Disney Parks and Experiences continuously change and we’re hearing those plans aren’t stopping any time soon.
Disney has just stated that their plans to continue growing their parks, cruise lines, and experiences are, not going anywhere, but instead increasing. Here’s what we know!
Disney just announced that they plan to double the amount invested in their Parks, Experiences, and Products (DPEP). This includes investing around $60 billion over the next 10 years! This is double what the company has invested in DPEP in the last decade.
The Walt Disney Company is developing plans to accelerate and expand investment in its Parks, Experiences and Products segment to nearly double capital expenditures over the course of approximately 10 years to roughly $60 billion. https://t.co/1eW1dMwkw2 pic.twitter.com/Lg5RkobhMN
— The Walt Disney Company (@WaltDisneyCo) September 19, 2023
Bob Iger, Disney CEO, mentioned the company has 1000 acres between the current parks of room to grow the parks. That’s enough land to create seven Disneylands!
The company intends on “investing in expanding and enhancing domestic and international parks and cruise line capacity, prioritizing projects anticipated to generate strong returns…” This could also mean adding new characters and franchises, some that haven’t been used in purposeful ways previously.
The company shared that their parks and experiences account for much of their income growth. Adding high spending ability in these areas could dramatically increase their profits.
Mr. Iger stated in an email, “There are far fewer limits to our parks business than people think. The growth trajectory is very compelling if we do nothing beyond what we have already committed,” he continued, referring to attractions and ships that have been announced but are not yet operational. “By dramatically increasing our investment — building big, being ambitious, maintaining quality and high standards, and using our most popular I.P. — it will be turbocharged.”
Disney showed that most of their revenue and growth is not in their pricing strategies but in other commercial strategies. So taking a look at ways to improve and expand on guest experiences may increase the growth seen by the company.
Interestingly, after the company’s announcement to increase spending on areas within DPEP where they could see higher growth and revenue, stocks for the company declined nearly 3% in a matter of hours on Tuesday morning.
We’ll keep you updated as we learn more about what this large investment might mean for the future of Disney Parks, Experiences, and Products!
Until then, check back to All Ears for more Disney news!
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What do you hope Disney brings to the parks? Let us know in the comments!
High time for a Villians park and a Disney Sea park.