We knew Disney was having issues with multiple movies flopping (they still haven't figured out people want to be entertained, not lectured), but we had no idea how bad and how far the bad went until we came across this thread from the always-brilliant, Jim Geraghty.
He really did all the work for us.
Take a look:
You've probably noticed the consequences of Disney’s belt-tightening all over the media world.https://t.co/4cL2ESVnsm pic.twitter.com/ox4HHg0oWr
— Jim Geraghty (@jimgeraghty) July 11, 2023
This morning, the Wall Street Journal reports new trouble at one of the company’s most iconic, lucrative, and reliable moneymakers, the theme parks:https://t.co/qQwk7ynNdA
— Jim Geraghty (@jimgeraghty) July 11, 2023
The current ticket prices for Walt Disney World and its related theme parks are as follows:
— Jim Geraghty (@jimgeraghty) July 11, 2023
Disney’s Animal Kingdom: $109-$159
Disney’s Hollywood Studios: $124-$179
EPCOT: $114-$179
Magic Kingdom: $124-$189https://t.co/4cL2ESVnsm
By comparison, in 2013, a ticket to the Magic Kingdom was $95. Adjusted for inflation, that is the equivalent of $125.46 today. (Inflation-adjusted prices were generated using the Bureau of Labor Statistics inflation calculator.)https://t.co/4cL2ESVnsm
— Jim Geraghty (@jimgeraghty) July 11, 2023
In 2003, a ticket to the Magic Kingdom was $52. Adjusted for inflation, that is the equivalent of $87.04 today.
— Jim Geraghty (@jimgeraghty) July 11, 2023
In 1993, a ticket to the Magic Kingdom was $35. Adjusted for inflation, that is the equivalent of $74.65 today.https://t.co/4cL2ESVVhU
In 1983, a ticket to the Magic Kingdom was $17. Adjusted for inflation, that is the equivalent of $52.86 today.
— Jim Geraghty (@jimgeraghty) July 11, 2023
In other words, it’s not just your imagination and it’s not just inflation; a ticket to Disney World has grown considerably more expensive.https://t.co/4cL2ESVVhU
A wild overestimation of how much customers were willing to spend was probably a big factor in the surprise closure of the Star Wars-themed “Galactic Starcruiser” attraction at the Epcot Resort Area.https://t.co/4cL2ESVnsm pic.twitter.com/LnwAbkRK86
— Jim Geraghty (@jimgeraghty) July 11, 2023
Or you know, they stopped caring about who their real customers were long, long ago.
At some point, Disney leadership embraced a strategy of attracting a smaller but wealthier clientele when it comes to the company’s theme parks. That’s their right as a business, but as we see above, eventually you run out of fabulously wealthy families. https://t.co/4cL2ESVnsm.
— Jim Geraghty (@jimgeraghty) July 11, 2023
You also run out of fabulously wealthy families who are willing to be scolded over and over again for how they believe but we digress.
The world only has so many parents willing to spend $4,800 to $6,000 to hang around with Star Wars characters for two days. Just how often did Disney think these families would come back and spend another $6,000 or so to have the same experience again?https://t.co/4cL2ESVnsm pic.twitter.com/odKyVsnVPW
— Jim Geraghty (@jimgeraghty) July 11, 2023
Disney built its image on family friendly entertainment, and for years, a middle-class family could save up for a trip to Disney World. Now, a day at the park for a family of 4 costs, at minimum, just under $500. That’s just to get in the door — no meals, lodging, souvenirs. pic.twitter.com/vTM9ZxJuxP
— Jim Geraghty (@jimgeraghty) July 11, 2023
Just to get in the door. Wow.
Disney was never cheap, but it also wasn’t considered a luxury brand, reserved for the wealthy. It wasn’t Ralph Lauren, Tiffany, Brooks Brothers, or Cadillac. Its brand was middle-class middle America, literally naming the entrance, "Main Street USA."https://t.co/4cL2ESVVhU
— Jim Geraghty (@jimgeraghty) July 11, 2023
While Disney’s movies, television shows, and ubiquitous merchandise are purchased by customers from all walks of life, you can make a strong case that the theme-park aspect of Disney is indeed now a luxury brand.https://t.co/4cL2ESVVhU
— Jim Geraghty (@jimgeraghty) July 11, 2023
I cannot help but suspect that Disney’s theme parks evolving into a luxury company catering to the world's wealthiest clienteles is intertwined with the company’s evolution into an institution with an increasingly outspoken progressive cultural agenda.https://t.co/4cL2ESVVhU
— Jim Geraghty (@jimgeraghty) July 11, 2023
In other words, go woke, go broke.
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