There is a new hope for Disney’s theme park fans that the endless rounds of price increases may be coming to an end with the return of Bob Iger as CEO.
In a report by the Wall Street Journal, Iger is apparently “alarmed by increases in prices at Disney theme parks that Mr. Chapek argued would boost revenue and limit overcrowding.”
During his time as Disney CEO, Chapek made no attempt to hide his efforts to maximize profits at the parks, even if it meant alienating the loyal Disney fan-base in the process.
Any price reductions at the parks are probably unlikely, but the change of CEO may at least see a slow down of price increases if the alleged comments made by Iger regarding pricing are accurate.
Other points from the WSJ article relating to Iger’s concerns with Chapek’s management of Disney include:
- Chapek had given priority to the Disney+ business at the expense of other parts of Disney, like cable television and the theme parks
- Chapek was too responsive to changes in Disney’s share price
- Chapek was too eager to layoff vast numbers of Disney Cast Members as COVID took hold.
And most telling of all, the article suggests that Iger had been telling multiple people that “He’s killing the soul of the company.”
You can read the full WSJ article here.