Walt Disney Co. Chief Executive Bob Iger acknowledges his company goofed on some of its pricing strategies on Disney+ and its theme parks.
Walt Disney Co. Chief Executive Bob Iger acknowledges his company goofed on some of its pricing strategies.
Speaking at the Morgan Stanley Technology, Media and Telecom Conference on Thursday, Iger admitted that Disney’s pursuit of higher profits at its sprawling theme parks — and its initial bargain-basement subscription fee for streaming service Disney+ — had negative consequences for the Burbank entertainment giant.
In particular, price hikes at Disney’s parks backfired because it made a day at Disneyland and Walt Disney World in Florida a less happy experience for visitors, including some of its most cherished fans. The company has“In our zeal to grow profits, we may have been a little bit too aggressive about some of our pricing,” Iger said. “I think there’s a way to continue to grow that business, but be smarter about how we price so that we maintain that brand value of accessibility.
He has also said there are no conversations about selling or spinning off ESPN. On Thursday, he said the company has an “open mind” about ESPN’s future, but remains bullish.
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