I'm going to repost something I posted on another site's forum about monetizing fastpass. I think it applies to this conversation as well.
"This is about making money. And before we hate on Chapek for doing this (and trust me I HATE THIS), we're really all to blame, not him. Two points.
First, I don't think Disney should
only pursue $$$$. They *should* pursue money to some extent -- it's a private business after all. But I think it's fair for us to say that as between "6 Bentleys" or "5 Bentleys plus preserving the Disney Magic" the second is the better choice. In other words, you can make a
ton of money and still preserve what makes Disney special.
Unfortunately and sadly, as far as I understand it, "maximize profit and the legacy be damned" is a natural result of the way our system is set up. Look, I'm a free market capitalist. It's the best system, IMO. But like all systems, it has flaws. One of the flaws is exactly what we see here. We may hate Chapek, but what is he supposed to do? If he can bring in more $$$ the shareholders keep him. If not, he's out. If he says, "I'm leaving money on the table to preserve magic," he'll be out in a hot minute.
And who are these evil shareholders making these demands? Largely you and me. When I go talk to my financial planner, I get whiny and angry if my stock portfolio is down and happy when it's up. (FWIW, this is a hypothetical portfolio
) So my hypothetical financial planner moves my money to where I get a better return, because that's what I demand, and it's what you demand, too.
So we're effectively, all of us, telling Chapek to maximize profits. When you look for a return on your 401k, are you really asking about whether ACME, Inc. in Bubaville, Indiana is upholding its founders dedication to preserving beaver habitats? Nope. You're asking "why is my stock portfolio down this month?" And if the answer is "ACME stock is down" you say "sell the ACME" and ACME's CEO gets the message loud and clear - forget the beavers, maximize the profits.
So while we're all correct in saying that Bob Chapek can make a ton while also preserving what we most value about Disney, ultimately Chapek is doing what the system demands, and it's a system we all participate in and create.
Which brings me to my second point - short term thinking. Our system isn't set up to reward long-term thinking. I think monetizing Fastpass stinks. I think it sends the wrong message, creates even more marked tiers of guests, and really ruins some of the egalitarian magic that we can at least pretend to have inside the parks. Over the long term, I think that degrades the experience and will make Disney less profitable than it could have been.
But long-term thinking is a really hard thing for a CEO to do when he or she will be judged on profits earned in the next quarter or year. Can Iger or Chapek plant trees that will bear fruit in 20 years? Not if they want a job. They can probably push for mid-term thinking - a few years down the road. But really making subtle, subjective choices to "preserve the magic" for decades-long improvement in profits simply makes no sense. Instead, the incentive (as explained above) is to chop down trees, sell the wood, and make a good profit this quarter.
As far as I can see, that's kind of the nature of publicly traded companies. Private companies can think long-term. Make investments for the grandkids. Disneyland was created a few years *before* Disney went public. Could that vision have been created otherwise? I have my doubts.
From a fan perspective, I hate monetized fastpass. Hate it.
But unless we go back to a pre-publicly traded Disney that can really be a family or one-man vision, this is the way it's going to be, for better or worse.
This all stinks, of course. Private parties and deluxe resorts and expensive character meals are all things I can live with because the core Disney product is still open to everyone who is able to get into the park (which to be clear, is nowhere near everyone). But I felt slimey paying for express pass at Universal and I'd feel slimey (and impoverished) paying for it at Disney."
