Disney Tips Your Guide To A Great Disney Vacation
Controversial Disney CEO Bob Chapek just interviewed with CNBC, discussing some of the topics brought to the table at yesterday’s third quarter 2022 earnings call. The meeting was broadcast live via audio webcast and tackled issues relating to finances and other relevant Disney matters.
The discussion provided insight into Disney’s mind frame regarding Annual Passes and Magic Keys at Walt Disney World Resort and Disneyland Resort. Also discussed were upcoming changes to the company’s streaming service, Disney+.
Credit: Disney/Hulu
Disney+ made headlines today for overtaking Netflix in their number of streaming subscribers. New pricing and Ad-supported streaming are coming to the platform in bundles that include Hulu and ESPN+.
Bob Chapek has been a hot topic of discussion in the Disney community since he replaced Bob Iger in early 2020. After implementing numerous changes that didn’t benefit Passholders at the Florida and California Resorts, Disney’s most loyal fans have been vocal about disliking the company’s new CEO.
In the interview with CNBC, he discusses business strategies, changes to Disney+, and price increases in his typical, business-savvy fashion. When the interviewer asks Mr. Chapek about price hikes at the Parks, he replies, “We can move on a dime…we operate with a surgical knife here. We’re at a level of sophistication with our pricing.”
Credit: Disney
He states that the Walt Disney Company is “flexible” when it comes to its pricing standards. Revenues for Disney’s third quarter and nine months grew 26% and 28%, confirming the first quarter’s report, which showcased record growth.
In response to questions about attendance at Disney Parks, Mr. Chapek responded, “We’re seeing no softening at all of our demand.” This comment came as a bit of a surprise after a quote from yesterday’s meeting made quite an impression on the Disney community.
The fiscal third quarter 2022 financial report states, “The increase in average per capita ticket revenue was due to the introduction of Genie+ and Lightning Lane in the first quarter of the current fiscal year and a reduced impact from promotions at Walt Disney World Resort, partially offset by an unfavorable attendance mix at Disneyland Resort.”
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Chapek noted, “Our Parks division was extremely strong,” despite inflation and the economy’s current troubles. He confidently assured the interviewer, “People are spending more, and they’re very happy.”
Disney’s most talked about businessman was noticeably sporting a new look in the interview. Some fans jokingly compared Chapek to Obadiah Stane, played by Jeff Bridges in Iron Man (2008).
It seems like Disney fans are still trying to villainize the CEO. Will he ever work his way into the hearts of Disney’s most loyal fanbase?
