Disney fans received a surprising amount of news in The Walt Disney Company’s quarterly earnings call on Wednesday. Typically a strictly financial affair, the meeting was the first since Disney CEO Bob Iger returned to replace Bob Chapek.
A few changes are coming to the Disney Parks! An Avatar (2009) experience will premiere at Disneyland Resort following the success of Avatar: The Way of Water (2022). (Iger said Disney Park fans could expect more details soon.)
Despite a 35% increase in Disney Parks revenue over last year, The Walt Disney Company will, unfortunately, cut 7,000 jobs, many likely at its Theme Parks. This comes as part of a complete restructuring and an attempt to save millions of dollars as the Disney+ subscriber count plummets for the first time since its release.
Iger also briefly touched on a controversial subject among Disney Parks fans – the Park Pass Reservation system at Disneyland Resort and Walt Disney World Resort. Since the Disney Parks reopened following the COVID-19 shutdown, Guests, Annual Passholders, and Magic Key Pass holders have been required to book a Park Pass ahead of time to visit Disneyland Park, Disney California Adventure, Magic Kingdom, Disney’s Animal Kingdom, EPCOT, and Disney’s Hollywood Studios.
In an attempt to please fans, both Disney Parks announced a plan to allow earlier Park hopping in January. This led many fans to believe the Park Reservation system’s days were numbered. Unfortunately, that doesn’t seem to be the case.
Iger told shareholders that he expects to continue to limit Guest attendance at the Disney Parks, which helps them better distribute Disney Cast Members, observe Guest behavior, and, ultimately, turn more profit. Though he didn’t directly speak on Disney Park Pass reservations, the phrase “limited capacity” started popping up at the same time they did.
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