The Walt Disney Co. plans to double its investment in its theme parks and cruises over the next 10 years, bringing the budget to $60 billion.
Disney officials, including CEO Bob Iger and Disney Parks, Experiences and Products Chairman Josh D’Amaro, are expected to make the announcement Tuesday in Orlando before a panel of investors and analysts.
Currently, Disney has 12 theme parks around the world while its Disney Cruise Line ships visit 94 ports in 40 countries. According to internal research, for every person who visits a site of the entertainment giant, there are ten others who enjoy Disney, but who have never visited a park or boarded a cruise ship. American multinational. According to figures published in Variety, approximately 100 million people visit Disney parks each year, so there is “a huge untapped potential for new potential consumers,” according to the company.
Disney’s Parks, Experiences and Products division reported revenue of $32.3 billion in the fiscal year that ended July 1, an annual increase of 6% since 2017. That’s despite the pandemic. Disney notes that the growth comes following the addition of Cars Land at Disney California Adventure, Star Wars Galaxy’s Edge at Disneyland and Walt Disney World, and Avengers Campus at Disney California Adventure and Walt Disney Studios in Paris.
According to Variety, the company intends to explore even more characters and more successful franchises, including some whose potential has not yet been exploited. Walt Disney Co. maintains that it has more than 1,000 acres of land still available for future development, the equivalent of seven new Disneylands. Meanwhile, Disney Cruise Line will nearly double its cruise capacity over the next two years, including the opening of a new home port in Singapore, which should allow it to further expand the cruise market. Asia-Pacific.
Disney’s announcement, however, was greeted with caution by investors, with its stock falling just over 3.5% Tuesday morning on the New York Stock Exchange.
