 2023 will cost about $5,240, per Florida-based travel agency Magic Guides.
Related: Disney World Tickets Are About To Be More Expensive – Prices Will Now Be Park-Specific
Now, Walt Disney Company CEO Bob Iger is acknowledging the inaccessibility of the company’s theme park costs, calling recent price hikes “too aggressive” at the Morgan Stanley Technology, Media and Telecom Conference on Thursday, The Los Angeles Times reported.
“In our zeal to grow profitswe may have been a little bit too aggressive about some of our pricing,” Iger said. “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.”
Iger, who’s been with the company for four decades (with 15 years as its CEO), resumed his leadership role last November after his successor Bob Chapek stepped down. Iger’s on track to retire again in two years, per Fox Business; the search for Disney’s next CEO is underway.
Related: Disney CEO Bob Iger Wants Employees in Office 4 Days a Week
Walt Disney Co is down nearly 28% year over year.