Not So Magical: Disney’s Ticket Prices Are Increasing
The Walt Disney Co. (NYSE:DIS) just made it a little more expensive to make your kids’ dreams come true. CNN reported Monday that the company raised its ticket prices for passes to its theme parks over the weekend. A one-day ticket to the Magic Kingdom for visitors ages 10 and up now costs $99, reflecting a $4 increase from its previous price. Prices for one-day tickets at Epcot, Animal Kingdom, and Hollywood Studios also increased $4 from $90 to $94.
This is now the second time in a year Disney has risen the fares on the one-day passes to its highly visited theme parks, but as much as the company has been criticized for its price increases, other onlookers say visitors can’t blame Disney. According to the law of supply and demand, Disney has the ability to increase prices as high as it wants as long as the public continues to show up and pay up, and thus far, they’ve showed a willingness to do so. Deb Wills, editor-in-chief of AllEars.net, an unofficial Disney planning and fan site, explained via CNN, “Attendance is going up, not down; so as long as people keep paying the prices, Disney (any business) will keep raising them.”
The Magic Kingdom is now the most expensive park to visit at Disney, but visitors are offered the opportunity to purchase multi-day passes, which can decrease the daily cost of visiting the parks. Walt Disney spokespeople maintain that many consumers choose to select multi-day tickets for additional savings, and then both parties win, because Disney reaps the benefits of extended (pricey) visits, and visitors get to realize some savings.