Disneyland raised prices for its annual passes this Sunday, which include a new exclusive, top-level, $1,049 Signature Plus Passport. 

The theme park - tagged as the "happiest place on earth" - has introduced a cheaper version of of the Plus: the Signature Passport costing $849 each. This cheaper passport will possibly not be available during Christmas and New Year season. Disney's Deluxe Passport also added $50 to its cost now totaling $599. The Premium Passport for Disneyland has been eliminated so the new passes can be available to the public, Time reported.

The theme park is also considering opting for demand-based pricing on its parks located domestically. This means the ticket prices could cost less than the original price or could have additional perks depending on the day of the sale, if there are only few people or too many people. 

"We have to look at ways to spread out our attendance throughout the year so we can accommodate demand and avoid bursting at the seams," said Chairman Bob Chapek of the Walt Disney Parks and Resorts, the Wall Street Journal reported.

Los-Angeles theme parks such as Universal Studios Hollywood and Knott's Berry Farm can double or triple their prices but will seem more like a bargain compared to Disneyland's annual passes. Knott's Berry Farm annual passes cost only $141 without blackout dates and includes free parking. Universal Studios Hollywood previously offered annual passes amounting to only $159 online, but is no longer offering passes after Feb. 11, 2016. It could possibly raise its prices considering the Wizarding World of Harry Potter opens this spring, according to the Theme Park Insider.