Disney hikes prices for California theme park tickets, Genie+
Disneyland last raised its prices in October 2021
Guests visiting Disney's California theme parks will now have to dole out more money.
According to the House of Mouse's new pricing, one-day tickets in Tiers 1-6 will now cost between $114 to $179 depending on the day, up from the previous range of $104 to $164. The company has also introduced a new Tier 0 that will offer $104 daily tickets on the least crowded days of the year.
A multi-day ticket will now cost $285 for two days, $360 for three days, $395 for four days and $415 for five days, up from $255, $330, $360 and $380, respectively. Disney's one-day park-hopper add-on, which allows guests to visit more than one park per day, will now range between $179 and $244 for Tiers 1 through 6, compared to the previous range of $164 to $224. The least expensive park-hopper ticket through Tier 0 will cost $169.
AS INFLATION RAGES, MORE AMERICANS ARE STRUGGLING TO PAY THEIR BILLS
The last time Disneyland raised its daily ticket prices was in October 2021. In August, the company raised the price of its Magic Key passes, which replaced Disneyland and California Adventure's annual pass program.
"Our tiered ticketing structure offers guests more options and choice to visit throughout the year, including our lowest price point," a Disneyland spokesperson told FOX Business.
Lightning Lane sign at Space Mountain in Tomorrowland at Disneyland in Anaheim, CA, on Wednesday, August 10, 2022. (Photo by Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images) | Getty Images
In addition to increases in admission, Genie+ will increase to $25 per day from $20 in California when purchased in advance. Guests who wait to purchase Genie+ at the parks will be subject to variable pricing based on the date.
Under Genie+, guests can skip long lines at select attractions all day long and up to two high-demand attractions per day through so-called Lightning Lanes. High-demand attractions include Star Wars: Rise of the Resistance at Disneyland and Radiator Springs Racers in California Adventure.
Hotel valet will now cost $65, up from $50, and preferred parking will cost $50, up from $45.
HULU RAISES SUBSCRIPTION PRICES
A Walt Disney World spokesperson told FOX Business that ticket prices at the company's Florida theme parks will not increase. Genie+ will range between $15 and $22 per day through the end of October in Florida when purchased in advance and be subject to variable pricing when purchased in the parks.
ORANGE COUNTY, FLORIDA, USA - JUNE 1: Crowds pack and fill Main Street USA at the Magic Kingdom Park at Walt Disney World in Orange County, Florida on June 1, 2022. Walt Disney World is celebrating its 50th anniversary all of 2022. (Photo by Joseph P ((Photo by Joseph Prezioso/Anadolu Agency via Getty Images) / Getty Images)
"We have seen strong and continued interest for Disney Genie+ throughout its first year – many guests are purchasing the service and the majority tell us they intend to purchase again on their next visit," the spokesperson added.
CLICK HERE TO READ MORE ON FOX BUSINESS
The changes come after Disney's Parks, Experiences and Products division posted revenue of $7.4 billion in the third quarter of 2022, compared with $4.3 billion a year ago. Domestic theme parks accounted for $5.4 billion of total revenue, while international accounted for $788 million. Segment operating income increased to $2.2 billion, compared with $400 million during the same period a year ago.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 115.07 | +5.94 | +5.44% |
Disney shares are down approximately 40% year to date.