While reading the daily news, I stumbled across an article from Forbes and I thought it was very interesting and wanted to share it with all. Disney has yet to confirm this from what I have seen, but in addition to Forbes I have seen this reported by other reputable sites. It’s kind of interesting…. check it out below!
Parks and Resorts is the most valuable segment for Disney ,according to our estimates, and accounts for nearly 30% of the company’s valuation. With its ESPN channels facing subscriber losses, the company is looking for innovative ways to improve customer experience at its theme parks. It aims to attract more customers and drive an increase in customer spending. Reports suggest that Disney has applied for a patent on a machine that can take images of theme park guest’s shoes to gather data and help customize park visits. With the new foot recognition system, the company can track movement of visitors and potentially send a character to greet them by name or make it easier to send them their visitor photos. A more convenient and personalized experience at a Disney park can lead to customer delight, eventually attracting more customers to the parks and increasing customer spending. The net effects should lead to an upside in Disney’s valuation over time.
Non-Invasive Technology To Track Customers
The patent filed by Disney describes a machine that takes photos of visitors’ feet as they enter a theme park and pairs these photos with demographic information given voluntarily by the visitor such as name, age or city. Later another camera aimed at shoe level can track the same visitor at a ride or an eatery. This non-invasive technology can help Disney in two major ways. It can enable the company to mine data around customer preferences based on their demographics, which can later be used to improve experiences or for marketing purposes. This technology can also be used to create a more personalized experience for the customer in several ways, such as personal greetings by characters, easy access to photos on rides, etc. While wristbands are currently being used by Walt Disney World in Florida for customers who stay in a Disney hotel or use an annual pass and act as a tracking tool they are invasive and hence Disney does not plan to expand their use. Foot images paired with other information can serve this purpose in a more effective and less invasive way.
As per our estimates, per capita spend at the U.S. theme parks and number of guests at the parks are two key value drivers for Disney’s U.S. theme parks and hotels segment which accounts for more than 20% of its valuation.
A more personalized and convenience oriented service can attract users to Disney’s parks and also justify increase in ticket prices, thus increasing the per capita spend by users on its parks.
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