It is one year after it is activated. If you purchase in advance from Disney you receive a voucher. It becomes activated when you go to Disney and go to Guest Services and have them give you the actual pass. The date is marked on the pass and it is good through that same date next year.
If you purchase it while at Disney or at the Disney store at the MCO airport (there may be another central Florida location, like the visitor center that this applies for too), you do not get a voucher. They give you the actual activated AP right then and there with the date on it. Again it would be good through that same date next year.
Actually that's not technically correct. As I stated above, it is when it is activated. I could activate my pass today but not enter a park with it for the first time until Saturday. It would expire one year from today, not from Saturday when it was first used.
Why would I activate it before I used it? I guess if you needed to show it for a discount, but I plan around these type of things. So I guess I'm being more general with my comments.
Yes, there is a renewal discount, currently about $50. Your renewal, even if you get a "voucher" instead of an actual pass, will be backdated to expire one year from your original pass expiration date.
Originally posted by Timon@BWV Why would I activate it before I used it? I guess if you needed to show it for a discount, but I plan around these type of things. So I guess I'm being more general with my comments.
Generally you wouldn't, although some people will activate it the night before at DTD so that they don't have to mess with it in the morning. Also, if you purchased it from the Disney Store in MCO when you arrived, it would be already activated even though you might not be going to a park until the next day.