Visitors can avoid the lines at Disney World by agreeing to the system.
Joseph Prezioso | Anadolu Agency | Getty Images
It’s becoming cheaper for families to visit Disney’s domestic theme parks.
The Walt Disney Company on Wednesday announced new limited-time discounts on children’s tickets to Disneyland and Disney World.
Starting October 24, parents will be able to purchase child tickets (valid for ages 3 to 9) to the California-based Disneyland Resort for as low as $50 each. The ticket period is from January 8th to March 10th next year.
As for Walt Disney World in Orlando, Florida, guests who purchase a four-night, four-day vacation package at either resort will receive half-price child tickets and dining plans. The deal begins on November 14th and is available from March 3rd to June 30th, 2024.
The price cuts come as the U.S.-based company’s park attendance and hotel room occupancy rates have slumped as consumers face higher costs due to inflation. Disney is not alone in facing these problems. Universal’s domestic parks, as well as regional parks like Six Flags and SeaWorld, are reporting declining attendance this year.
Travel agents cite soaring ticket prices and increased travel to Europe as the main factors behind the decline in attendance at domestic theme parks.
This isn’t the first time Disney has offered limited-time sales or price changes. Earlier this year, the company updated policies at both parks in the country, including changes to the reservation and ticketing system for Annual Pass members. The changes were made after guests complained about rising prices and long wait times.
The Parks, Experiences and Products division, which operates Disney’s parks, has continued to be a bright spot for the company in recent quarters. Disney has faced advertising-related revenue losses in its traditional media business, and rising production costs and licensing fees have made it difficult to monetize its streaming business.
Meanwhile, the parks sector saw a 13% increase in revenue during 2018. 3rd quarterreaching $8.3 billion.
The company touts that the division has expanded at a combined annual growth rate of 6% since 2017 and generated $32.3 billion in operating profit in the past 12 months.
Disney is leaning further into its successful business. The company plans to nearly double its investment in the parks sector, spending about $60 billion over the next 10 years.
Projects already underway include redesigning Splash Mountain at both domestic resorts to a “Princess and the Frog” theme, as well as updating existing hotel and resort locations. Disney also plans to nearly double the cruise line’s capacity, adding two ships in 2025 and one in 2026.
The company introduced the “blue sky” idea for its parks at last year’s D23 Expo in Anaheim, California. These projects are still in early stages of development and may never see the light of day. This included the possibility of re-theming Dinoland at Orlando’s Animal Kingdom as a “Zootopia” or “Moana” area.
At Magic Kingdom, Disney is asking the question, “What’s behind Big Thunder Mountain?” The company teased that an area based on “Coco” or “Encanto” or both could exist at the location. There was also talk of the possibility of recreating areas of the Magic Kingdom that are infested with Disney villains.
If these projects come to fruition, prices will fluctuate. His two recent additions to Disneyland and Disney World, Star Wars: Galaxy’s Edge Land, are each estimated to have cost him $1 billion.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.
