Disney Parks is lowering some prices and increasing benefits for guests in a bid to win back customers who felt nickel-and-dimed in recent years. Among other changes, the company is increasing the number of cheaper tickets available to guests, relaxing reservation requirements, and reintroducing complimentary overnight self-parking.
The policy changes come after a whirlwind couple of years for the House of Mouse. After shutting down completely early in the pandemic, former CEO Bob Chapek led an initiative to focus on getting visitors to spend more money rather than driving more traffic to the park. Chapek called the strategy "yield management."
This approach worked — for a while. Disney had some record quarters, with the experiences and parks division making $7.9 billion in profits in 2022, which was up from $6.8 billion in profits in 2019, but Disney's famously loyal park visitors could only take so much change. Multipleoutlets reported that the combination of higher costs and more restrictive policies was causing a backlash from customers.
The parks also implemented a number of changes related to the pandemic, such as requiring contactless payment, which also weren't received well by customers.
Now Disney is trying to win them back.
"As we step into this bright future it is important that we continuously evolve to help deliver the best guest experience possible," wrote Josh D’Amaro, parks and resorts chairperson, in a letter. "Many of you know that I’m in the parks fairly often … and I listen to you and to our guests about the things that are working … as well as the things that might need some change."
Disney is making these changes less than two months after CEO Bob Iger took the head role once again from Chapek for a two-year stint aimed at getting the company on firmer ground.
The dreaded Netflix crackdown on profile sharing translated into a major boost in subscribers while the promised rate cuts seem to be a far off fantasy.
After the 2021 boom, IPO activity slowed down significantly, in part due to monetary policy – but things are getting moving again with tech-friendly companies like Iboutta and Rubrik making a public debut.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
