Disneyland in California is hiking its ticket prices for its high-demand days on the tail of reports that Disney’s parks are seeing looming financial loss.
The Anaheim-based park will keep its entry-level ticket price of $104 a person, but tickets based on demand will rise between $7 and $12, which is up to a 6.5 percent increase, according to CNBC.
The park’s Magic Key annual pass is also going up, increasing between six percent and 20 percent — or between 100 and 125 dollars — depending on the pass.
The hikes come after reports that Disney shares dropped more than two percent early this month on reports that Disney has not yet been able to reverse its financial problems, even among its parks which have traditionally been its most reliable revenue generator.
Disney confirmed the loss in its most recent quarterly earnings report in August, with executives specifically citing inflation when it said that its “Experiences” division — which includes theme parks, cruise ships, and other live entertainment offerings — will see a decline in income in the next few quarters.
Despite the price hikes, Disney has also offered several discounted packages for guests who also stay at the park and visit during off-peak hours.
Disney’s pricing plans are based on peak and off-peak days with tickets costing more during more popular days. The park has a tiered pricing plan with Tier 0 being its lowest price at a $104 base price to Tier 6 with a $206 price point.
The entertainment giant has been having financial problems for several years, and since last year has engaged in several waves of employee layoffs.
Disney has been eliminating employees for the last few years already. And just last week, it was reported that another 300 workers were going to be cut in the coming months.
In August, the Mouse House slashed 140 jobs across its entertainment TV division, with National Geographic and Freeform among those confirmed as reducing headcount.
In January, even Disney’s celebrated animation arm, Pixar, was told it would face hefty layoffs.
This year’s layoffs come after Disney eliminated a whopping 7000 jobs worldwide last year, with CEO Bob Iger promising an additional $2 billion in additional cost savings.
Disney has faced a long gestating backlash from customers who are infuriated over the company’s ultra-woke agenda that creeps into nearly every product it produces, especially its promotion of transgenderism in its entertainment aimed at children.
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