Disney is planning to increase future investments in its theme parks, resorts, and Disney Cruise Line. According to CNBC, Disney plans to double its planned investments to $60 billion over the next 10 years as they stated in a securities filing.
Disney noted that they have more than 1,000 acres of land available across its many properties where they could expand. Josh D’Amaro, Disney Parks Chairman, said that Disney plans to bring its latest Disney, Pixar, and Marvel intellectual property to the parks. D’Amaro specifically mentioned the idea of bringing Marvel’s Wakanda to life.
This news comes as Disney is recognizing that its parks division has become the strongest leg of its business. While Disney’s television, movies, and streaming projects have been losing considerable amounts of money, Disney’s parks division remains super profitable.
The news also comes as Disney’s biggest domestic theme park competitor, Universal, is preparing to open a new theme park in Orlando. Fans have wondered what Disney plans to do to counter Universal, and the 10-year investment appears to be the response.
As exciting as increased investment is for Disney parks fans, it’s the latest edition of Disney talking about theme park expansion without any concrete plans. It’s similar to Disney talking about Blue Sky plans at Magic Kingdom or the latest concepts mentioned for Disney’s Animal Kingdom at Destination 23. No significant expansions have been finalized for the domestic parks.
Disney’s slow construction schedules mean it’ll be several years before guests see any of these planned investments take shape. Did Disney wait too long to capitalize on the strongest portion of its business? Are they waiting too long to counter the competition?