Is Disney World losing its luster?

The “happiest place on Earth” may be losing its luster after Disney raised some prices at its U.S. parks last year, according to The Wall Street Journal. Wait times for rides, an indicator of crowd size, has fallen this summer at both Disney World in Florida and Disneyland in California.



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According to the study, 92.6% of those surveyed believed the cost of a Disney World vacation is out of reach for an average family. Additionally, 68.3% of people said increases made it feel like the theme park has lost all its magic.

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How are Disney parks doing financially? As of Q2 of FY 2023, things were looking up for the parks, but the revenues for Disney Parks, Experiences, and Products for that quarter (Q2 of FY 2023) did increase by 17%.

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Disney World's crowds are getting smaller, signaling that the high entry costs to the theme park as well as competition from other destinations may be taking a toll on attendance, Wall Street Journal reporter Jacob Passy told CBS News.

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Starting on January 9, 2024, you can visit any theme park without a reservation as long as you have a date-based ticket. A date-based ticket is the standard ticket option and means you've purchased park passes for a specific time frame (whether it's tickets alone or part of a vacation package).

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From the addition of new added costs like Genie+, which replaced the previously free FastPass, to a massive across-the-board price increase on everything at both Disneyland and Walt Disney World, prices continue to escalate. As it turns out, even Disney CEO Bob Iger thinks that the parks are getting too expensive.

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With costs so high, it's no wonder why many families find it difficult to afford a Disney vacation. A recent LendingTree survey found that 18% of Disney visitors have gone into debt for one or more of their trips to the destination. And among those with Disney debt, 8% say it will take more than a year to pay it off.

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Disney+ has been losing customers to price increases expects to fall tens of millions of subscribers short of its last publicly stated 2024 target for the Disney+ streaming service, according to people familiar with the matter.

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