Good morning. Today, consumer trends catch up with higher snack prices; a succession victory emphasizes the rise of Disney’s experiences business; and Santa Clara, Calif., tries to ignore all those Super Bowl parties in San Francisco.

PepsiCo is moving to reduce prices by as much as 15% on snacks including Lay’s, Doritos and Flamin’ Hot Cheetos, Laura Cooper and Jesse Newman report in an exclusive this morning for The Wall Street Journal.

The decision follows complaints from shoppers (and an activist investor) about price hikes, particularly in the snack aisles where food makers thought brand loyalty would give them leverage.

But consumer trends weakened PepsiCo’s hand with the pricing gun.

Winds were blowing against highly processed, salty snacks with weak macro profiles even before MAHA went to Washington.

PepsiCo in response ran a Super Bowl ad last year about Lay’s “real potatoes grown on family farms” and later added a “Made with real potatoes” banner to the chips’ bags.

This Sunday PepsiCo will bring those repackaged Lay’s to the Super Bowl in a commercial that a teaser suggests will continue the wholesome theme.

Viewers will perhaps also get a glimpse of snack bags’ new promise following the price cut: “Same size, new low price.”

There’s no sign yet that sibling brand Doritos, with its much longer ingredient list, will also get to repeat its appearance in last year’s game.

What follows Disney’s pick: Disney this morning chose its theme-parks and cruise-ships boss Josh D’Amaro to succeed Bob Iger as CEO instead of entertainment co-Chairman Dana Walden, who some considered a better choice because of her decades working closely with creative talent.

D’Amaro’s rise mirrors the ascent of the experiences business at the company, but now it’ll be up to him to spell out a new growth plan for the whole enterprise. Some Disney rivals will meanwhile try to convince Walden to jump ship. 

Social pressure: Spain’s prime minister said the country would ban social-media access for children under 16, adding momentum to an idea taking hold in pockets around the world. Australia decided last year that some platforms had to ban anyone under the age of 16 from holding an account, Malaysia has plans to adopt the same restrictions and New Zealand has floated similar measures.

While many marketers say they don’t target children on social media, there could be ripple effects from this kind of age-gating—starting with the increased use of VPNs to disguise consumer data.

More Super Bowl ad drops: It’s prime time for marketers to release any full Super Bowl commercials they want to be seen before the game.

This week has already seen ad reveals from Oakley Meta, Grubhub, Ring, Kinder Bueno and Xfinity on Monday, plus Svedka’s mostly-AI ad and the Super Bowl debut from software firm Rippling just this morning.

The Super Bowl takes place this Sunday at Levi’s Stadium in Santa Clara, Calif., but city residents and businesses weren’t surprised when they were awarded one sanctioned event and San Francisco got the Pro Bowl Games, a Super Bowl innovation summit, an NFL awards show and concerts by performers including Sting, Post Malone, The Killers, Benson Boone and Green Day.

It’s happened before, Jim Carlton writes for The Journal: When the Super Bowl took place at Levi’s in 2016, 57% of the estimated $240 million in related spending flowed to San Francisco, 12% went to San Jose and 7% wound up in Santa Clara, a study later found.

San Francisco has a much bigger convention center and many more hotel rooms, so Santa Clara isn’t taking the snubs too personally.

Mayor Matt Mahan instead helped raise $5 million from businesses to field a competing roster of events, including a three-day block party called Super Fest, watch parties, drone shows and sold-out outdoor performances by the R&B singer Kehlani and DJ Dom Dolla.

“We can complain all we want, but I think we have approached this year differently,” Mahan said.

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