A Timeline of Disney CEO Bob Chapek’s Financial Decisions 2020-2022
Whether you agree with what he’s done or not — Bob Chapek has changed the House of Mouse forever.
Bob Chapek
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.
February 2020
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.
©CNBC
Iger shared a brief statement about stepping down, and thus began Chapek’s chaotic tenure as CEO.
March 2020
With the COVID-19 Pandemic raging throughout much of the globe, the Walt Disney Company closed the doors to both Disney World and Disneyland in March 2020.
Disneyland
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.
July 2020
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.
Disney’s health and safety policies follow the federal requirements
Slowly but surely, we’ve seen hotels, restaurants, special experiences, and more return to Disney World.
September 2020
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.
AMC Theater Disney Springs
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.
How Much Money Has Disney+ Made With Premier Access?
March 2021
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.
©Disney
In March 2021, the first price increase came to Disney+ and it was raised to $7.99 per month or $79.99 annually.
April 2021
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.
Disney California Adventure
Just like Disney World, not everything opened all at once and Disneyland had to contend with the strict health and safety guidelines in California.
August 2021
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.
Magic Key Logo
The new program came with tiers, each with different benefits depending on what you pay for your pass.
September 2021
Not to be outdone, Disney World also introduced an overhaul of their Annual Pass System, with new sales beginning in September 2021.
Annual Passholder Bucket
Not only was this a brand-new system, but it also came with a price increase for the passes.
October 2021
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.
Cinderella Castle for the 50th Anniversary
On October 19th, 2021, Disney Genie and Genie+ launched in Disney World. Genie+ was the new, paid replacement to the old FastPass+ system and the fastest way to skip to the front of the line.
Disney Genie
Those pesky price increases were at it again in October 2021, this time in the form of a Disneyland ticket and parking cost hike.
January 2022
Hundreds of price increases hit Disney World restaurants in early 2022.
The menu
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.
August 2022
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.
©Disney
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+.
Read More About the Disney+ Ads Price Increase Here
Also in August 2022, Magic Key Passholders were in for a rude awakening when the news finally broke about pass renewals.
Welcome Magic Key Holders!
Current key holders were able to renew, but at a much higher price.
Learn More About Magic Key Here
September 2022
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.
©Hulu
And then, in October, the Hulu price increase arrived.
Read About the Hulu Price Increase Here
October 2022
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.
PhotoPass station and photographer
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.
See What the NEW Pricing for Genie+ Is Like in Disney World
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!
Bob Chapek CEO 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
Be sure to stay tuned to DFB for the latest Disney news and more!
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What do you think about what Bob Chapek has done to Disney? Let us know in the comments!
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