In its never-ending quest for total world domination exciting new consumer experiences, Disney is exploring the creation of an Amazon Prime-like membership, per The Wall Street Journal.
What happened: Disney is in the early stages of developing a program that would tie together its streaming services, theme parks, resorts, and merchandise in one tidy bundle.
- The bundle would also include discounts and exclusive perks, potentially offering subscribers everything from limited-edition lightsabres to discounts for Disney Broadway shows.
Why it’s happening: A Disney membership could boost revenue by luring its most loyal customers into spending even more while also giving the company access to a trove of user data that could be more valuable than Alladin’s Cave of Wonders.
- CEO Bob Chapek has been adamant about cross-selling to customers and has championed the company as a “unique synergy machine” that has many different avenues to reach people.
The move is part of Disney’s broader strategy to focus on maximizing the value of its biggest fans rather than appealing to a broader, but less lucrative, customer base.
- The approach is already yielding results in Disney’s parks which are making more money than ever (despite having fewer guests) after the company jacked up the price of nearly everything.
Big picture: Disney knows that it has to be much more than just an entertainment company to satisfy shareholders. From residential communities to startup accelerators, the House of Mouse is multiplying revenue streams and would love for you to participate in as many as possible.