The chief executive of Disney, Bob Iger, has said that the company will be reducing the level of discounting that has been offered at its theme parks over the past year due to the recession.

Speaking at the UBS 37th Annual Global Media and Communications Conference, Iger said that the company's bookings tends were 'relatively good, but near term'.

"Visibility well into the year is very limited, which I think speaks volumes about the economy and the marketplace, and is an experience that I think many people who are selling goods to consumers are experiencing. It's not a market that lends itself to long-term commitments or early buying."

Consequently, he said that while the company has already started to look at reducing the level of discounting offered, he was not sure when they would be able to cut back completely.

"We've looked very carefully at the discounting that we did in the previous downturns and we found that we had no problem at all weaning ourselves or the consumer from those discounts. We know we have a great product that is in demand, that people will pay for when they feel that they can afford it.

"We're not concerned about weaning ourselves in the marketplace at the discount, but we don't know when we'll be able to essentially turn it off. So we've dialed it back. I imagine, without committing to this, but given certain trends, that we will be able to continue to dial that back over the latter part of 2010. But we're not making any commitments yet until we see the marketplace conditions."