As if visiting a Disney theme park wasn’t already outrageously expensive, the Walt Disney Company is once again hiking the price of admission to Disney World in Orlando and Disneyland in Anaheim, with certain passes skyrocketing by as much as 21 percent.
Disney is also jacking up the price of parking in Orlando from $25 to $30, or 20 percent.
The eye-popping increases, which take effect immediately, represent Disney’s latest attempt to juice revenue amid faltering financials that have left the once invincible company in disarray. Long a reliable cash cow, Disney parks are showing signs of serious vulnerability, with mounting reports of weak attendance as families dealing with the crushing effects off Bidenflation opt to stay home.
Disney shares are languishing near record lows, down nearly 4 percent for the year and more than 8 percent in the past 12 months.
Disney Raises Some Prices at Disneyland and Disney World as it Preps $60B Parks Investment https://t.co/Cnj23k3Hh4
— The Hollywood Reporter (@THR) October 11, 2023
On Wednesday, Disney officials attributed the price hikes to investment in the parks.
“We are constantly adding new, innovative attractions and entertainment to our parks and, with our broad array of pricing options, the value of a theme park visit is reflected in the unique experiences that only Disney can offer,” a Disney spokesperson said in a statement.
At Disneyland, prices are soaring for almost every ticket level, with daily and multi-day tickets rising between 4 percent and 15.7 percent, according to The Hollywood Reporter. The price of “Magic Key” annual passes will climb between 3 percent and 21 percent.
Meanwhile, Disney World is seeing the price of annual passes rising between $40 and $50.
The company noted the price date-based tickets hasn’t changed, and that the lowest-priced ticket has remained at $109 for the last five years.
The price hikes follow reports earlier this year saying Disney parks experienced a disappointing summer in terms of attendance, with one travel company that tracks line-waiting time at Disney World saying that the Independence Day weekend was one of the slowest in nearly a decade.
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