The Walt Disney Company is often looked at as an example of what it means to be successful in business.

That success was evident during the last company earnings call, where we learned that parks revenue had increased by $4.3 billion in the third quarter of this year. So, it’s no wonder that Walt Disney Company executives would be invited to speak at the occasional business affair here and there. Recently, two senior Disney officials participated in a question and answer session at a Bank of America conference and spoke about various aspects of the business. We listened in, and we’re recapping all the important info you need to know!

Walt Disney Company Senior Executive Vice President and Chief Financial Officer Christine McCarthy and Chairman of Disney Parks, Experiences, and Products Josh D’Amaro recently participated in a Q&A session at the Bank of America Securities Media, Communications & Entertainment Conference. During the session, the executives answered questions on everything from park capacity to advertising and more.

We listened in, and are sharing everything you might want to know!

Disney+ and Streaming

There was a lot of talk about Disney+ and the new ad-supported tier that is being introduced to the service later this year. When asked about pricing, Christine McCarthy commented that when Disney+ first launched, it was priced at “an attractive price point” in order to gain subscribers. Now that more content has come to the platform (both original and acquired) the prices are increasing to match the quantity and quality of content.

Disney+ is introducing its ad-supported tier in December, and McCarthy confirmed that during the initial rollout, there will only be 4 minutes of ads per hour. She went on to say that they’ve had no struggle to find advertisers, as the spaces available are scarce which is driving demand. During the initial marketing phase, the company generated over $9 billion in advertiser commitments.

The executives also briefly discussed Disney-owned ESPN and the thought behind continuing to own that branch. They shared that ESPN is viewed as an asset by the company and is “fully integrated into how [they] think about delivering content to consumers.”

That integration was also mentioned when it came to the overall Disney consumer experience as it relates to the in-park subscriber perks coming for Disney+ Day.

Everything We Know About Disney+ Day This Year

Disney Parks

When it comes to the Disney parks experience, the consumer or guest experience was also at the forefront of the conversation. Disney films and franchises can “translate directly into theme park experiences” according to Josh D’Amaro. He went on to name Pandora in Animal Kingdom and Avengers Campus in Disneyland Resort and Disneyland Paris as examples.

D’Amaro also revealed that despite Disneyland having been closed for over 400 days during the global pandemic, the company recovered “very quickly” (albeit not very smoothly) which “speaks to the power of the brand and the connections that guests have” to it. And, despite guest volume being lower, the operating income of Disney parks is above where it was at this time in 2019.

One thing that has stuck around is the Park Pass Reservation System, which allows them to put a cap on attendance and “fully utilize assets” in the parks. The company knew that the system could be used as a tool to “much better manage park capacity and guest experience.”

Of course, Disney Genie was mentioned as an additional tool that was introduced in the past year, which “optimizes park time for guests” but is also beneficial for the company as it can guide guests to certain attractions or areas of the parks. But, guests can go even further if they so choose by planning their day with Genie+ and Individual Lightning Lanes. According to D’Amaro, 70% of guests surveyed who have purchased Genie+ said they would buy the service on future visits.

When asked about how data drives business and decision-making in the parks, the executives shared that new systems (like Genie and even Disney+) can gather more data about guests that can improve experiences and give the company more information about how best to direct you in the parks. This can help them create a full picture of the consumer and “move people seamlessly through [their] experiences.”

Click Here to Read Our Ultimate Guide to Disney Genie

Overall, we didn’t learn any bombshell news or information from this call. BUT, we are expecting to learn plenty of juicy news and announcements on Disney+ Day taking place on September 8th! Not only that, but the D23 Expo is coming up right after that and promises exciting panels, entertainment, announcements, celebrity appearances, and more.

We’ll be covering BOTH events live and in full detail, so be sure to stay tuned to DFB for more!

The 2023 Disney World Park Passes You Need to Book Now

 

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What big announcements are you looking forward to from these upcoming Disney events? Let us know in the comments!

The post Disney Executives Comment on Park Pass Reservation System, Genie+, and MORE first appeared on the disney food blog.