Walt Disney Co. just increased the price of happiness as summer begins.

The multinational media company raised the price of admission to its Disneyland theme parks, known as the "happiest place on earth," to $96, a 4 percent bump from the $92 price it set last year, according to The Los Angeles Times.

Disney's price increase on single-day passes for visitors aged 10 or older to both Disneyland and California Adventure parks in Anaheim, California came without notice and a week before Memorial Day, which marks the beginning of summer.

The price for the "One Day Parkhoppper," which gives visitors access to both parks, rose to $150, a 9.5 percent increase, USA Today reported.

In an issued statement, Disney said the price increases are the nature of business and part of its efforts to constantly maintain a high standard of entertainment.

"Like any business, we periodically evaluate our pricing and make adjustments based on a variety of factors," Disney said in a statement. "A ticket to our theme parks represents a great value, particularly when you look at the breadth and quality of attractions and entertainment we offer and the special moments guests experience with our cast."

Disney also extended price increases to its parking, which rose to $17 from $16, and annual passes. The Deluxe Annual Passport that gets patrons access to both parks for 315 days of the year jumped by 4 percent from $499 to $519.

USA Today reported that Disney has suspended the annual passport with the exception to those who already have purchased one before the changes occurred.

The price changes were implemented at midnight, Saturday night, according to the Times.

The single-day entry price has risen every summer since August 2010. Disney raised the price in June 2011, May 2012, and June 2013 and then this past weekend. If Disney keeps the same 4 percent trend going, the price of entry will break the $100 mark next year.