The Walt Disney Company announced plans to nearly double its capital expenditures in its Parks, Experiences, and Products segment over the next 10 years, amounting to an impressive $60 billion.
This ambitious expansion will encompass both domestic and international parks, as well as an increase in cruise line capacity.
The announcement was made during an investor summit at Walt Disney World Resort, where senior Disney executives, including CEO Bob Iger and Disney Parks, Experiences and Products Chairman Josh D’Amaro, met with Wall Street analysts and investors. The summit highlighted Disney’s aggressive and intelligent investment strategy, which capitalizes on its vast library of stories.
Bob Iger emphasized the company’s financial stability, stating, “The company is able to absorb those costs and continue to grow the bottom line and look expansively at how we return value and capital to our shareholders.” D’Amaro added, “We have an ambitious growth story that is supported by a proven track record and a bold vision for the future of our Parks business.”
The company’s growth strategy is built on three pillars: stories, scale, and fans.
Stories: Disney’s unparalleled library of intellectual property is brought to life in its Parks and Resorts, cruise ships, and consumer products. From “Avatar” to “Zootopia,” fans can immerse themselves in their favorite Disney tales. While new attractions like Frozen-themed lands are already in the works for various parks, Disney plans to explore even more characters and franchises in the coming years.
Scale: With the largest physical footprint in the global theme park industry, Disney has significant room for further expansion. D’Amaro noted, “We stand alone when it comes to scale.” Disney Parks has over 1,000 acres of land available for future development, and the Disney Cruise Line is set to nearly double its capacity in the next few years.
Fans: Disney Parks attract approximately 100 million guests annually, with Walt Disney World’s Magic Kingdom Park holding the title of the most attended theme park globally. However, Disney believes there’s still a vast market of fans yet to be reached. D’Amaro emphasized the importance of the guest relationship, stating, “Guests can spend a day with us at our Parks, a week with us on a Cruise, or the rest of their lives with us through Disney Vacation Club membership.”
As Disney embarks on this new chapter of growth and expansion, fans worldwide can anticipate even more immersive experiences, innovative attractions, and unforgettable memories.
