Disney Sees Spending Bump From MyMagic+ Wristbands Wearers

by Christopher Freeburn | July 12, 2013 9:53 am

Disney high put/call ratio[1]Digital wristbands meant to make it easier for visitors to navigate Disney (DIS[2]) theme parks are also prompting them to spend more during their visits[3].

On Thursday, the head of Disney’s theme park unit, Thomas Staggs, reportedly said that the MyMagic+ wristbands, which are being tested at Florida’s Walt Disney World, had boosted user spending by an undisclosed amount. He attributed the additional spending to visitors having fun with the wristbands, The Hollywood Reporter noted.

Staggs is currently considered one of the short list candidates to replace Disney CEO Robert Iger when he eventually steps down. However, Iger recently extended his tenure as CEO until at least 2016[4].

Disney has been testing the new electronic wristbands, which are meant to replace park passes and hotel room keys[5]. The wristbands allow users to arrange meetings with Disney characters and book seats on rides and at restaurants.

Shares of Disney fell fractionally in Friday morning trading.

  1. [Image]: https://investorplace.com/wp-content/uploads/2011/08/walt_disney_leaving_avoid_630.jpg
  2. DIS: http://studio-5.financialcontent.com/investplace/quote?Symbol=DIS
  3. to spend more during their visits: http://www.hollywoodreporter.com/news/sun-valley-disney-theme-parks-584567
  4. extended his tenure as CEO until at least 2016: https://investorplace.com/2013/07/disney-gets-iger-through-2016/
  5. meant to replace park passes and hotel room keys: https://investorplace.com/2013/05/disney-parks-debut-new-magicbands/

Source URL: https://investorplace.com/2013/07/disney-sees-spending-bump-from-mymagic-wristbands-wearers/
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