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Disney World Tips and Tricks

What kind of piece of shit wouldn’t let someone back in line to see some lame show after going back to get her phone?
 
The Walt Disney Company fired CEO Bob Chapek and replaced him with former CEO Bob Iger.

deadline.com

Disney Shocker! Bob Iger Back As CEO, Bob Chapek Out

After less than a year in retirement, Bob Iger has returned as the CEO of the Walt Disney Company. The board just sent out a notice that Bob I. is back and recently re-upped Bob Chapek is out. Havi…
deadline.com deadline.com
 
A lot of people seem pretty happy about that. Why? What did the new guy do that was so unpopular?
 
As far as the parks, his regime took the nickel and diming to the extreme. Raised prices. Kept the reservation system that started during COVID. Stopped selling annual passes. He directly made a lot of tone deaf comments that pissed off the most loyal fans. The major theme behind park policies is that they wanted fewer passholders and more wealthy guests willing to spend a lot of money.
 
Gotta think there are lots of fans like you who started taking their money to Universal in spite of it being similar in price.
 
Yeah, Chapek did great work at the Parks. While it sounds like he annoyed Ph, that's the part of the business that is firing on all cylinders. They are basically printing money.

The issue with Chapek is that he is not a content guy and he has hurt relationships with talent (both internal and external). He also didn't handle the dust-up with DeSantis well a while back... Lots of internal criticism there from employees. The thinking is that Iger can come in and reverse some of the restructuring that Chapek did (specifically, the segmenting of content and distribution, which used to be married and Chapek split up).

The final straw for Chapek was likely that Disney+ is still losing a ton of money and that isn't supposed to get better for a couple of years (profitability keeps getting pushed out).
 
Disney+ had the largest subscriber growth of any streaming company. If it’s still losing money, it’s because it was always going to lose money.
 
PhDeac said:
Disney+ had the largest subscriber growth of any streaming company. If it’s still losing money, it’s because it was always going to lose money.
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Agree that the streaming business model is, at best, unproven. At least in terms of profitability, though you could argue that NFLX has been successful.

Will be interesting to see how Disney+ ARPU trends with the coming price hike (and the addition of ads).
 
I heard Disney is having problems because it’s become too woke.
 
I think the streaming model that would have worked best for everyone is a centralized archive which is kind of what we had when Netflix started. The archive pays for old content well after its initial run and maybe a secondary run. People pay for one streaming option probably at a higher price point than before.

The Parks print money because Disney has slowed their spending. The Parks are printing money but losing fans. Parks are crowded because they’re not spending to increase capacity.

The only new attraction on the horizon for WDW is Tron which was announced forever ago. Dueling Dragons at Universal was still in operation when Tron was announced. Hagrid’s replaced it 2.5 years ago. All the other major parks in Florida have opened two new coasters since Tron was announced. Legoland opened up a whole new park. Disney is going to have a tough time getting new visitors after people have taken their big post-pandemic trip.
 
PhDeac said:
I think the streaming model that would have worked best for everyone is a centralized archive which is kind of what we had when Netflix started. The archive pays for old content well after its initial run and maybe a secondary run. People pay for one streaming option probably at a higher price point than before (around 19.99 to $24.99).

The Parks print money because Disney has slowed their spending. The Parks are printing money but losing fans.

The only new attraction on the horizon for WDW is Tron which was announced forever ago. Dueling Dragons at Universal was still in operation when Tron was announced. Hagrid’s replaced it 2.5 years ago. All the other major parks in Florida have opened two new coasters since Tron was announced. Legoland opened up a whole new park. Disney is going to have a tough time getting new visitors after people have taken their big post-pandemic trip.
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Things have changed since Netflix ran that kind of model. If you don't regularly update the content, you have people just come and go from the platform. Netflix struggles with that to the point that you see subscribers ebb and flow now based on "events" like Stranger Things 4. Beyond that, the world of PayTV has changed dramatically since these streaming platforms have gained momentum. That is where Disney is having the majority of its problems now... Cable companies are losing subscribers at an alarming rate and that hurts Disney / ESPN. The streaming genie left the lamp a long time ago... Not sure you can go back at this point.

Your 2nd statement on the Parks printing money because they have slowed spending is flat-out false. Spending slowed during the pandemic, but plans for investment in the parks is higher than it has ever been (though that spend isn't concentrated in Orlando). They've been able to raise ticket prices because Disney is a unique experience with a limited number of available slots.

Agree that things at the parks could certainly change once we get past this period of pent-up post-pandemic demand, and there is also the question of how things will go in the recessionary environment we're likely to see in the near future. But the CEO change wasn't based on what is happening with the Parks segment.

I do really appreciate your take as a sort of Disney superfan living in Florida... Most of what I head is based upon what the company is saying during earnings calls and at investor events. Or what is being written in the financial press. That's obviously a different perspective, which has the potential to miss what is happening with consumer sentiment and satisfaction.
 
People come and go from the platform because of the competition. If all the companies were dumping content on Netflix, the subscribers would keep their subscriptions.

In terms of Parks investment, are you talking about overseas?
 
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Almost every Disney "fan" I know has expressed unhappiness with the way the parks are currently being run and how annoying of an experience it is. See a lot of complaints online too. Anecdotally, we were planning on taking our kind when he is 6-7 but may opt for something else entirely. The thought of having to micro-manage your entire schedule and be glued to an app to make reservations, schedule timeslots for rides/experiences etc. all to work around overcrowded parks doesn't appeal to me at all.
 
Here's a quick rundown of the parks that has something for both you and I, Ph...

Disney theme parks -- and to a lesser extent Disney+ -- have been carrying the revenue growth torch for the House of Mouse for the past year and change. Business is booming at Disneyland and Disney World.

We knew it would be a strong showing. Rival Comcast (CMCSA) -- matching Disney's reach with its Universal Studios gated attractions in Central Florida and Southern California -- posted a 42% year-over-year increase in revenue for the same quarter late last month. The segment's adjusted EBITDA soared 89%.

Disney fared even better. Its domestic theme parks rang up 44% more in revenue than they did in the prior year's fiscal fourth quarter. The segment's operating profit nearly tripled. The gains were even heartier on both ends for Disney's smaller international theme parks. The segment thrived despite a disruption in Disney World near the end of the quarter as Hurricane Ian barreled through Florida.

The secret to the theme park segment's success isn't going to make everyone happy. Revenue per capita is up 6% over the past year and up a whopping 40% from pre-pandemic levels as Disney adds premium add-ons to get folks willing to pay for access to shorter queues for rides and attractions. Disney's park reservations system that typically favors higher-paying guests on single-day admissions or staying at a resort hotel has also made every turnstile tap that much more lucrative.

Disney and its rivals are now comfortably ahead of where they were back in 2019, something that can't be said for the cruise industry, multiplex operators, and other leisure stocks. It feels good, but it's a dangerous game.

It's been a year since Disney introduced Genie+ as a premium queue-shortening platform. Prices for in-park food and merchandise continue to head higher, far outpacing inflation. Disney shareholders may marvel at the rising ceiling, but what happens when the lights go out and the body crashes to the floor?

Disney will naturally keep pushing prices higher and add premium experiences until folks stop coming or paying. It truly is a stunning ascent, and Disney revealed that its international business in terms of guest mix is finally back to pre-pandemic levels. It looks good now, but is it sustainable? Is anybody happy with the Disney parks reservations system that rivals have long abandoned? At some point the pricing elasticity will snap, and that's when Disney will learn that it's a small world after all.
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And yes, a lot of the coming investment in the Parks is for Paris and China.
 
Part of the problem with Genie+ and Lightning Lane is that they’re charging for what used to be complementary. I understand that paying for rides was untapped revenue. But instead of creating a new product and charging a premium rate, they chose to nickel and dime for what used to be free. That’s a much different model that parks like Universal, Cedar Fair, and Six Flags use. Universal’s pass is very expensive but it’s also complementary if you stay at their premier hotels.
 
PhDeac said:
Part of the problem with Genie+ and Lightning Lane is that they’re charging for what used to be complementary. I understand that paying for rides was untapped revenue. But instead of creating a new product and charging a premium rate, they chose to nickel and dime for what used to be free. That’s a much different model that parks like Universal, Cedar Fair, and Six Flags use. Universal’s pass is very expensive but it’s also complementary if you stay at their premier hotels.
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And Universal's pass is much lower effort to use and enjoy on top of that.

It's not even a guarantee you're gonna be able to make the most of Disney's system if you're not familiar with it.
 
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