The Walt Disney Company bumped up pricing on select offerings at Disney World and Disneyland this week.
The increases, which went into effect on October 11, vary by the type of ticket and location.
At Disney World in Orlando, Florida, the price of annual passes jumped by $30 to $50, or about 3% to 10%, depending on the selection. Disney's date-based park tickets – which the company says is what most guests purchase – remain unchanged, however.
Disney World prices for parking rose by $5, from $25 to $30, which the company said is “on par with other theme parks in Central Florida.”
At Disneyland in Anaheim, California, the increases were more significant. While the lowest-price option for single-day admission remained the same, all other options increased by $5 to $15, or about 4% to 9%.
Multi-day tickets increased by $25 to $65, or about 8% to 16%, and the park-hopper add-ons to these tickets increased by $5 to $15, or about 8% to 25%. Annual passes increased by $50 to $150, or about 3% to 22%.
Disneyland also increased its rate on parking and its Genie+ add-on by $5.
"We are constantly adding new, innovative attractions and entertainment to our parks and, with our broad array of pricing options, the value of a theme park visit is reflected in the unique experiences that only Disney can offer," a Disney spokesperson said in a statement.
New streaming service prices now in effect
The price rises at the theme parks arrived just one day before Disney's previously announced price hikes on Disney Plus and Hulu went into effect.
Starting October 12, the ad-free Disney Plus plan increased to $13.99 per month, up from $10.99, while Disney Plus with ads remained at $7.99. The cost of Hulu without ads also went up to $17.99 per month from $14.99, while Hulu with ads remained at $7.99.
All the increases follow the company's announcement last month that it plans to double capital expenditures to roughly $60 billion over about 10 years to enhance its parks and cruise line capacity.
“We’re incredibly mindful of the financial underpinning of the company, the need to continue to grow in terms of bottom line, the need to invest wisely so that we’re increasing the returns on invested capital, and the need to maintain a balance sheet, for a variety of reasons,” CEO Bob Iger said at the time. “The company is able to absorb those costs and continue to grow the bottom line and look expansively at how we return value and capital to our shareholders.”
Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
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