The Walt Disney Company has certainly changed in the last few years.
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No one knows that better than CEO Bob Iger, who returned to Disney in November 2022 after previously retiring from the position. The 100th Anniversary celebration is underway, and new restaurants and resort expansions have been announced. But, Disney is also in the middle of a few lawsuits and ongoing battles in Florida. It was recently announced that Iger would stay on as CEO through 2026 so we’ve got quite a few years more with Iger at the helm. But what is Iger’s take on the sometimes surprisingly low crowds seen in the Disney World theme parks lately and the future of the parks business? Is he worried? We have an answer.
Disney CEO Bob Iger spoke with CNBC’s David Faber on “Squawk Box” on Thursday, July 13th, and shared plenty of insight into The Walt Disney Company and various parts of its business including ESPN, linear networks, and more.
For now, let’s focus on what Iger had to say about the parks!
An Empty Disney World
First up, let’s tackle some of those surprisingly low crowds we’ve seen in Disney World lately. Take the Fourth of July for example. We saw some bigger crowds arriving a few days ahead of the holiday itself, but when the 4th of July date rolled around things were…interesting. While there were certainly some heavier crowds at the Transportation and Ticket Center (Magic Kingdom parking lot) and some other spots…
Main Street U.S.A. crowds
…crowds in other areas weren’t nearly as bad. And at around 10AM, Seven Dwarfs Mine Train only had a 65-minute wait.
Crowds are light over here!
In EPCOT, there was again a higher level of crowds in some places, but other spots felt VERY empty.
Things are really calm over here
We saw something similar over Memorial Day Weekend — another time when you might expect huge crowds. Certain areas of the parks felt very packed while others weren’t too bad and overall were fairly comparable to the levels we had seen earlier in the month.
Monorail line
We’ve shared that this summer could be EMPTY at Disney World for a variety of reasons. One aspect is the lower crowd levels we’ve seen, but there are other clues pointing to an emptier summer too like a LARGE amount of discounts being offered for the hotels, continued Annual Pass availability, a large amount of Park Pass availability, and statements from Disney’s own former CFO indicating that they expected an unfavorable outcome at the parks in the second half of the fiscal year now that the 50th Anniversary has ended which could impact demand.
But is Bob Iger worried about the situation? It seems not.
During the CNBC interview, Iger shared that, in his view, a few things have changed over the past year that could be impacting Disney World’s attendance levels. Specifically, he noted that Florida opened up pretty early during the COVID-19 pandemic which created a huge demand.
According to Iger, in 2022 there wasn’t nearly as much competition in terms of where people could vacation to compared to today. He indicated that because there’s more competition today, that could be factoring into changes in crowd levels that might be observed.
Disney Crowds
He also noted that Disney tracks hotel tax revenue and that there are counties in Florida where the hotel tax revenue has been down by 6-7% lately. In fact, the Orlando Business Journal recently reported that the Orange County tourist development tax collection dropped for the second consecutive month recently. That drop does seem to reflect some “cooldowns” in “local hotel occupancy.” It seems Iger could be indicating that a drop in some vacationing in the Florida area is a problem that expands beyond just Disney.
Iger also said that Disney is aware of the discounts being offered by its competitors — another thing that could be impacting the situation. But overall, his view is that pricing is not impacting things. In fact, he specifically said, “Pricing is not an issue.”
Annual Pass
Ultimately, Iger was asked whether he’s concerned about a significant decline in attendance to which he responded that he’s not worried about it at all. He shared, “We’re not wringing our hands over it.” He also noted that Disney does NOT have “long-term concerns” about the parks business.
Disney World Theme Park Ticket Cards
Could political matters be impacting the willingness of some guests to visit Florida? Iger discussed Disney’s ongoing battles with DeSantis during another part of the interview but said that he believes the parks’ near-term issues have nothing to do with politics.
Disney World Crowds Have Gotten Unpredictable. Here’s How To Make That Not Matter.
“Turbo-Charge” Growth in the Parks Business
So what about the future of the parks business? Well, Iger seems VERY positive. He said it is actually one part of the Walt Disney Company he has huge optimism about. He noted that the investments they’ve made in the parks are really paying off today, and cited Shanghai Disneyland and Star Wars: Galaxy’s Edge as examples of that.
He noted that he really believes in the future of that business and believes there are opportunities to “turbo-charge” growth in the parks side of the business.
Star Wars: Galaxy’s Edge
Could that “growth” in the business come in the form of new investments that bring new rides or lands to the parks? It’s possible. We have seen Disney announcing some projects for the parks lately like an expansion at Disney California Adventure Park’s Avengers Campus, a Figment meet-and-greet in EPCOT, and more.
But some announcements have been unconfirmed “teases” of what may come to the parks in the future — like a potential expansion at Magic Kingdom or a possible re-theme of Dinoland, USA in Animal Kingdom. Some Disney fans may feel eager for more CONFIRMED news of changes coming to the parks, particularly Walt Disney World.
Possible Land Expansion in Magic Kingdom
So what could Disney do to “turbo-charge” growth in the parks, particularly over at Disney World, soon? We’ll have to wait and find out.
Click here to see the opening timelines Disney has confirmed for several MAJOR projects
We’ll continue to be on the hunt for more news about Bob Iger and The Walt Disney Company. The Q3 2023 earnings call will take place on Wednesday, August 9th, at 4:30PM ET, and we’ll be sharing all the news from that call. So stay tuned to DFB for the latest Disney news and more!
Click here to see 10 controversial things Iger has said about Disney’s alleged “Woke Agenda”
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Consider what you wrote: “7 Dwarfs Mine ride ONLY had a 65 minute wait.” That’s a long wait.
In the grand scheme of things, that’s a short wait for that particular ride. It’s usually around a 120 minute wait when I go.
I think holiday weekends are blocked out for many passholders. The wait times are consistently 45-75 minutes across MANY rides, which just means Genie+ is working to spread out the crowds. I’m not sure where anyone is getting “low crowds” but wait times and hotel availability is telling me that WDW is NOT empty this summer.
I agree with Marcus that 65 minutes is still a really long wait. I never go on rides with more than a 15 minute.
In terms of parks, the biggest issue is all of the things that have been taken away. Specifically relating to the Epcot Food Festivals. Too many subtractions and no additions. Bad recipe right there.
Iger is correct about the excessive heat and humidity this year. Record temps are being recorded daily here in mid-Florida in the middle of July.
We seasoned passholders went twice in mid-June and experienced healthy crowds despite the miserable heat.
However, last week we cancelled our 75-mile one way drive to the parks when a friend, already there at 11 AM, informed us she was leaving due to the misery of weather.
So we wisely did not go to the parks that day. That’s two regulars who stayed away specifically BECAUSE of the heat and humidity.
And that’s the way it is, no matter the silly “woke-ism” carping going on from the boring right-wingers.
We just got back last night from DW and I don’t know why they’re saying the parks are empty. They are NOT- it was VERY busy!!!
I just don’t believe a word of what Iger is saying. You know how important that bottom line is for Disney!
Despite what others believe the cause of reduced crowd size is “Disney’s woke agenda.” Reality is that it is across all sectors of Orlando’s leisure businesses. As Iger points out, hotels in the Orlando area are collecting less room tax revenues and I’m sure that translates into ancillary businesses (ie Non-Disney) feeling the pinch.
All of those pictures show parks that are far from empty. Just more of people trying to incite mass hysteria! Numbers may be down from previous years, but for many times are rough, financially. I am personally choosing not to spend my tourism dollars in Florida period, but Disney is far from going under.
I was there over the 4th of July and yes both Magic Kingdom and EPCOT were way down. As for thinking that a 65 minute wait a Seven Dwarfs is long that person must not have been there in the last few years. Iger can say all he wants that he is not worried, but he is whistling past the graveyard. Management has completed destroyed a company that was based on appealing to the family and has gone radically left not just in its movies but in the parks. LBGQTIA merchandise was still in the most prominently displayed areas in stores, and I do not enjoy having to deal with that agenda with my granddaughter.
I’m not sure about the “Pricing is not an issue.” For most of us…it just might be an issue.
We are all aware that there are still a large number of people (Super Fans) that are willing to
over pay for park admission, but then, an addiction is an addiction.
Maybe it would help attendance if the Magical express was coming back, or park pricing comes down with the up-charges for riding the most popular rides, or paying for fast passes.
From what the world is seeing on the media, Florida’s entire tourism and convention industries are down. People and companies are cancelling visits. That’s what happens when a fascist dictator runs your state, I guess.
Iger is also wrong. Pricing IS an issue. Just look at all the park sites and read the comments.
Why is Disney Food Blog acting surprised by this? All of last year, you and every other Disney covering media websites wrote about how there should be smaller crowds in 2023-2024 because the 50th anniversary would be over. There were also many articles about the pent up demand for travel to Disney after covid would begin to drop. More people are using genie plus and know how to use it. Last but not least there is a group of ( for lack of better term) the “go woke go broke” crowd that are avoiding all things Disney. Even a small percentage of people not going makes an impact. That is Good for me and others because the lines will be shorter on our visits. I think it best to not get caught up into anecdotal evidence of short lines, pictures of some rides with little to no people in line. Better to wait and see what the industry yearly attendance numbers come in at. Iger already knows what the actual attendance is.
I thought it was interesting that Iger said pricing isn’t an issue. We cancelled plans to go in 2023 with our family of four because of the price increases and the loss of “free” amenities as I know others have. Once the “Disney or bust” crowd and COVID revenge vacationers get their fill, it will be interesting to see what happens. I know people will still go, in fact my husband and I are considering a trip in 2024 for just the two of us, but we aren’t going annually for the foreseeable future.
He’s a fool if he thinks prices have nothing to do with it. 🤦🏼♂️ Also, how about eliminating park reservations completely bring back anytime park hopping , and do away with paying for lightning lanes, and bring back fast passes. All of that absolutely makes a difference. Of course some of it is only my opinion and my first hand frustrations.
Once upon a time everyone who visited a Disney park was more or less equal once they’d stumped up the price of a park entry ticket. Now the wealthier get to enjoy superior benefits like Genie + and Lighting Lanes which not only allow them to jump the lines but also fill up the rides whilst less well off folks have to wait. Exclusive areas of the parks like Cinderella’s Castle and Beast’s Castle can only be viewed by those with enough extra money to pay for a meal there. Now, not only do I feel sad I can’t get the perks of staying in an upscale Disney hotel, or any Disney hotel, but I get to feel like a second class citizen once I’m through the gate. Who wants to feel like that on vacation? Who wants to explain to their kids they can’t get on that ride or see the castle because their parents can’t afford those extras? Mr Iger, price is absolutely an issue because where once there was one price for everybody now there is not.