Today marks the release of Disney’s fourth-quarter earnings, and that means we got to hear from some of the top executives during another earnings call!
During the call, we heard updates on the Disney Parks revenue, the subscriber growth for Disney+, theme park attendance growth, and guests’ response to Disney Genie+ (the new way to “skip the line” at popular attractions). And, in the question and answer portion of the call, we also got some insight into how Disney may look to further cut costs as inflation continues to be a growing concern in the U.S.
Disney Chief Financial Officer Christine McCarthy was asked about how the Walt Disney Company plans to mitigate inflation in the coming months and year. And, in response, McCarthy shared some insight on what options the company is looking at.
More specifically, McCarthy said, “There are lots of things that are worth talking about. We can adjust suppliers. We can substitute products. We can cut portion size which is probably good for some people’s waistlines. We can look at pricing where necessary. We aren’t going to go just straight across and increase prices.”
Additionally, she shared that Disney wants to “get the algorithm right to cut where we can and not necessarily do things the same way.” So far, this has included “producing technology to [reduce] some of the operating cost.”
This comes as many guests have been criticizing Disney for increasing many costs throughout the parks and resorts while still bringing operations up to their full pre-pandemic levels.
So far, Disney has not shared that any of these cost-cutting methods have been implemented throughout the parks, but we’ll keep an eye out for more updates. And, in the meantime, be sure to stay tuned to AllEars for the latest Disney news and updates!
Check out Disney’s Approach to Upcoming Theater Releases HERE!
Join the AllEars.net Newsletter to stay on top of ALL the breaking Disney News! You'll also get access to AllEars tips, reviews, trivia, and MORE! Click here to Subscribe!
The food quality at counterservices is not that good. Pizza Rizzo is selling DiGiorno pizzas. My sister saw the delivery truck. We have to splurge to get something good (Be Our Guest). When EPCOT has their festivals with food booths, I watch Molly’s videos on the food. A lot of times it isn’t good or not worth the high prices, or Molly may talk about how a country’s booth was last year. Now, Disney is cutting portions of bad food with same prices. Great, can’t wait to get there.
Disney continues to make their parks less affordable for the average person. I guess they are counting on the 1% to be all they need for guests. The entrance sign should say “The Happiest Place on Earth for the Rich”
Yes one can certainly purchase what one wants no doubt, but also realize John is just one of those guys that likes the feeling of how far the mouse can shove his foot up his ass! Makes him feel important!
Agree
I am glad the portion sizes might go smaller. I can get in a two hour wait line faster now by not spending so much time in a restaurant. I guess the tips will be getting smaller since my algorithm says that I can use the tip money for Genie+ and parking. No more tipping at Disney would start a great labor uproar and possibly a strike for better pay.
They should really up the recent food quality first. This years trip has consisted of what has tasted like microwaved food at fine dining (California Grill, Yachtsman), cold under the heat lamp for hours food from food and wine. Our best food was the charcuterie tray at HS and a sandwich from Earl of Sandwich. I know the pandemic has affected everything but offer some $ and get back some of your real chefs!
wait, is the Yachtsman back open!?!? That would be awesome! 🙂
I can’t believe a CFO would make that comment on a public earnings call.
The waistline comment is incredibly obnoxious
Thanks for the photo of Chapek’s smug grinning mug. I am going to print it out and put it on my punching bag for incentive.
Good grief, an algorithm? That’s what the “Happiest Place on Earth” has come down to, an algorithm? Last time I checked, what is the algorithm for happiness and doing the impossible? If anyone has that, please let me know!
Cutting portion sizes on already overpriced food is ridiculous. I will be visiting Universal Orlando instead.
I don’t even have words. Well, yes I do. It’s gotten to the point where we have been sharing meals just to be able to still go. Aaaand now even THAT is going to be out. I’ve followed this website daily for as long as I can remember. Way back in the early 2000’s when Deb Wills posted every few days or so. I have gone from an avid Disney lover to a bitter, hater of most things Disney because of the insane price gouging. They make BILLIONS and they talk about cutting any and everything that made going worthwhile! The thing that I hate most is that people just keep right on going and sending the message that Disney can do anything they want to us and we’ll throw our money at them. There is no end to this. I’m so glad I got to go many many times over the last 25 years, and Disneyland before that. No matter what I do to try and make a Disney trip workable, they do something that sends the message that they just do NOT want me there. Thankfully, Universal hasn’t done that yet, but I don’t hold out much hope that they won’t follow suit.
Since you brought me up, I’ll offer a response (“me” being those that “keep right on going…throwing money…etc”). I will spend my money any way I please on whatever I please. Just because you have reached your breaking point does not mean tens of millions of other disney fans have. You are, like, complaining that you keep getting outbid on an auction site for something you want. Obviously someone wants it more than you if you keep getting outbid. Or, you need to recalibrate what it’s real world worth is. Disney is worth whatever a full park will tolerate. There might come a time where we reach our breaking point too. When that time comes, we’ll take more cruises, go to more national parks, etc. I certainly won’t be online telling everyone how stupid they are for still throwing money at disney. I don’t throw money at disney and they aren’t forcibly taking it…I am willingly cutting a 10g+ check. Please don’t lecture on how the good Ole days were. We don’t live there.
John, since you voluntarily entered this message arena, I will offer my simple response. If you are taking a family of 4 for 10g+, I’m assuming your “+” is another 5-6g’s, or maybe you are simply trolling everyone here to enrage them and don’t really know what a Disney trip costs these days. I know from my families long experience of almost 40 trips, typically 7 days, on property, It takes $15,000 minimum to buy the same week that I started out 16 years ago buying for $3,000. I still have paperwork that proves this statement and I don’t believe there is any way to justify that amount of inflation. We won’t even discuss the loss of perks over that time. There is a huge group of loyal Disney fans, like myself, who feel betrayed by Disney. This group stood by Disney throughout some tough times. Many of us helped fill the parks during off peak periods in the days before all this “mailbox money” started being sent out by the government. We may have been fools to live, breath, and eat Disney, but it made our families happy. It has never been a cheap destination, but it used to be “doable” for most modest income families and we realized it was worth the dollars spent. Sad thing is, most of us were not demanding any of this “latest, greatest” technology filled rides being built today. We were perfectly content with what Walt dreamed and his brother Roy built for families to enjoy. Disney let us down by not continuing to grow by building additional capacity with at least another park. Instead they opted to crowd more new business in the same space and then run prices up in the name of “thinning the crowds”. It’s a money grab and my money is betting they will live to regret turning their backs on those who really helped support the park in it’s first 50 years. In closing, John, I hope someday you can realize how your arrogance is not appreciated here. You represent everything Walt did not want a family to experience.
My sentiments exactly!
No doubt the pandemic has reduced revenue for Disney. Rather than look only at charging customers (we are no longer guests) more while delivering less, they should look how Disney executive are compensated. Cuts there would not discourage park attendance.
Park attendance needs discouraged. Hardly anyone seems to get that point. More people want in than can be pleasantly accommodated. People say “well that’s it, I’m done” like they are giving a data point of a negative result…that is actually a positive data point. You gotta price enough out to make it a better experience for those who still want to and/or can go. Would you mows lawns for 10bucks a pop if you had enough demand to charge 20? Goodness gracious this isn’t hard.
DISNEY IS NOT WHAT WALT WANTED ANYMORE.
DEPRESSING STATE IT IS IN
SO MANY EXCUSES FROM THEM….
BYE
BYE
WALT
DISNEY
WORLD
Depressing state…? Most visited theme parks in the world combined with the most cutting edge rides and always at the knifes edge of innovation…and don’t even get me started on invoking the name of a dead person who has been dead for over 50 years.
2.5 hour waits for attractions were not part of Walt’s “vision” either, yet here we are. I’m all for most of these changes if it means when I go every 2-3 years that the parks are not at capacity. And yeah, I’d pay a premium for that.
I have been contemplating not renewing my annual pass. Well WDW has just made the decision for me. I am done with all the Disney money sucking from my wallet. I will not renew annual pass and will not be returning to WDW.
When will they realize the mask mandate for transportation and indoors needs to go? How foolish to have crowds watching fireworks so close, but they can’t be indoors next to their family without one. It is unfortunate the new Disney executives are lacking in the common sense department. If it wasn’t for my youngest two year old grandchild, I would accept they don’t care about the fans that helped the company grow and move on. I just think it is a disgrace they are making so many negative changes and ruining the brand for future generations. Time to sell the stock!!!!!!!!!