Today, Thursday, March 9, Walt Disney Company CEO Bob Iger has been speaking at a question-and-answer session during the Morgan Stanley Technology, Media and Telecom Conference.
During the investors conference, Disney CEO Bob Iger commented on pricing and value at the Disney Theme Parks.
Iger admitted that under the previous leadership of Bob Chapel, Disney had been too aggressive on pricing and needs to retain the brand value of accessibility to its guests.
He referenced the most recent changes he has implemented since coming back to Disney that has seen many unpopular company decisions reversed, including removal of parking fees at Walt Disney World resort hotels, changes made with lower-priced ticket availability at Disneyland, removing Park Pass requirements for passholders after 2pm, adding more features to Genie and more.
Iger also acknowledged that Disney had to reduce crowding to improve guest satisfaction, he commented “It’s tempting to let more and more people in,” but admitted “if the guest satisfaction level is going down because of crowding, that doesn’t work.”
Iger also spoke about future growth in the the parks, “As we continue to invest in those businesses,” Iger said, “which is essentially building out new capacity or new attractions, it gives us the ability to, one, service more people. The more attractions you have, obviously the more people have to do. We can also mine our IP more effectively, those are really important,” he continued, “because those franchises that we do well with in film and in television are truly leverageable at the parks level as we learned with the ‘Star Wars’ investments that we’ve made, the ‘Avatar’ investment we made in Florida, the ‘Toy Story’ investments that we’ve made. And that creates growth for us because it increases capacity and it improves our marketability.”
So it appears that we will continue to see more IP within the parks.
Iger said that while they obviously don’t have endless IP, they do have plenty to still take advantage of, which leads to growth opportunities.
It's interesting to note what Iger never said, with no mention of Reedy Creek and Disney's troubles with Gov Ron DeSantis.
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