In today’s quarterly earnings call, Bob Chapek answered a question about the new Disneyland “membership” program that will replace annual passes, which were discontinued and cancelled earlier this year.
In answering the question, Chapek avoided using the annual pass term for the replacement program, referring to it as a “park loyalty and affinity program” and “frequent visitor program”.
Chapek also stated that the per guest spending across the Disneyland Resort Annual Passholders was inconsistent, and the new program aimed to “get an adequate return to our shareholders for the type of experience that we do give to our guests”.
Essentially, Chapek and the company feel that the old program was offering too much at an inadequate price point, and also that spending at times was not strong enough amongst these guests.
This would indicate that the new programs will have guests paying more money for less days of access (and maybe even lesser benefits), although it remains to be seen what all of this will look once it is actually announced.
Disneyland Resort President Ken Potrock stated that the program will launch before the end of 2021.
Sounds about right.
Forget the loyal customers and fans but appease the stockholders. They are the most important of all.
This big emphasis on shareholders over customers does not sit well with me one bit. He’s not even going to sugar coat it for us. CEOs are angry that a pandemic cut into their bottom line, now they need to milk what base they have.
Passes were going away pre covid. This was just an easier way to start fresh. Im ok with it.
It is a business and not a fantasy. I’m ok with it. The parks were too crowded, Many people felt entitled because they were passholders and acted if the park was theirs. There were even Disney “gangs” inside the park. They didn’t carry weapons but were known to push their way and cause problems. Parks were above crowded andess and less enjoyable. I love having the reservation and hope they keep it. Bring it back to the relaxing enjoyable days.
Figured Disney would make this move. Let’s see how these new “passes” will turn out. Might just be a single day holder. Or maybe I won’t go at all.
With their new loyalty programs I’ll give them the loyalty they deserve and give my money to other people
It’s amazing that dopey Bob is destroying in 2 years what it took Eisner and Over decades to build.
Impressive.
In this end this will be a huge success.
I hate it, but the fans will happily pay.
So sharehder returns are the key and not guest value! This Chapek guy is going to destroy Disney. You will continue to pay more and more and get less and less.
Some passholders may go away but Disney won’t be hurting for guests. Disney World hotels are at max capacity that they are opening more up. Once international travel can start again the money will flow. I personally am happy of the change.
Disney World still has their annual passes in effect too.
How much money can they try to squeeze out of people good lord Bob. It’s already 100-150 a day just to come in the parks plus the crazy food prices. Tell your shareholders they can make a little less and live off the millions they already have in the bank. Give back a little to the people that put those millions in your banks greedy asshats. Universal studios builds rides faster theming is great and are currently building a third park bob better watch it or universal will steal more of the market share.
I like how Bob Chapek is practically Gilbert Huph from Insuricare from the Incredibles. “We’re supposed to help OUR people, starting with our stockholders, Bob. Who’s helping them out, huh?!”
As a yearly visitor I welcome the change. Fewer people in the parks means a better experience for everyone.
I hope this blows up in their face. Yes I understand how crowded it was etc but the Mouse has been getting greedier and greedier. It won’t matter, people will stay pay. I will enjoy my Universal and Knott’s APs that we recently purchased.
so this means all dvc owners automatically get memberships, right? you know bob, the same owners who were totally ignored during the “covid crisis”? the same members paying for the building and upkeep of your resorts.
i wonder if bob will drop being so “woke” at the cost of the shareholders?
How sad the greed being exhibited by the multimillionaires running Disney. Any excuse to jack up the cost of admission, food or souvenirs, making it less affordable. Blaming it on those who love and cherish their time at Disney Parks is wrong.
Legally, the shareholders can sue Bob for breach of fiduciary duty for making decisions that would in any way decrease the returns to the shareholders. Business law is clear on that – your duty is to the shareholders above all else, period. If he wouldn’t do what the law demands of him and make decisions that brought the highest return to his investors, they’d just replace him with someone who did. It’s not pretty or magical, but that is business. If you don’t like it, and I’m not saying you should, you, as the consumer, have the prerogative to take your money elsewhere, but Chapek or anyone else in that position, does not have the authority to make decisions that would please customers over shareholders if it would decrease returns he’s legally required to maximize for them.
Side note, I am an AP and am disappointed that this is the way it is too, just want to provide context in the event it is helpful for any other let down fans.
Well, that all sounds nice and tidy but Disneyland was a place that was created by Walt Disney as a place of fantasy and fun, to leave the real world behind even if just for a day with music, food, wonderful smells, rides with themes, beautiful landscaping and design for the people that would enjoy such a place. In short, it was created for people, not shareholders. Most of the CEO’s that have been put at the helm of Disneyland had the same vision and desire to carry on the legend of Disneyland.
Obviously, Disney has grown, has brought on shareholders for cash flow, and hired staff to maintain a healthy bottom line but when it crosses over to “only the shareholders’ matter” and customers will just have to suck it up so to speak, well, Bob is not a Disney person. He’s a numbers person and doesn’t really care if you are a happy customer or not. Basically, he would rather have 50% less capacity and charge double for those that can afford it. Walt Disney created a land for everyone to enjoy, Bob is changing the land for those affluent enough to afford outrageous prices. It’s really sad.
I have enjoyed Disneyland and California Adventure for many years and have been an AP holder myself and my family for the last 15 years. It’s sad that it has finally crashed into the corporate world as a money maker and nothing more. Good Job Bob. Let’s see how long you last…..