News

The Walt Disney World rumour mill is in full swing, and with various articles being published, we will give our view on what a regime change has in store for us Brits. 

First of all, It's worth noting that Bob Iger has been on the board in the background (although, if rumours had it, he was one of several board members pushing for Chapek's exit) during the reign of the former CEO. 

So what will Chapek's departure from Walt Disney mean for us Brits heading to the "Happiest Place in the World"? These are our thoughts: 

Finances

It's no secret that Disney's Disney Parks, Experiences & Products arm was the one plus point in a stunningly lousy quarter earning reports. The division made nearly $7.5 billion in revenue in the fourth quarter of 2022. 

So what is letting Disney down? In a word, streaming. Disney+ and ESPN+ reported a loss of $1.5 billion in Q4 of this year, which disappointed shareholders and caused their stock price to plummet quicker than the lifts on the Tower of Terror.

So the woes of Disney's latest quarter report aren't due to the parks not being busy. Instead, it's Joe public not subscribing to their streaming platform. 

Ticket Prices

Much has been said about how much ticket prices have risen under Chapek's reign. The reality is that Disney knows that the parks are oversubscribed even with Disney Reservations in place. The only way Disney can try and control this problem is by pricing guests out of the parks. We've already seen this in the past couple of weeks. With the news that day, tickets for the theme parks will now have variable pricing depending on which day you intend to visit (not so much an issue for the vast majority of British Travellers). 

Our Verdict: Unfortunately, we expect ticket prices to continue to rise as Disney tries to contain the number of people passing through the gates. With a Global recession on the cards, we may see prices rise more steadily, but the chances of ticket prices reducing are highly unlikely. 

Genie, Genie+ & Individual Lightning Lane

One of the most controversial introductions under Chapek's reign was the scrapping of the free Fastpass+ Service in favour of the Premium offering of Genie+ and Lightning Lane. We've said in the past that Genie+ and Lightning Lane have been incredibly successful for Disney, and the fact now the cost has doubled in the last year supports this. Some say this is due to Disney's greed, but others say that supply and demand would indicate that these prices need to go further. Just look at Walt Disney World's neighbours who charge over $100 per person to use th Express Lanes. It is a fact that the introduction of a paid FastPass system has caused division among Walt Disney World guests.

Our Verdict: Unfortunately, the times of a free FastPass+ system are long gone. Genie+ and Lightning Lane are here to stay, and we can only expect prices to increase further this year. What we can hope for under Bob Iger's watch is a sleeker customer experience using the service. 

Park Reservation System

The Park Reservation was put into place during COVID to act as a way for Disney to manage crowds, and yet at the end of 2022, the bloody system is still here, causing a B*llache for many guests.  

The reality is that the system is only in place for data gathering and for Disney to manage staffing levels. We've seen the pictures (and complaints) from guests showing how busy the parks are still, and the fact that no other theme park in the area still uses the same system begs the question of why and how long the system will remain in place. 

Our Verdict: We are confident that this may be the start of the end of the Disney Park Reservation system. However, don't expect this to happen in the short term.

Disney Imagineering

The most recent D23 event re-iterated just how much has been cut from the budget of Disney Imagineering within the parks. The Presentation lacked any confirmed significant projects in the pipeline, which disappointed many at the event. What added insult to injury was the fact the audience was subjected to "Blue Sky" artist impressions that most in the room knew will most likely never see the light of the Florida Sun. With Epic Universe quickly rising from its foundations over at Universal Orlando Resort, It was clear that Disney had nothing to compete with the new park. 

Our Verdict: What was clear in Bob Iger's statement after his appointment is that Disney's Imagination has been lacking over the last few years, and more investment is needed to regain the magic. We hope this translates back into the parks, and we can once again look forward to larger projects that match or surpass the areas, such as Pandora: The World of Avatar or Star Wars: Galaxy's Edge. 

Cast Members

It's been well-documented that Cast Member morale has significantly dropped under the leadership of Bob Chapek. It's been featuring more and more on several prominent Walt Disney World News sites just how bad things have got, and included several resignations to prominent Disney Imagineers over the last few months. As a result, good, hard-working cast members have been leaving hand over fist over the last few months, leading to noticeable disruption to park operations.

Our Verdict: One of Bob Iger's biggest challenges is getting staff back onside after a tumultuous period under the previous regime. With a cost of living crisis and rising inflation in the states, if Iger gets this right, he will have the building blocks to get Walt Disney World back on the right track if he gets it wrong. Universal Orlando Resort will be waiting for them. 

In Conclusion

We expect many positives under the new regime at Disney. With re-investment in the resorts and cast members on the cards, we can only hope this will rediscover some of the magic lost since the COVID-19 pandemic. 

However, if you're hoping this article will rejoice in cheaper tickets and the scrapping of Disney Genie+, then I can't bring you that good news. 

The price hikes will only continue in the short to medium term as demand is still high even though the World is going through a period of economic uncertainty. 

In short, I am quietly confident the overall guest experience will significantly improve at Walt Disney World, but at the price of regular families being priced out of experiencing Walt Disney's Dream.