el_super
Well-Known Member
Sorry no, they don't care about attendance. They care about revenue. If they could get the same revenue with 1% of the attendance, they would absolutely do it.
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Disney’s Q1 FY22 Earnings Results Webcast
- Thread starter DCBaker
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Sorry no, they don't care about attendance. They care about revenue. If they could get the same revenue with 1% of the attendance, they would absolutely do it.
Sirwalterraleigh
Premium Member
But then Wall Street would ask where the other 99% is?
it was never an either/or…
anyone supporting/believing the lower = better false narrative is contributing to the overall decline of parks…whether their opinion is different or not. The facts are what they always were going to be.
el_super
Well-Known Member
Huh? I thought the parks were too crowded before. I would definitely think the parks were better without the crowds.
How is that false in any way?
"Bob Chapek - Terrible for Disney Parks since 2015"©
That's what we've been saying since Bob 1.0 uttered those words - They don't care about attendence. However, it's much harder to charge 4,000 people $1500/day to get into a park than charging 40,000 people $150/day.
Sirwalterraleigh
Premium Member
Because they will crank attendance anyway they can as they Jack the prices. Accepting the prices and acting like it’s “beneficial” was a dangerous narrative by the customer since day 1
couple that with not demanding more reinvestment and you risk strangling your favorite puppy.
it’s how the Bobs “succeed”…the customers are making it impossible not to…
el_super
Well-Known Member
Yeah I would agree, and if this was 2019, we would be talking about this as a big experiment really.
But now today? That's why the 40% number is so significant. Not only is revenue increasing dramatically under this plan, they're not even trying that hard. The revenue increase is always validating the price increases we have seen, and if they can still pump attendance back up to pre-pandemic levels (by reintroducing entertainment and of course the int'l guest returning), they will officially enter "having their cake, and eating it too" territory.
Sirwalterraleigh
Premium Member
The goal is to Charge 50,000 $300 per day…
Or $3000…if they’re feeling “magical and pretty” that day
el_super
Well-Known Member
And if the attendance keeps going up, it just means the prices are still too low.
I do suspect that there is some trepidation that the attendance/revenue increases are short term recovery from the pandemic, and I'm sure inflation is probably paying some part in the wackiness going on, justifying keeping the pricing where it is right now. But yeah, if people are willing to pay the price and attendance keeps going up... then ... good for Disney I guess.
Sirwalterraleigh
Premium Member
I would say that cabin fever is allowing them to get away with more than normal…so that works in favor of their narrative as of now…
We can only hope that more people start making decisions about a WDW trip with logic instead of their emotions, because they are blinded by "magic" and "pixie dust". A 7-day park hopper has nearly doubled in price since 2015 (It was $400 in 2015). Food and beverage prices are far more expensive. Merchandise prices, less entertainment, parking fees, more pay-to-play schemes... Even our beloved DCL is starting to reach over-priced territory. And even my wife, who loves the parks as a getaway from the stresses of everyday life, is starting to change her tune because of how expensive everything is getting.
As a parkgoer since 1977, I cannot recommend a WDW vacation less right now. Go somewhere else. The only reason I'd even consider going in the next 12 months is to meet up with friends who I otherwise probably wouldn't have a chance to meet up with.
A recession may be the best thing for the parks right now, at least from the view of those who are disgusted with Bob and Josh.
As a parkgoer since 1977, I cannot recommend a WDW vacation less right now. Go somewhere else. The only reason I'd even consider going in the next 12 months is to meet up with friends who I otherwise probably wouldn't have a chance to meet up with.
A recession may be the best thing for the parks right now, at least from the view of those who are disgusted with Bob and Josh.
To add to that , what a number of people have become in life, to accept to pay higher prices, getting more for less and the companies churning out the products know that.
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hopemax
Well-Known Member
My cousin, just asked yesterday where to start planning a WDW vacation. And as cheaply as possible. At least, it was via Facebook so she didn't have to see me laugh and shake my head. I started with an explanation of how much things have changed because of pandemic, sent her a link to Touring Plans, my Dad offered up his sign-ins if the restrictions will work with their schedule, and then said "if your head doesn't explode, I can answer more specific questions." We'll see what happens.
I've seen a few things about how the Roaring 20s ended for regular folks. That's one hangover I'd like to avoid. But everything about the current state of the world seems to be flashing warning signs and everyone is all, "The pandemic just ended, what are you going to do now..." screams *I'm going to Disney World!*
Sirwalterraleigh
Premium Member
In my many years as a forum harbinger…I’ve noticed that people have no tolerance for the side by side money comparisons you’re making. They always blame inflation…and then start with the Broadway, phone bills…blah blah blah strawmen comparisons…
And the investment is not there for return.
that’s why “supply and demand” does not work for Disney. This is not a balanced equation…it’s mostly emotional and reputation…
in a classic relationship, customers weigh cost vs return…but the inner Disney guard will NOT. It’s personally offensive to them (buzzword) and they will encourage others outside the circle to do the same…leave the brain behind.
what other disposable, non functional product will people do that with? What brand? Apple? Microsoft? Tesla? Nope…all are functional. Disney is disposable. Never fills a “need”.
it’s a credit to them…their brand Is their backbone. But it’s an oilfield…the pump could run dry. Don’t doubt it.
one thing though: Disney cruise line is thoroughly overpriced, irrational, and feeds this beast too. As does DVC in the Bob era. It’s all “self reinforcing”.
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Sirwalterraleigh
Premium Member
I hear this a lot Now too…
non-devoted fans have an 80’s/90’s/00’s predetermined belief in what going to wdw is…but have no idea that the pricing in the last 10 isnt the way they did it before at all. One of the strengths of corporate was that they showed a “strategic restraint” in pricing…it was an amazing intangible.
now they are charging $15 a day…intro price…to get into the line that moves on Peter Pan. 51 year old gears on that cutting edge ride.
FlutteringLights
New Member
Never have I met so many people raging at the basic concept of macroeconomic supply and demand
Sirwalterraleigh
Premium Member
Probably because this isn’t an intro class that we’re too hung over to remember that we wanted to skip it and get a bagel instead?
and what’s “macro” here, Friedman?
FlutteringLights
New Member
Being hungover through college for you lot explains a lot going on in this thread.
TikibirdLand
Well-Known Member
I only wish. Where would you peg in the timeline where we're done with the "surge" and back to "normal" in order to judge if the price increases are making an effect?
Sirwalterraleigh
Premium Member
It’s very complicated with Disney…
remember: 1/3 of Disney on property rooms are reserved for a timeshare that they have intentionally stretched out for years…with no end in site there.
they are “creating their own demand” and then charging for it
