Inflated Park Prices Pay Off: Disney Made More Money Than Ever This Year

in Disney, Disney Parks

Cast Member dressed as Mickey Mouse at a Disney Park

Credit: Disney

The Walt Disney Company might have seemed to have a rough year, but the numbers don’t lie. According to its earnings report, the House of Mouse made more revenue this year than literally ever before.

Mickey Mouse posing behind a 100 sign for the Disney100 celebrations during the Disney D23 Expo
Credit: D23

Disney Has Issues

In recent times, things have been going downhill for the Walt Disney Company. Attendance at Disney Parks was dealt a severe blow by the COVID-19 crisis and has not yet managed to rebound, even at iconic resorts like Walt Disney World and the original Disneyland. Several very public lawsuits with Florida Governor Ron DeSantis have impacted both crowds and the company’s public image, though not as much as the presidential hopeful himself.

Paul Rudd smirking as Ant-Man
Credit: Marvel Studios

A staggering series of Pixar movies like Lightyear (2022), Marvel Studios releases like Black Widow (2021) and Ant-Man and the Wasp: Quantumania, and Lucasfilm productions like Indiana Jones and the Dial of Destiny have severely underperformed at the box office. Some estimates clock the company as losing almost a billion dollars on its 2022 theatrical releases alone.

Related: Bob Iger Reportedly “Overwhelmed” and “Exhausted” by Disney Chaos, Insiders Say

Then there’s the Disney+ streaming service, which loses the company hundreds of millions of dollars every year and has struggled to overtake rivals like Netflix, Max, Amazon Prime Video, and even broadcast television. Marvel and Star Wars fans turning against shows like Secret Invasion and The Mandalorian certainly isn’t helping anything.

Grogu looking shocked in 'The Mandalorian' star wars
Credit: Disney/Lucasfilm

The Solution: Higher Prices

Despite all this, the earnings report just released by the company states that the company pulled in a staggering $32.5 billion for the 2023 fiscal year, an all-time high. For comparison, the 2022 fiscal year reported 28.7 billion, while 2021 was a mere $16.5.

It seems that this massive surge is in large part due to one of Disney Guests’ biggest complaints: the skyrocketing ticket prices. In the earning breakdown, Disney specifically cites the increased average ticket price and the Guest spending that goes along with it, explaining “Growth at Disney Cruise Line resulting from increases in passenger cruise days and average ticket prices,” “Growth at Disneyland Resort due to… Increased guest spending primarily due to higher average ticket prices,” and “Guest spending growth attributable to an increase in average ticket prices.”

That’s three different ways to basically say that the Disney Experiences branch of the company is making a whole lot more money because it has raised prices across the board.

Related: “Troubling Prices” Smack Disney With Major Lawsuit

Bob Iger’s Cost-Cutting

Disney CEO Bob Iger posing behind a model of Shanghai Disney Resort
Credit: D23

To be fair, the surge in solubility also has to do with current Disney CEO Bob Iger and his quest to cut the fat from every possible part of the company, allegedly to sell off things like the Disney Channel and find Big Tech partners for a very expensive new ESPN service.

Iger may be able to get what he wants sooner than expected if he can just figure out a way for Guests to keep coming to the Parks even as the prices get higher and higher.

Do you think Park prices have gotten out of hand? Tell us your gripes in the comments below!

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