Bob Iger sheds light on Disney's response to upcoming Universal Epic Universe in Orlando

Apr 03, 2024 in "The Walt Disney Company"

Posted: Wednesday April 3, 2024 2:22pm ET by WDWMAGIC Staff

At today's Walt Disney Co. Annual Shareholders meeting, Disney CEO Bob Iger was asked about Universal's 2025 opening of Epic Universe in Orlando and how Disney has responded to the competition for theme park guests.

Iger said, "We've been aware of Universal's plans for a new park for more than a decade. And we have a sophisticated approach to analyzing the needs of all of our businesses and strategically deploying capital."

He went on to list recent openings at Walt Disney World, including Star Wars Galaxy's Edge, the EPCOT transformation, and TRON Lightcycle Run at Magic Kingdom.

Iger continued, "By staggering these major launches, we've been able to commercially and operationally optimize our new offerings over time, rather than having to do it all at once. And based on the guest experience that we've heard all about, from all of these items that I just mentioned, we know that they're extremely popular and they're serving our guests extremely well."

According to Universal, "Epic Universe will present a level of theme park immersion that is unmatched – transporting guests to expansive worlds featuring more than 50 awe-inspiring attraction, entertainment, dining and shopping experiences that come together to create an unforgettable adventure that is nothing short of epic. The addition of Universal Orlando's fourth theme park will also transform the award-winning resort into a weeklong vacation destination filled with even more compelling experiences. "

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Advisable Joseph1 hour ago

I do not follow your logic. :(

MisterPenguin2 hours ago

Except that Iger touted all the expansion areas they have seemingly ruling out a fifth gate in favor of expanding.

Advisable Joseph2 hours ago

Dennis Spiegel has been telling the news what he has been hearing about a fifth gate since earlier this year, before the reveal of the new development document. He was inducted into the International Association of Amusement Parks and Attractions Hall of Fame in 2022, so he is pretty much an insider.

MisterPenguin3 hours ago

Indeed. The old land use plan had area set aside for a new park if Disney wanted to build it. The new land use plan has area set aside for a new park if Disney wanted to build it. Nothing has changed except for people not knowing about the previous land use plan or even what a land use plan is all about and reading into it.

Advisable Joseph4 hours ago

There's also this recent article from the Orlando Sentinel. (Use desktop mode or a computer.) Dennis Speigel, CEO and "founder of International Theme Park Services, which provides management and development services" talks about the fifth park he has been hearing about. Jim Hill is also quoted, but he seems confused, claiming something about "decades," which sounds more like DisneylandForward.

Nubs705 hours ago

Building more corporate real estate at this time would be nothing more than an ill advised vanity project

Sirwalterraleigh7 hours ago

Economics…no denying this one

Tha Realest9 hours ago

With what we’re seeing at the Polynesian and TBA ride through POV, I’m fine with them pausing spending for a bit.

donsullivan10 hours ago

Lots of people misinterpreting what was announced this week. The development agreement is NOT a commitment by Disney to spend a dime or to build anything at all over any period of time. By Florida law, the district is required to publish a development plan every decade of what growth they see within the district and how they’ll meet the infrastructure requirements to support that growth. That plan identifies eligible real estate that ‘could’ be developed for various purposes during the term of the plan. I’m pretty sure the option to build a 5th theme park has been in at least the last 2 master plans for the former RCID but Disney never moved forward on that option. This is nothing more than the district and Walt Disney World stating this is the MAXIMUM they could build during that period. They are not committing to do any of what’s in there. This link will take you to a good description of what they produce https://www.oversightdistrict.org/procurement/planning-development/ All that was announced is an agreement of the absolutely maximum that Disney might decide to do that will then be incorporated into the districts 10 year Development Plan. The last one got mucked up by COVID and politics. This one will replace that and become the basis for the next decade or so of development on the land. Now that they have this agreement in place, Disney can go ahead and decide what projects they’d like to move on within the bounds of the agreed development plan for the overall property and work with the district for roads and other infrastructure needed to support that development.

peter1143511 hours ago

Yep. Let the record state that this is one of the rare occasions where I agree with you.

Skibum197011 hours ago

For me, this is one of those, "I'll believe when I see it" moments.

Sirwalterraleigh11 hours ago

They are absolutely not

Sirwalterraleigh12 hours ago

We don’t have to go back to high rises to look at the failures now. Tower was built in about 14 months flat. Splash about the same…the entirely of Epcot in 4 years… Meh…they don’t get things done because they’ve decided it looks “smart” that way. Construction is 1000x easier now with computer controlled design and fabrication…in many ways guys are rhere to weld and bolt. But nobody beats Bob and the B team!! Crazy how they just worked to get it done then, huh? It’s repetitive…but it’s also a silly concept based mostly on a flopped movie. I’m trying to figure out how you think you’re paying more? I’ll meet you on the playground with my receipts anytime you want 👍🏻 Also…what exactly does that matter? Are you say the more you spend, the more you “submit” and make excuses for Disney? …oh…that would be grand 😍

John park hopper12 hours ago

5th park called DVC Land ----multiple generic high rises adding 13,666 more rooms.