New investments in theme parks and cruises for the Disney company, according to its business filings.
On Tuesday, the Walt Disney Company said in their regulatory filing thaat they plan to invest about $60 billion into their famous theme parks and globe-spanning cruise lines over the next ten years. While most people come into contact with Disney via their many, many media properties, the theme parks are actually the cash cow of the megacorp. In 2022, the parks, experiences, and products division produced over $7.9 billion, or 64% off the company’s total operating income. In the first two quarters of 2023, that rose by another 13%. In the same period, the unit which governs movies, television, and streaming saw its revenue dip by over 1%.
Current CEO Bob Iger is focusing heavily on investing in the parks with an eye to major expansions. According to prepared statements from his office, the park has over 1000 acres of land earmarked for possible future development around its various parks. They also intend to mine current intellectual properties to make more attraction. Already planned are Frozen-themed lands in the Hong Kong, Paris, and Tokyo parks, and a Zootopia-themed land in Shanghai. More expansions will happen in Disneyworld in Florida.
For the ships, three are set to be launched in 2025 and 2026, bringing the Disney fleet to a total of eight.
The $60 billion in new investments are not specifically assigned to any project yet, merely committed for future expansions. For context, the recent addition of Star Wars Galaxy’s Edge at Disneyland cost approximately $1 billion, and the construction of the Disney Wish, one of the most recent cruise ships, cost about the same. According to a prepared statement, Disney is confident that major expansions like this will have strong payoffs. So it ought to be an exciting decade for the Disney parks and their fans all over the world.