Today during the Disney Q2 FY21 earnings call, Disney CEO Bob Chapek commented on the highly-anticipated replacement for the Disney Parks Annual Passport programs. Spoiler alert: it’s not about making things cheaper!
A general trend for Chapek during the call was about making decisions for the company that add shareholder value. To that end, he said today that Disney hasn’t even scratched the surface with returning investment on park visitorship. He noted that the COVID closures allowed Disney to axe the Annual Pass program at Disneyland Resort and create the opportunity to re-evaluate exactly how they could structure “Park Loyalty” or “Frequent Visitor” affinity programs that aren’t “necessarily governed by Legacy.”
He candidly shared that spending from Annual Passholders has long been “one of the levers that we use to grow yield over the past several years” and that spending patterns are wildly different depending on the tickets or pass levels that guests use to enter the parks.
Similar to comments made by Disneyland Resort president Ken Potrock, Chapek indicated the goal to increase revenues is also couples with the idea of improving guest experience and making sure that “guests have a tremendous experience no matter what day of the year they come.”