News Disney CEO Bob Iger says raising park prices and increasing capacity is not smart and criticizes previous policies

[NelsonRD]

If you have kids wait until they are older and can enjoy it more and can be reasoned with about the costs of stuff. I know it's cute taking babies into the park for that photo op with Mickey, but, where are their memories? Plus, having looked after my sister's kids when they were very, very young and taking them out and about it was such a hassle, nappies, feeding and so on, I love them to bits, but, when I finally took them to Disneyland Paris when they were 13, 9 and 6 we had an absolute blast. The cost was more, but, the memories are priceless.

Comments like this miss the point. The point is not having them remember it, the point is seeing the magic though their eyes.
If you believe in holding out on experiences until they are older so they remember, you should also wait until they are older for Santa, the tooth fairy, easter bunny, etc.....

 

[Sirwalterraleigh]

I just think he’ll continue to pretend to care, change nothing, and then proceed to blame everyone else in order to successfully keep his position. People will continue to fall for it, and then he’ll retire when he thinks he’s found something better to do - like politics.

I’m curious why you think his credibility is this high now?

They are in no better position now than they were when he had chapek fired (after he quit at the beginning of Covid like a coward and EVERYONE knows it)…and none of the “problems” are better.

Park issues: not better
D+: not better
Movies: worse…probably
Florida situation: worse
China situation: not better
Stock: not better
Labor situation: probably worse
Dividend: still non-existent
Pricing: worse…trying to raise it across the board as always


…what am I missing?
Wall Street is a bunch of idiots…not morons.

 

[Winegent61]

Disney CEO Bob Iger says raising park prices and increasing capacity is not smart and criticizes previous policies

Disney CEO Bob Iger says raising park prices and increasing capacity is not smart and criticizes previous policies

www.wdwmagic.com

Why isn’t the annual passes availability being addressed. That is where the value starts

 

[culturenthrills]

Please stop with the 5th gate stuff. Both DHS and DAK still need more attractions to handle the crowds they get now and Epcot could do with a couple of more esp in World Showcase. Also, who is going to staff it. The labor shortage problem isn’t going away. With home insurance and rent prices out of control people can’t afford to live here and car insurance is going up and up too. And you have a state government that is doing absolutely nothing to do deal with it except making sure landlords and insurance companies will be able to screw over consumers even more.
My biggest worry about Epic Universe is where is Universal going to find enough people to run it.

 

[Drdcm]

I’m curious why you think his credibility is this high now?

They are in no better position now than they were when he had chapek fired (after he quit at the beginning of Covid like a coward and EVERYONE knows it)…and none of the “problems” are better.

Park issues: not better
D+: not better
Movies: worse…probably
Florida situation: worse
China situation: not better
Stock: not better
Labor situation: probably worse
Dividend: still non-existent
Pricing: worse…trying to raise it across the board as always


…what am I missing?
Wall Street is a bunch of idiots…not morons.

I don’t think he’s credible. Admittedly, I have no evidence that he will escape blame. My impression is based on how he is perceived now (outside of the Disney community) despite all the stuff you’ve mentioned.

For example, the interview this forum is based on. Nobody is asking “didn’t you originally say that the goal was to price people out to reduce demand? Why the change of heart?”

This is the guy that made basically all the decisions that led them to where they are, yet the board actually sought him out to bring him back on.

My issue with him is he is more of a celebrity than a CEO. He babbles nonsense and wishful thinking to convince people he has a plan, when in reality his plan is now self serving. If you google Bob Iger, you don’t get results connecting him to Disney’s problems. You get results about him saying he’s going to wish the fixes into existence, except the writers are taking him seriously for some reason.

Back to the psychopath (nonviolent) thing. Only the “victims” see psychopaths for who they are… hence why most of us as a community don’t like him.

Now… you’re probably right. Any CEO who sucks this bad would probably get the boot. In reality, he probably will. I’m just a pessimistic person about this whole situation, and when it comes to people of celebrity and politician status, they seem to avoid consequences.

 

[monothingie]

Bob Iger's reaction after he ended the interview.

 

[networkpro]

I’m curious why you think his credibility is this high now?

They are in no better position now than they were when he had chapek fired (after he quit at the beginning of Covid like a coward and EVERYONE knows it)…and none of the “problems” are better.

Park issues: not better
D+: not better
Movies: worse…probably
Florida situation: worse
China situation: not better
Stock: not better
Labor situation: probably worse
Dividend: still non-existent
Pricing: worse…trying to raise it across the board as always


…what am I missing?
Wall Street is a bunch of idiots…not morons.

Granted these things have not been addressed, but they all take time. The average Hollywierd movie takes 4-5 years to produce even though filming is only maybe 1-3 months long. Each of these items has a supporting cost structure and associated budget line items. Tossing out such a large long term strategy and letting everything fall where it may isnt an option. As with a large ocean-going ship, there are no brakes or rapid changes in direction for a large corporation without structural risks. Gradual change is whats in store and Igers next replacement is at the front of the line.

 

[Sir_Cliff]

I know you didn’t ask me, but he has all the business folks absolutely drooling over him. I think his ego is so large he’ll stay longer than 2 years. It seems like only the hardcore fans see him for what he really is.

I’ve said it before and I’ll say it again. He shows the signs of psychopathy. Psychopaths are really good at fooling people.

Honestly, this is why they ignore the hardcore fans. One CEO doubles down on price rises and gouging and is pilloried, then the next CEO who shares responsibility publicly recognises they may have been too aggressive in their pricing and literally gets called a psychopath. I have a feeling if Iger or D'Amaro announced that entry was free from tomorrow they would be greeted with sarcastic "Nice try!" messages and a lot of eye rolling.

From my perspective, I at least welcome the recognition that they need to course correct but will wait to see if they actually do. There has been a lot of talk about expanding capacity as part of that course correction. Again, though, we'll see whether there's anything to that and what it means soon enough. I probably won't love the plans as I don't like single-IP lands, but we'll see.

I also agree with @CastAStone's point regarding the perverse incentives offered by the stock market for publicly-traded companies to raise profits ever-higher quarter after quarter regardless of the longterm impact on the business. This is why I never understand why people cheer the stock price going down if earnings are a little soft, as I find it very doubtful the message any current or future CEO will take away from that is that we need to cut prices and raise spending at the parks.

 

[Drdcm]

Honestly, this is why they ignore the hardcore fans. One CEO doubles down on price rises and gouging and is pilloried, then the next CEO who shares responsibility publicly recognises they may have been too aggressive in their pricing and literally gets called a psychopath. I have a feeling if Iger or D'Amaro announced that entry was free from tomorrow they would be greeted with sarcastic "Nice try!" messages and a lot of eye rolling.

From my perspective, I at least welcome the recognition that they need to course correct but will wait to see if they actually do. There has been a lot of talk about expanding capacity as part of that course correction. Again, though, we'll see whether there's anything to that and what it means soon enough.

I also agree with @CastAStone's point regarding the perverse incentives offered by the stock market for publicly-traded companies to raise profits ever-higher quarter after quarter regardless of the longterm impact on the business. This is why I never understand why people cheer the stock price going down if earnings are a little soft, as I find it very doubtful the message any current or future CEO will take away from that is that we need to cut prices and raise spending at the parks.

I think you may have misinterpreted what I meant by psychopath. I meant it in the literal sense, not the colloquial sense. It’s protective in c suite positions because they are able to “cut the fat” without any personal sense of responsibility or guilt. They read people well and can figure out what buttons to push and who to befriend to cling the ladder. It’s one of the reasons they can rise in ranks so quickly. I don’t think he’s evil, has malicious intent, or is out to get anyone. He is who he is and his behavior (primarily self serving) will remain consistent with previous behaviors.

Like you said, it is great that he says they need to course correct, so now he needs to do something about it. I’ll be the first person to admit I was wrong. I was happy about the elimination of hotel parking. I don’t complain about objectively good things happening.

Not to toot my own horn. I literally specialize in personality disorders and psychopathy which is why I comment on this stuff. 80-90% of my patients fall into those two categories, except they’re not the nice ones unfortunately. I only see them when their lack of empathy leads them to harm others or get into trouble. That’s less than 2% of psychopaths.

FWIW, I think his psychopathy is irrelevant to his job performance in my opinion. I was just utilizing it as an example of why he’s good at escaping blame.

 

[GimpYancIent]

I think you may have misinterpreted what I meant by psychopath. I meant it in the literal sense, not the colloquial sense. It’s protective in c suite positions because they are able to “cut the fat” without any personal sense of responsibility or guilt. They read people well and can figure out what buttons to push and who to befriend to cling the ladder. It’s one of the reasons they can rise in ranks so quickly. I don’t think he’s evil, has malicious intent, or is out to get anyone. He is who he is and his behavior (primarily self serving) will remain consistent with previous behaviors.

Like you said, it is great that he says they need to course correct, so now he needs to do something about it. I’ll be the first person to admit I was wrong. I was happy about the elimination of hotel parking. I don’t complain about objectively good things happening.

Not to toot my own horn. I literally specialize in personality disorders and psychopathy which is why I comment on this stuff. 80-90% of my patients fall into those two categories, except they’re not the nice ones unfortunately. I only see them when their lack of empathy leads them to harm others or get into trouble. That’s less than 2% of psychopaths.

FWIW, I think his psychopathy is irrelevant to his job performance in my opinion. I was just utilizing it as an example of why he’s good at escaping blame.

Calculating, manipulative, scheming but professional and diplomatic.

 

[LSLS]

Please stop with the 5th gate stuff. Both DHS and DAK still need more attractions to handle the crowds they get now and Epcot could do with a couple of more esp in World Showcase. Also, who is going to staff it. The labor shortage problem isn’t going away. With home insurance and rent prices out of control people can’t afford to live here and car insurance is going up and up too. And you have a state government that is doing absolutely nothing to do deal with it except making sure landlords and insurance companies will be able to screw over consumers even more.
My biggest worry about Epic Universe is where is Universal going to find enough people to run it.

Which is why you already see Universal starting to pay over Disney during labor negotiations. That was FAR from just coincidental.

 

[TheMaxRebo]

If you have kids wait until they are older and can enjoy it more and can be reasoned with about the costs of stuff. I know it's cute taking babies into the park for that photo op with Mickey, but, where are their memories? Plus, having looked after my sister's kids when they were very, very young and taking them out and about it was such a hassle, nappies, feeding and so on, I love them to bits, but, when I finally took them to Disneyland Paris when they were 13, 9 and 6 we had an absolute blast. The cost was more, but, the memories are priceless.

Well, if you take them when under 3 they don't need a ticket so can be some savings there. I think it depends how often you plan to go as to when to first take them.

 

[TheMaxRebo]

Your absolutely right disney can be done on a budget. There are 1000s of people who own time shares that sell their time or like you said cheaper hotel or airbnb. You can also rent houses if you go with another friend/family members and split cost. Uber and lyft to parks. Basically same cost as the 25 parking fee. We took our own food in for years when my kids were in strollers. Packed a cooler bag of drinks and a cooler bag of sandwiches and chips. Then you just buy a few snacks in park if you want. Also another way to save some $ is if you have target red card?? Buy the disney gift cards at target. You get 5% off disney gift cards. Figure out roughly how much money u will spend on vacation at disney places and get that in disney gift cards from target. Free money. I most times get 1000 in Disney gift cards and pay only 950. Or to get to 1000 get the extra 50 dollar gift card. So u now have 1050 for 1000. Disney can be done on a budget if you dont get fooled by a travel agent to stay on property. Even the lowest disney places are expensive now. Always do your homework and research before planning a disney trip. Its definitely doable on a budget.

You definitely can do it on a budget and that is how we often do it (we sort of alternate off-site vs onsite stays).

I do think 5+ years ago a trip was a lot easier though and more things were included and the onsite hotels were more reasonably(especially values). So you could do a more "all inclusive" and easier trip for a more reasonable price. But you can still find ways to save money now, but is more work.

I think the "ease" element is just as important when Iger talks about making visits "more accessible"

 

[Sir_Cliff]

I think you may have misinterpreted what I meant by psychopath. I meant it in the literal sense, not the colloquial sense. It’s protective in c suite positions because they are able to “cut the fat” without any personal sense of responsibility or guilt. They read people well and can figure out what buttons to push and who to befriend to cling the ladder. It’s one of the reasons they can rise in ranks so quickly. I don’t think he’s evil, has malicious intent, or is out to get anyone. He is who he is and his behavior (primarily self serving) will remain consistent with previous behaviors.

Like you said, it is great that he says they need to course correct, so now he needs to do something about it. I’ll be the first person to admit I was wrong. I was happy about the elimination of hotel parking. I don’t complain about objectively good things happening.

Not to toot my own horn. I literally specialize in personality disorders and psychopathy which is why I comment on this stuff. 80-90% of my patients fall into those two categories, except they’re not the nice ones unfortunately. I only see them when their lack of empathy leads them to harm others or get into trouble. That’s less than 2% of psychopaths.

FWIW, I think his psychopathy is irrelevant to his job performance in my opinion. I was just utilizing it as an example of why he’s good at escaping blame.

I will admit that I am not a specialist in these topics nor do I feel I know Iger's personality well enough to comment on what he is like as a person. The reason I responded, though, is that I don't read this kind of comment as particularly scheming or manipulative versus a recognition of the bleeding obvious. That recognition was something Chapek just didn't seem to possess, and in his case there did seem to be a demonstrable lack of empathy at play in his inability to read people and situations. I don't know why that was the case with Chapek, though.

For me, Iger fits into the category of someone who I fully understand why people don't like a lot of his business decisions. On the whole, I don't think he's been good for the parks, for example. Seeing him interviewed (e.g., that Jon Stewart interview from a while back), though, he kind of reads as a reasonable and intelligent person rather than someone who is particularly scheming or manipulative. I think his polish, for example, is over-stated. Maybe that is all part of his act, though . There's no doubt he has a massive ego and is concerned about his image, but then at least the ego part probably comes with rising to those heights. I'm sure that was true of Eisner, Chapek and even dear old Walt.

In general, though, I have always had an instinctively negative reaction to the way in which Disney fans seem to get so personally nasty about particular executives in the company that they don't know. That must have something to do with my personality, though I don't know what!

 

[Sirwalterraleigh]

Granted these things have not been addressed, but they all take time. The average Hollywierd movie takes 4-5 years to produce even though filming is only maybe 1-3 months long. Each of these items has a supporting cost structure and associated budget line items. Tossing out such a large long term strategy and letting everything fall where it may isnt an option. As with a large ocean-going ship, there are no brakes or rapid changes in direction for a large corporation without structural risks. Gradual change is whats in store and Igers next replacement is at the front of the line.

The whole play on Peltz is to get him to commit to leaving. Not fired…but actually go when he says he will.

While you’re correct these things take time…he doesn’t have it. Very obvious game being played here.

But here’s the kicker: he wasn’t good from 2017 on…all these problems creatively and with parks are his decisions. As is overpromising on streaming. It’s just not gonna be there. Not that kind of a money well.

His “comments” fed to the Hollywood reporter yesterday should be ripped apart

It’s the EXACT same thing he said when they ran Star Wars off the rails and it’s just as BS today with marvel.

Don’t believe his hype.

 

[CaptainAmerica]

But not a peep about this outrageous pricing?

Charging $55 for a pin is not outrageous.

Paying $55 for a pin is outrageous.

Not charging $55 for a pin when people are willing to pay $55 for a pin would be outrageous.

 

[Sirwalterraleigh]

Charging $55 for a pin is not outrageous.

Paying $55 for a pin is outrageous.

Not charging $55 for a pin when people are willing to pay $55 for a pin would be outrageous.

The lack of consumer backbone is the real issue…for sure

 

[Sirwalterraleigh]

I don’t think he’s credible. Admittedly, I have no evidence that he will escape blame. My impression is based on how he is perceived now (outside of the Disney community) despite all the stuff you’ve mentioned.

For example, the interview this forum is based on. Nobody is asking “didn’t you originally say that the goal was to price people out to reduce demand? Why the change of heart?”

This is the guy that made basically all the decisions that led them to where they are, yet the board actually sought him out to bring him back on.

My issue with him is he is more of a celebrity than a CEO. He babbles nonsense and wishful thinking to convince people he has a plan, when in reality his plan is now self serving. If you google Bob Iger, you don’t get results connecting him to Disney’s problems. You get results about him saying he’s going to wish the fixes into existence, except the writers are taking him seriously for some reason.

Back to the psychopath (nonviolent) thing. Only the “victims” see psychopaths for who they are… hence why most of us as a community don’t like him.

Now… you’re probably right. Any CEO who sucks this bad would probably get the boot. In reality, he probably will. I’m just a pessimistic person about this whole situation, and when it comes to people of celebrity and politician status, they seem to avoid consequences.

No I got you…

I just don’t think Wall Street is buying his schtick anymore.

Their financials continue to be picked apart In the business/stock circles and the chapek excuse doesn’t seem to be very soothing to the money brokers

 

[Drdcm]

I will admit that I am not a specialist in these topics nor do I feel I know Iger's personality well enough to comment on what he is like as a person. The reason I responded, though, is that I don't read this kind of comment as particularly scheming or manipulative versus a recognition of the bleeding obvious. That recognition was something Chapek just didn't seem to possess, and in his case there did seem to be a demonstrable lack of empathy at play in his inability to read people and situations. I don't know why that was the case with Chapek, though.

For me, Iger fits into the category of someone who I fully understand why people don't like a lot of his business decisions. On the whole, I don't think he's been good for the parks, for example. Seeing him interviewed (e.g., that Jon Stewart interview from a while back), though, he kind of reads as a reasonable and intelligent person rather than someone who is particularly scheming or manipulative. I think his polish, for example, is over-stated. Maybe that is all part of his act, though . There's no doubt he has a massive ego and is concerned about his image, but then at least the ego part probably comes with rising to those heights. I'm sure that was true of Eisner, Chapek and even dear old Walt.

In general, though, I have had an instinctive negative reaction to the way in which Disney fans seem to get so personally nasty about particular executives in the company that they don't know. That must have something to do with my personality, though I don't know what!

I get it. You’re all good, and I agree with you about the constant negativity. My response to you was more pointing out my intentions. I didn’t mean it as an inherently negative thing, just a descriptive term of how he interacts with others and what tends to motivate people like him. I actually think Iger has the capacity to improve things because of his personality. I agree that he is reasonable and intelligent.

Sometimes I find him irritating though. Lol

 

[CaptainAmerica]

The lack of consumer backbone is the real issue…for sure

Tractors is so dumb.