Walt Disney Company CEO Bob Iger expressed sympathy with consumers who have complained about the company’s theme park prices.
Iger, speaking Thursday at the Morgan Stanley Technology, Media and Telecom Conference, said the price hikes at Disney parks may have been “a little bit too aggressive.”
“In our zeal to grow profits, we may have been a little bit too aggressive about some of our pricing,” Iger said, according to the Los Angeles Times.
He added, “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’s business model of theme parks and various forms of entertainment programming has struggled in recent years amid the global pandemic and the difficulty in churning steady profits through streaming video.
Iger, 72, is widely regarded as among the most successful media executives in the business, overseeing a string of hit programming and generating record profits for investors, while expanding Disney’s theme park footprint globally.
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