Disney CEO Chapek Says Theme Park Prices May Raise to Meet Consumer Demand

In an interview with CNBC, The Walt Disney Company CEO Bob Chapek said that more price hikes will likely hit Disney theme parks soon to meet consumer demand.

Here is Chapek’s full quote:

Well, we always watch our demand. When you’re playing a yield game like we are right now and you have the flexibility with our reservation system, we can move on a dime. We read demand. If demand goes up, we have the opportunity to do that. We have no plans to announce right now in terms of what we’re going to do, but again, we operate with a surgical knife here. We’re at a level of sophistication with our pricing that not only does it maximize shareholder value, but it enables us to provide a value to guests no matter what time of year they want to come. It’s all up to the consumer. If consumer demand keeps up, we’ll act accordingly. If we see a softening, which we don’t think we’re going to see, then we can act accordingly as well.

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Disney Park’s revenue has been rising, as we saw again during yesterday’s earnings call. Outside of the parks, Disney+ got 14.4 million more subscribers during Q3 2022 and will be raising prices with the launch of their ad-supported tier in December. Disney also stated that they expect to increase capital expenditures to $6 billion.

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