Disney World on Tuesday revealed increases in theme-park ticket prices and said for the first time it will charge extra for one-day tickets based on which park a customer reserves.
Starting Dec. 8, the minimum one-day price for the Magic Kingdom will rise nearly 14% from $109 to $124 and reach a maximum of $189 during the nine-day Christmas holidays. The one-day price for Epcot will range from $114 to $179.
They are the first hikes in base ticket prices since 2018 as the resort continues to raise prices in other areas, causing some loyal fans to complain about the higher costs. Analysts say the company is following a trend of price increases imposed by other entertainment venues attributed to higher operating costs.
Current theme park ticket prices range from $109 for a value ticket to $159 per day, depending on date.
The park is also instituting introducing date-variable pricing for its Park Hopper add-on and upping the cost of its annual passes.
Disney has achieved record revenues in recent quarters because of customers spending more in theme parks. Executives have said Genie+, the paid skip-the-line service that replaced the previous free FastPass+ system, has been a major contributor to increased guest spending.
Disney spokesman Avery Maehrer said this is the first time the company has increased its base ticket price range in more than three years. He said Disney is continuing to invest in its theme parks.
“We continue to focus on providing guests with the best, most memorable Disney experience, and we’re doing that by growing our theme parks with incredible attractions and offerings,” Maehrer said in a statement.
He said the changes help make planning easier for some guests, since the one-day tickets automatically book a theme park reservation and lower prices are available throughout the year.
Kelly Semrad, an associate professor at the University of Central Florida’s Rosen College of Hospitality Management, said she believes Disney is testing a strategic price increase and will ultimately earn more from it.
“They suspect that there’s a consumer surplus, meaning that the customers are willing to pay more to go to Disney, so then they want to test that elasticity of demand to see, ‘Well, how much more are they willing to pay?’” she said. “And as they begin to raise the price, they’re going to lose a certain percentage of their guests that would be coming into the theme park, but the price increase would offset [that].”
Disney already was varying prices for one-day, one-park tickets by date. Now it’s increasing the price range for all its theme parks but the Animal Kingdom.
Hollywood Studios tickets start at $124 and go up to $179. Epcot prices also range up to $179 but start at $114.
In a statement, Disney said Magic Kingdom will be priced higher than the other parks because it is the “most-visited theme park in the world.” The Themed Entertainment Association said the theme park drew nearly 12.7 million people in 2021.
The new ticket calendar with updated pricing will be released Dec. 8. Prospective guests are still able to book trips ahead of that date with the current, lower pricing.
Disney will still continue to offer discounted tickets throughout the year to groups such as active duty and retired military members and Florida residents. Prices will vary by date and offer.
Similarly, the prices of ticket add-ons Park Hopper and Park Hopper Plus, which allows customers to visit more than one park a day, will begin varying by date on Dec. 8. Disney did not release the new price ranges Tuesday.
The prices for the three highest tiers of Disney World’s annual passes are also going up, although the company has suspended the sale of these new annual passes for over a year.
The Pirate Pass will go up by $50, from to $749 from $699; the Sorcerer Pass will increase $70, from $899 to $969; and the highest tier Incredi-Pass will increase by $100, from $1,299 to $1,399.
The cost of the Pixie Dust pass, the only pass currently for sale, will remain unchanged at $399. This pass is limited to Florida residents and offers theme park access between Monday and Friday.
Disney has not released any information on when new annual pass sales will be resumed. Current passholders still receive a discount on renewals, the company said.
Even as Disney’s theme parks recently reported record revenue due to guests spending more, CEO Bob Chapek said job cuts and a hiring freeze are coming to the company as it sees significant losses in its streaming sector.
Chapek’s Friday memo to executives did not say where these cuts would take place. Disney World continues to hire workers, and existing employees are unlikely to lose their jobs anytime soon, one union leader said. State filings show Disney has not notified the Department of Economic Opportunity of impending mass layoffs.
Disney “is making money on both sides” for shareholders by increasing its theme park prices and cutting back on its labor costs, Semrad said.
Semrad, who recently spoke at a union event asking Disney World and local tourism employers to raise their minimum wages, said she hopes Disney will pass these revenue increases on to its employees.
In union negotiations, Disney has proposed gradually raising its minimum wage to $20 over the next five years, but workers say they need immediate raises to afford rising living costs.
“I hope that it’s to pay the employees a livable wage, but I don’t know that that’s actually what would occur,” Semrad said Tuesday.
