Within the fall of 2023, Disney introduced plans to double its funding in theme parks to $60 billion over ten years. At the moment, CEO Bob Iger spent an enormous chunk of time sharing “a few of what we’ve been as much as” with shareholders on the firm’s annual assembly, touting new lands and points of interest from Automobiles, Avatar, Lion King, Monsters Inc., Coco and extra.
The shareholders confab was calm and brief, in contrast to final 12 months’s fireworks when Disney efficiently fended off an aggressive problem by activist investor Nelson Peltz for 2 board seats.
“Final 12 months, we talked about our plans to turbo cost progress on this section by way of strategic investments,” Iger stated. “Proper now, we now have extra tasks underway around the globe than at any time in our historical past. Magic Kingdom is present process the biggest enlargement ever, together with a brand new space impressed by Automobiles and the much-anticipated Villains-themed land. A Monsters Inc. themed land is coming to Hollywood Studios.”
A brand new Tropical Americas land is coming to Disney’s Animal Kingdom with points of interest themed to Encanto and Indiana Jones. “We’re doubling the scale of Avengers campus with two new points of interest at Disney California Journey, a ride-through attraction themed to Coco can be coming to Disney California Journey as it’s the long-awaited Avatar themed vacation spot,” Iger stated.
Disneyland Paris will characteristic the primary ever ride-through attraction themed to the Lion King and Iger confirmed a mannequin from Imagineering. “As soon as accomplished, the majestic Delight Rock will function the gateway to an adventure-filled water attraction that can observe Simba on his journey from cub to king. And we are able to’t watch for friends to expertise this retelling of the basic animated movie.”
Iger added that Disney is “happy with the optimistic financial influence these tasks could have within the communities wherein we function, together with creating hundreds of recent jobs in Florida and California.” A Florida enlargement had appeared in danger till Disney final June dropped a case once more Florida Gov. Ron DeSantis, clearing the best way for $17 billion in deliberate improvement at Walt Disney World in Orlando.
The enlargement comes as Common prepares to open its huge, new Epic Universe theme park in Florida in Could, hoping to spice up its market share.
Disney can be ramping up its profitable Cruise Traces enterprise, the opposite prong of Disney Experiences, doubling capability. Final 12 months, it launched the Singapore-based Disney Treasure, the sixth ship in its fleet. It has one other seven cruise ships in improvement, together with the Disney Future and the Disney Journey, that are scheduled to launch later this 12 months.
In reponse to a number of shareholder questions, Iger stated the corporate is concentrated on constructing out its present parks and resorts, not including new places.
