Disney park price hikes ‘too aggressive’ CEO Bob Iger admits

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Bob Iger, CEO of The Walt Disney Company Empathized with consumers complaining about the company’s theme park prices.

Iger spoke about the price hike while speaking at the Morgan Stanley Technology, Media & Telecom conference on Thursday disney park Might have been “a little too aggressive”.

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In this handout photo provided by Walt Disney Resort, guests walk down Main Street at Magic Kingdom Park at Walt Disney World Resort on July 11, 2020 in Lake Buena Vista, Florida, USA.

“In our enthusiasm to increase profits, we may have been a little too aggressive about some of our pricing,” Iger said. Los Angeles Times.

“I think there’s a way to continue to drive that business, but be smart about how we do pricing so that we can maintain that brand value of accessibility,” he said.

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Sleeping Beauty Castle

General view of Sleeping Beauty Castle at Disneyland in Anaheim, California.

Disney’s business model of and various forms of entertainment programming has struggled in recent years amid the global pandemic and difficulty churning out steady profits through streaming video.

Iger, 72, is widely considered one of the most successful media executives in the business, overseeing a string of hit programming and generating record profits for investors while expanding. disney’s theme park Global footprint.

The search to replace Iger, who is set to retire again in two years, has officially begun with a shortlist that includes some of the usual suspects and an out-of-the-box candidate from the of sport .

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adam silverThe commissioner of the National Basketball Association is a top candidate to replace Iger as chief executive, according to two people with direct knowledge of the matter.

Fox Business’ Lawrence Richard contributed to this report.