Some recall their parents complaining how expensive WDW used to be back in the early days. However, up until Michael Eisner and Frank Wells took over in 1984, the Disney CEO (Roy Disney, Donn Tatum, Card Walker, and then Ron Miller) genuinely resisted WDW price increases. They constantly fretted about what the public thought of Disney and followed Walt Disney's philosophy of providing outstanding customer value.
The reason I gave WDW a perfect score of '100' from 1982 to 1984 is that these were the years that WDW offered the best value. The period includes Disney's single largest investment ever, an unwavering commitment to customer satisfaction, and WDW's lowest prices relative to household income.
Those who think Disney is just as good today simply haven't experienced the old WDW or haven't analyzed the numbers the way I have.
When it opened in 1982, Epcot was unlike anything else on the planet, the company's greatest achievement since the opening of Disneyland in 1955, greater than the Magic Kingdom, which essentially was a copy of the original Disneyland.
Epcot cost more than 100% of company-wide annual income; it became The Walt Disney Company's single biggest investment ever. I remember Wall Street complaining bitterly about its cost but, more than 30 years later, Epcot continues to be a money-making machine for the company.
The Magic Kingdom and Epcot were about one-third less crowded than they are today. Yes, summer and Christmas were busy, but the rest of the year generally was not. Wait times were much shorter. I used to walk on many rides when I visited (typically May).
Back in WDW's Golden Age, broken and worn items were replaced immediately. My favorite personal example is what I call the "bench incident".
I was at the central hub at the Magic Kingdom in the early 1980s with friends and noticed a bench with chipped paint on one arm. We joked about it for the rest of the day. We even took a photo. Wouldn't you know it, we came back the next day and the chip was fixed to the point that we couldn't see where the chip had been! That was the level of maintenance WDW provided to its guests.
Up until 1984, even the
most expensive room at the Contemporary or the Polynesian cost today's equivalent of about $250/night. $250/night is not cheap but in pales in comparison to today's prices, which start at over $500/night for the
least expensive room.
A 3-day hopper (including tax) cost $35 in 1983, today's equivalent of $88. Today's 3-day hopper costs a jaw-dropping $394.
I haven't updated the below graph in a few years but it shows what has happened to WDW ticket prices relative to household income, using an adjusted baseline value of '1' for both in 1971:
View attachment 273709
(Note the Y-axis does not have a units; it's simply looking at relative changes to WDW ticket prices and household income.)
What this graph reveals is 3 ticket price eras at WDW.
The first is what I call the
Walt Disney Legacy Era when ticket prices were relatively inexpensive. Walt Disney always emphasized to his subordinates that the company needed to provide its Guests with "good value". This pricing philosophy remained in place until Eisner took charge. Some who recall the time from their youths might have thought WDW was expensive but, relative to income, WDW was never less expensive. (I was able to afford a 3-day WDW vacation even though I was a lifeguard making a few dimes above minimum wage.)
The second is the
Michael Eisner Era when ticket prices quickly increased by roughly 50% compared to Median Household Income and then held relatively steady for 15 years. There was a strong opinion in the industry in the mid-1980s that Disney theme park tickets were underpriced, and so the competition was relieved when Eisner hiked prices, even if WDW fans were furious. (And I was one of them!)
The third is the
Paul Pressler/Jay Rasulo Era when price increases began a steady climb faster than household income. This era is dominated by a more analytical approach to pricing. "What's the biggest price increase we can get away with?"
This is the era we are in today.
I gave WDW a score of '87' for 2017, it's still a fun place to visit, but in terms of value, today's WDW is a far cry from what it once was.