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Disney to offer discounts on children's tickets at theme parks

FILE PHOTO: A screen shows the trading info for The Walt Disney Company company on the floor of the NYSE in New York

(Reuters) - Walt Disney said on Wednesday it will offer discounts on ticket prices for children at its theme parks for a limited period as it looks to boost traffic.

Business at amusement parks took a hit during the pandemic in 2020 and 2021 as the spread of COVID-19 forced closures and hit attendance.

The business had, however, rebounded strongly to become the media conglomerate's main profit engine and also helped cushion losses in its Disney+ streaming business, but is lately showing signs of a slowdown in footfall.

Disney CEO Bob Iger said in August during the third-quarter earnings conference call that the California-based company had seen "softer performance" at Walt Disney World, a part of its parks business, in Orlando.

Although, Iger described the parks as "a tremendous business" and said Walt Disney World was still performing well above pre-pandemic levels.

The company last month said it would nearly double its capital expenditure for its parks business to about $60 billion over the next 10 years.

Beginning Oct. 24, Disney will offer children's tickets at Disneyland Resort theme parks for as low as $50 for a day, which will be valid for use between Jan. 8 and March 10 next year, the company said in a blog post.

Walt Disney World will also introduce a package offer on Nov. 14 for families with discounted children's tickets for theme parks and dining plans, which can be used from March 3 through June 30 next year.

The offers are valid only for children aged 3 to 9.

(Reporting by Akash Sriram and Samrhitha Arunasalam in Bengaluru; Editing by Shinjini Ganguli)

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