Magic, candy floss, and laughter! For many people a visit to a Disney resort is an annual tradition; and so are price hikes for the Walt Disney Company.
The Magic Of Money Is Real... But Isn't Disney Going Too Far?
Price hikes at both Walt Disney World and Disneyland are pretty scary. Take Disneyland in Anaheim, California, for example. The prices of parking, accommodation, and other basics have skyrocketed. According to Walt Disney World News Today, prices for peak-admission, single-day tickets jumped 10% to $149, while one-day park hopper tickets reached $200. Annual pass holders are also affected as some passes have jumped to $2,000. To make things more complicated, the old three-tier system has changed to a five-tier system, with one-day tickets varying between $159 and $209. Disneyland - the Happiest Place on Earth - will lighten your wallet fast. But can money buy you happiness?
Walt Disney World Resort in Florida has also increased its prices. To provide an example, Disney Platinum Plus Pass increased from $1,219 to $1,295, as reported by MSN. Disney World - the Most Magical Place on Earth - has simply mastered some interesting magic tricks with coins and bills.
Times Are Changing
But let’s talk about the magic of everyday life. From cable TV to theme parks, prices of virtually everything could go up by the end of 2020. Simply magical! Black magic! While transportation costs, international regulations, and oil prices play a crucial role in today’s economy, the truth is that consumption patterns also affect costs across the globe.
Although Walt Disney intended Disneyland, opened in 1955, to be a special place for adults and their children, now Disney’s marketing force is trying to reach different age groups, working mainly through nostalgia and fantasy. Interestingly, Disneyland and Disney World are no longer family-friendly theme parks; according to data, millennials without kids make up the largest group of visitors. While some parents say that adults without children should be banned, the truth is that the whole world is changing, with millennials continuing to drive marketing strategies and consumer demand. No surprise Disney offers millennial-themed sweets, places for magical Insta shots, and pink Minnie Mouse ears.
Demand, Supply & Equilibrium
While millennial consumer engagement influences marketing strategies worldwide, it’s the mighty dollar that makes the world spin. The interaction of supply and demand is mind-blowing. The truth is that no matter how expensive tickets are, both Disney World and Disneyland keep attracting millions of visitors every year. Disney World, opened in 1971, is the most popular theme park in the world, with more than 17 million visitors, as per Travel + Leisure.
Disney’s force expands beyond theme parks, castles, and Mickey-shaped pretzels, though. Disney+, for example, targets different age groups; according to reuters.com, marketers are planning to hook mainly adults without kids. The company now owns the Star Wars movie franchise, numerous Marvel superheroes, and even National Geographic. While Walt Disney’s initial plan was to build a Utopian city - the Experimental Prototype Community of Tomorrow (Epcot) - Disney built an empire.
Crowd Control Matters
While it’s true that price hikes can backfire, the Walt Disney Company claims that prices aim to address large crowds. We should note that during peak seasons, wait times can be hideous, especially for kids and people with health issues. No surprise there’s a variety of date and time-specific ticket pricing options; as Disneyland Resort representative Liz Jaeger said, "We continue to provide our guests with a variety of ticket offerings to meet their needs, while helping us to spread visitation, better manage demand, and deliver a great experience."
On the other hand, Disney keeps attracting more and more people by opening more and more attractions. From Star Wars: Galaxy's Edge to Toy Story Land, the Walt Disney Company spends billions on renovations and upgrades, which results in loyal customers and high revenue.
There Is Only One Mickey
Despite the rising ticket prices, Disney continues to grow. We should mention that there are six Disney resorts across the globe with a total of twelve parks: Disney World, Florida (Magic Kingdom, Epcot, Animal Kingdom, Hollywood Studios, as well as Typhoon Lagoon and Blizzard Beach), Disneyland, California (Disneyland and California Adventure), Disneyland Paris, Tokyo Disney Resort, Hong Kong Disneyland Resort, and Shanghai Disney Resort. While attractions vary, all parks have a curious history, thrilling rides, colorful shows, family-friendly restaurants, and so on and on.
For people who can’t afford a Disney vacation, however, there are different alternatives. Although there’s only one Mickey - Six Flags in North America, Europa Park in Germany, Ferrari World in Dubai, and Tivoli in Denmark are some of the exciting theme parks that can offer you an amazing experience. In the end, magic is everywhere!