Whether you agree with what he’s done or not — Bob Chapek has changed the House of Mouse forever.
Since first taking the helm as Chief Executive Officer almost three full years ago, Chapek has faced no shortage of challenges both specific to The Walt Disney Company and on a broader, more global scale as well. So, what all has transpired since Bob Chapek took over as The Walt Disney Company CEO? Let’s take a closer look.
Let’s start at the beginning, shall we? Bob Chapek first took over as Chief Executive Officer in February 2020, after Bob Iger suddenly stepped down as CEO. Chapek previously served as Chairman of Disney Parks, Experiences, and Products.
Iger shared a brief statement about stepping down, and thus began Chapek’s chaotic tenure as CEO.
This was no doubt not an ideal situation for the then-fresh CEO Chapek to have to deal with, but it was later revealed that his predecessor Bob Iger had stayed on to help with the uncertainty.
After the longest closure in Disney World history, the parks and resorts began a phased reopening in July 2020. Enhanced health and safety measures were enacted, park capacity was limited, and the Park Pass Reservation System was introduced.
Slowly but surely, we’ve seen hotels, restaurants, special experiences, and more return to Disney World.
In response to the global pandemic and much of the world still under shutdown orders, Disney+ introduced Premier Access on the streaming service platform. Since most movie theaters were closed and not showing films, Disney decided to have the premieres at home.
The live-action Mulan was the first movie to get this treatment — subscribers had to pay an additional $30 to watch the film before it was released to the rest of the platform.
After launching in 2019, the price for a Disney+ subscription remained at $6.99 per month or $69.99 annually for almost two years — almost.
In March 2021, the first price increase came to Disney+ and it was raised to $7.99 per month or $79.99 annually.
Disneyland Park and Disney California Adventure both reopened on April 30th, 2021 after being closed for more than one year. The Park Pass Reservation System was introduced here as well.
Just like Disney World, not everything opened all at once and Disneyland had to contend with the strict health and safety guidelines in California.
Although Disneyland had reopened its doors, the Annual Passport System did not return — at least not like it used to be. The Magic Key Program was launched in August 2021.
The new program came with tiers, each with different benefits depending on what you pay for your pass.
Not to be outdone, Disney World also introduced an overhaul of their Annual Pass System, with new sales beginning in September 2021.
Not only was this a brand-new system, but it also came with a price increase for the passes.
After much anticipation, the Disney World 50th Anniversary Celebrations kicked off on October 1st, 2021. Bob Chapek came to Magic Kingdom to celebrate, and so did hundreds of special snacks, and merchandise items, and we even got some new entertainment out of it.
Those pesky price increases were at it again in October 2021, this time in the form of a Disneyland ticket and parking cost hike.
While price increases have always been a part of Disney history and aren’t necessarily because of Chapek, we think they’re still important to note.
In August 2022, it was announced that a new ad-supported tier would be coming to Disney+, and price increases would be coming along with it.
The new ad-free tier starts at $10.99 per month, and there are several other tiers and bundles to choose from. This goes into effect on December 8th, 2022. Bob Chapek recently commented that they “dramatically underestimated the hungry beast” as it pertains to Disney+.
Also in August 2022, Magic Key Passholders were in for a rude awakening when the news finally broke about pass renewals.
Current key holders were able to renew, but at a much higher price.
In addition to Disney+ seeing a new plan with increased prices, it was announced that the Disney-owned Hulu streaming service would also see a cost hike.
And then, in October, the Hulu price increase arrived.
Remember those price increases we said were pretty common throughout Disney World? We meant it, and in October 2022 hundreds more price increases hit restaurants and more. Special experiences like private PhotoPass sessions, lightsaber, and droid-building also went up in price.
At the same time, Disney also announced that Genie+ would no longer be just $15 per person per day, and would instead be subject to surge pricing depending on the date of your visit.
And that’s a look at the financial decisions and changes that have been made thus far with Chapek has been CEO. We’ll be keeping up with the latest and let you know what Bob’s up to next. Plus, click here to download our printable timeline!
Want to read more about Bob Chapek? Check out the posts below:
- Bob Chapek Comments on the Park Pass Reservation System
- NEWS: Amount of CEO Bob Chapek’s Annual Bonus Revealed
- Chapek Comments on Disney World Price Increases
- See Disney CEO Bob Chapek’s Comments on Disney+
- Disney CEO Bob Chapek Comments on Price Increases, Annual Passes, and Park Passes
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What do you think about what Bob Chapek has done to Disney? Let us know in the comments!
The post A Timeline of Disney CEO Bob Chapek’s Financial Decisions 2020-2022 first appeared on the disney food blog.