The Walt Disney Company recently announced plans to significantly increase its investment in Walt Disney World, Disneyland, Disney Cruise Line, and international parks, doubling capital expenditures to approximately $60 billion over about 10 years. This expansion could include the addition of Wakanda from Black Panther and the World of Frozen.
During an investor summit at Walt Disney World, CEO Bob Iger and Parks Chairman Josh D’Amaro discussed the company’s ambitious growth strategy, focusing on stories, scale, and fans. They emphasized the importance of leveraging Disney’s vast library of stories and reimagining theme park offerings to appeal to a broader audience.
Disney has seen success with previous investments in its theme parks, including additions like Cars Land, Star Wars Galaxy’s Edge, and Avengers Campus. Now, with a wealth of untapped stories, Disney plans to explore more characters and franchises, both domestically and internationally.
In the near term, new Frozen-themed lands are coming to various Disney parks, and World of Frozen will open at Hong Kong Disneyland in November 2023.
Disney Parks is a key driver of value creation for the company, and international parks, particularly those in Asia, have shown strong growth in recent quarters. Disney has over 1,000 acres of land for potential future development across its existing sites, equivalent to about seven new Disneyland Parks.
Disney Cruise Line is also expanding its fleet, adding new ships in fiscal year 2025 and beyond, with plans to reach new markets and extend its reach further into the Asia-Pacific region.
Disney’s goal is to reach more consumers and create new fans as it expands its offerings and global footprint. The company aims to invest wisely and maintain a balance sheet while turbocharging growth in its Parks business with strategic investments.
Possible additions discussed include Wakanda-themed attractions at Walt Disney World and the World of Frozen at Disneyland Resort, but specific details and locations are yet to be confirmed.
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