Disneyland’s Magic Key program, the replacement for the popular annual pass, is about to get more expensive.
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According to the California theme park’s website, prices for the Magic Key program will now range between $449 and $1,599, up from $399 to $1,399 last year.
The four tiers include the $449 Imagine Key, the $699 Enchant Key, the $1,099 Believe Key, and the new $1,599 Inspire Key. The Inspire Key replaces the Dream Key, which is no longer available for purchase or renewal.
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All four tiers have block dates, discounts on select merchandise and restaurants, and 20% off Disney Genie+ service, the replacement for the FastPass program that allows guests to skip the long lines at popular attractions for an additional fee.
The Inspire Key will be the only one to include standard theme park parking, with the rest offering parking discounts. Additionally, both the Inspire Key and Believe Key offer unlimited digital photo downloads through Disney’s PhotoPass service. The Imagine Key is only available to Southern California residents who live in zip codes 90000 to 93599.
A Disneyland spokesperson confirmed to FOX Business that renewals for current Magic Key holders will not open until 9am on Thursday morning. However, according to the company’s website, sales of new Magic Key passes remain on hold.
The Magic Key renewal announcement comes as the program is the subject of an ongoing $5 million lawsuit accusing Disneyland of artificially limiting the theme park’s capacity and blocking Magic Key holders without making block dates. of reservations, according to the Orange County Register.
Disney has denied the allegations, arguing that it was “clear about the terms of the Magic Key product”. Although the company tried to dismiss the case, a judge allowed it to proceed and ruled in May that the plaintiff “adequately argued for facts to support how a reasonable consumer could be misled by the ad, which states ‘no block dates’.”
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Disney recently beat Wall Street’s expectations for its fiscal third quarter with adjusted earnings per share of $1.09, up 36% from the same period a year ago. Revenue increased 26% from the same period last year to $21.5 billion. The Disney Parks, Experiences and Products segment posted revenue of $7.4 billion, up 70% from $4.3 billion a year ago.
During the earnings call for the third quarter, Chief Financial Officer Christine McCarthy said demand in domestic theme parks continued to exceed expectations, with turnout many days following 2019 levels. However, the company’s press release noted that an increase of average ticket revenue per capita from Genie+ and Lightning Lane and reduced impact from promotions at Walt Disney World Resort “was partially offset by an unfavorable attendance mix at Disneyland Resort.”
“Looking ahead, domestic demand in our theme parks continues to look robust with current forward-looking hotel bookings and intent to visit, roughly in line with pre-pandemic trends,” McCarthy added.
Disney shares are down about 20% so far.