In an interview with CNBC this evening and comments made during the 2023 Q4 earnings call, Disney CEO Bob Iger spoke about the company's investment plans for the parks.
Despite announcing today that cost-cutting would be increased from the previously announced $5.5 billion to $7.5 billion, Iger remains confident in the performance of the parks, saying they are "a great place to place our bets."
He continued, "We felt, in looking at the results of the parks, since the returns have been so strong, we felt, why not invest more?"
Iger said that "turbo-charging growth in the experiences business" remains one of the four key building opportunities he sees as central to Disney's success.
Backing up his strategy, Iger pointed to this year's Walt Disney World numbers compared to pre-pandemic levels in Fiscal '19, where Disney has seen growth in revenue and operating income of over 23 and 30%, respectively.
Over the last five years, the return on invested capital in domestic parks has nearly doubled. Iger also says that there has been improved guest experience ratings at every one of the parks.
Iger wrapped up his opening earnings call introduction on the parks saying, "Given our wealth of IP, innovative technology, buildable land, unmatched creativity, and strong returns on invested capital, we're confident about the potential of our new investments."
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