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Disney’s CEO was alarmed by rising prices at his theme parks, the Wall Street Journal reported.
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Bob Iger made a surprise comeback as Disney CEO on Sunday, less than a year after leaving the company.
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Daily admission fees to Disney’s theme parks have risen to $189 this year.
If you feel that daily expenses have become way too expensive in recent years, you are not alone.
Disney’s CEO Bob Iger believes that prices in the company’s theme parks have risen too high, the Wall Street Journal reported Wednesday, based on people close to him.
Iger, who reclaimed the position of CEO on Sunday after leaving the company less than a year ago, complained at length to friends about the decisions made by his successor, Bob Chapek, the paper said. He was unnerved by price increases at the Disney parks, including Walt Disney World, Disneyland and others, sources told the Journal.
Iger, who led Disney from 2005 to 2020 and served as chairman until the end of 2021, felt that Chapek was focusing on Disney’s streaming business to the detriment of the company’s other divisions, including theme parks and TV, the people said.
“He’s killing the soul of the company,” Iger reportedly said.
Disney did not respond to a request for comment.
It is unclear exactly what prices Iger was referring to. Ticket prices increased this year, along with the cost of concessions. Disney also said it earns more from hotels. Chapek told investors in May that people are spending 40% more at Disney’s theme parks than before the pandemic.
This month, Walt Disney World announced that daily admission prices will go up from December 8. Currently the most expensive ticket is $159. Soon it will be $189. The cost of annual passes is also going up.
This year, Disney also increased daily and annual ticket prices at Disneyland Resort in California and raised the cost of its line-skipping add-on, Genie Plus.
Read the original article on Business Insider
