If you've ever visited any of Disney's theme parks around the world, you'll be aware that gaining entry can be expensive.
For instance, let's consider Disney World Florida, where the cost of admission for a single day to any one of its theme parks is usually $109 or more, throughout much of the year.
Nonetheless, during peak periods, this entry fee can escalate to as much as $189 for all visitors aged ten and above.
A recent high-tier, one-day ticket for Disneyland California reached an astonishing $244.
If you're taking the entire family, it can definitely be a pricey outing, particularly with the current global cost of living crisis affecting many regions.
The CEO of Disney, Bob Iger, has acknowledged that the corporation was excessively 'aggressive' in implementing several of its recent price increases.
One example of this was a two-night stay at a Star Wars-themed hotel, which cost $20,000 and received backlash from fans, leading the company to reduce the availability of the offer.
During the Morgan Stanley Technology, Media, and Telecom Conference on Thursday (March 9th), Iger acknowledged that increasing prices at Disney's theme parks had been an error.
"I always believed that Disney was a brand that needs to be accessible," Iger said.
"In our zeal to grow profits, we may have been a little bit too aggressive about some of our pricing."
"I think there's a way to continue to grow that business, but be smarter about how we price so that we maintain that brand value of accessibility."
Disney has already extended the availability of adult tickets at its California resort, which can now be purchased for a minimum of $104 on additional days.
Iger resumed the position of Disney CEO in November, having previously stepped down from the role in November 2021.
In the aftermath of all the disruption, Iger has declared that he will 'continue to heed the concerns of consumers,' before adding: "We're going to continue to adjust."
Since reclaiming his position as Disney's head honcho, Iger has placed a particular emphasis on theme parks.
"One of the things that we had to do was we had to improve the guest experience by reducing crowding," he said.
"It's tempting to let more and more people in, but if the guest satisfaction levels are going down because of crowding then that doesn't work."
"We have to figure out how we reduce crowding but maintain our profitability."
In January, Disney tackled long-standing customer grievances by addressing parking issues for guests staying at Disney World hotels.
Previously, Disney charged customers for overnight parking of their vehicles, but this policy has now been revised.