Price Increases at Walt Disney World Park
One Day ticket prices for Magic Kingdom theme park at Disney World, in Orlando, Florida will see price increases by $4, to $99 which is around £59.50. The park is the busiest and most visited theme park in the world. Figures for 2012 show that there was more than 17 million visitors to the park, making it one of its busiest years. Disney have also added the same increase to their other Disney World parks; Epcot and Hollywood Studios. Although the company is seeing surging revenue, the recent introduction of wireless bracelet system called MyMagic+ has cost them, with the price increase reflecting this.
The new high-tech wristband-based ticketing and ride reservation system, cost them $1.5 billion to roll out and allows visitors to use it across the parks covering entry tickets, hotel room keys and credit cards, with a simple swipe system at the glowing mouse points. The MagicBands as they are known, allow visitors to make reservations for individual rides, prior to arrival, from the comfort of your own home. The MyMagic+ has been in development for over five years, the plan is for Disney to recoup the cost of the bands, by encouraging guests to spend more on extra items, such as food and souvenirs. They hope as gusts can cut down queuing time and the experience at the park is made easy they will be more likely to spend more.
Disney has reported surging revenues from its theme park businesses, overall there was a 6% increase in revenue, and in 2013 they made $3.6bn. This was attributed to, according to Disney “primarily due to increased guest spending at our domestic parks and resorts, which reflected higher average ticket prices and food, beverage and merchandise spending.”
Disney is currently expanding it parks, the soon to be completed New Fantasyland expansion in the Magic Kingdom the Seven Dwarfs Mine Train should be completed by the peak summer time. They have also been refurbishing a number of areas and rides giving the areas of the park a bit of a much needed makeover plus announcing more Star Wars weekends this year.