Disney to raise prices at theme parks in Florida and California - reports

Investing.com -- Walt Disney (NYSE:DIS) is set to raise some prices at its theme parks in Florida and California, multiple media outlets have reported, as the entertainment giant moves to offset challenges at its streaming and linear television units.

At the firm's Disney World location in Florida, prices for annual passes will rise between $40 to $50, while parking will jump to $30 from $25, the reports said, citing a company spokesperson. Prices for date-based tickets will not be raised, however.

Meanwhile, Disneyland in California will be hiking admission for both daily and multi-day tickets by 4% to 15.7%, although the least expensive option will stay at $104, the level it has had since 2019. The price of Disneyland's Genie+ offering, a service allowing visitors to access shorter lines, has also gone up by $5 to $30 per person.

The revised pricing comes after Disney said in September that it will almost double its capital expenditures for its lucrative parks division to roughly $60 billion over the next decade. These destinations have helped to undergird profits at Disney, easing the impact of losses at its Disney+ streaming business and weakness at its traditional TV unit during an era of cord-cutting by many viewers.