Disney provides new update on its $60 billion Parks and Experiences spending plan

Mar 11, 2024 in "The Walt Disney Company"

Posted: Monday March 11, 2024 7:00pm ET by WDWMAGIC Staff

In a new filing with the SEC, the Walt Disney Company has provided an update on its plans to spend $60 billion in a 10-year investment plan for the Parks and Experiences segment.

Disney says the money "supports investments to create magical new experiences and refresh existing infrastructure."

Approximately 70% of the $60 billion is earmarked for "capacity-expanding" investments, with 20% going to the Disney Cruise Line and 50% to be spent at parks and resorts. The remaining 30% is destined for "tech and maintenance."

Further, Disney says investments will focus on:

  • Accelerating storytelling by utilizing a wealth of intellectual property and untapped stories.
  • Expanding footprint with over 1,000 acres of available development across six existing resorts in North America, Europe, and Asia.
  • Investing in innovative technology to improve the guest experience.
  • Reaching new fans around the world.

You can read Disney's new SEC filing here.

Speaking at February's Q1 2024 earnings call, Disney CEO Bob Iger said, "As I've said before, we also have so many untapped stories just waiting to be brought to life in our parks across the globe as we continue to invest in this extraordinary business."

New Disney CFO Hugh Johnston expanded on future investments, saying, "We plan to invest approximately $60 billion into the business over the next 10 years, of which approximately 70% is earmarked for incremental capacity expanding investments around the globe, which we expect to attractive returns."

Disney announced last year its 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, including by investing in expanding and enhancing domestic and international parks and cruise line capacity.

Speaking in April 2023 at the Walt Disney Company Annual shareholder meeting, Disney CEO Bob Iger said that Disney plans to spend $17 billion over the next ten years, specifically at Walt Disney World, bringing 13,000 new jobs to the area.

In terms of timing, Iger said that the company is already hard at work at determining where new investments will be placed and what they will be. New additions will start opening in 2025, and there will be a cadence of additional investment and increased capacity every year.

In response to an analyst question about where and when we will see new investments, Iger said, "You can pretty much conclude that they will be all over, meaning every single one of our locations will be the beneficiary of increased investment and thus, increased capacity, including on the high seas where we're currently building three more ships and a business that is obviously extremely positive to us. We may look expansively in that direction. I'm not going to give you more of a sense of timing except that we're hard at work at getting these things basically conceived and built."

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spectromagic0414 hours ago

Mostly daytime entertainment or night? Or a combination of both? Hoping they put some emphasis on DAK

ToTBellHop15 hours ago

Wish I could elaborate.

Dan Deesnee17 hours ago

I remember reading this as well. The smart thing to do would have been to do both. Look at how epic universe is combining all these completely different intellectual properties. They're using these portals. How hard would it have been to do three parts to the land or even just two and have each part be dedicated to a specific era of movies? Not hard at all...

MisterPenguin17 hours ago

Sorry, I don't have the citation handy, but he did say he thought they should go with the sequels and he approved it based on TFA bringing in $2B Box Office. This was said mostly to protect Kennedy who was getting all the heat and people calling for her ouster. He made it clear it was his decision (too). Kooky conspiracy theories had Kennedy railroading "Disney" (as if "Disney" wasn't mainly her boss, Iger); or secretly springing the sequel setting all on her own into the parks. And thus, according to reliable internet sources, she was about to be fired. Six years later...

flyerjab18 hours ago

What 2025 entertainment are you referring to?

Dan Deesnee19 hours ago

Spot on. SWGE is mediocre and I really hope any new lands that they do as part of these new expansions are significantly better. And don't even get me started on rise of the resistance. It's an 8 out of 10 at best. The ride almost NEVER operates correctly. It has one thrilling moment and that's the drop at the end. And also has some cool tech here and there but overall as a ride it just isn't that great. You basically scoot around, get shot at a couple of times and then do the drop pod sequence. The guns at the end with the big war going on outside the windows would be cool, if the guns ever actually moved back and forth like they're supposed to. I've rode that ride 10 times. 1 time one of the guns was working. Every other time none of them moved at all and we just did a weird stop start motion.

capsshield19 hours ago

When a person starts a business they have to take huge risks and investments. As a business grows the risks and investments are easier to digest. Disney however has completely lost this spirit of risk and investment due to placing more value on its stock than working to satisfy its customers old and new. Clearly the profits wdw makes each year is more than enough to expand those parks, and yet the profits are diverted into many other avenues like cruise ships, and disney plus, or buying other studios. By diversifying the nest they have built a company to big to fail, but it came at the cost of the parks upkeep and expansion. Each division needs to begin to rise or fall on its own merits no mater how painful it may be to some divisions. The days of diverting funds needs to stop. The days of overpaying upper management need to stop. The days of prioritizing stock value over the risks of investment need to stop. Will there be failures yes. Will there be successes yes. A good leader knows how to calm and brave the storms and steer their ship into new territories and frontiers. I look at how they have decided to cut back the Marvel movies and Disney plus shows because they say it's a quality over quantity issue. Not really though, it's too much woke for the sake of woke and straying too far from the comics. Also using "b and c" level characters and expecting "a" level performance is unrealistic. The only "a" level character they have used is Thor and Loki and he's a villian. So instead of giving us "a" level we get poor leadership decisions and then reduced output. The whole company runs like that because the board of directors wants control over its upper management not someone that fights for risks. When it comes to the parks The reason everything is IP based is so they can sell highly profitable products. The reason we now get themed lands is because they can sell more food and products. I personally think the parks are like a gateway drug, and the movies are like the first ones free fix and we line up to introduce our kids to the insanity.

𝕴𝖒𝖆𝖌𝖎𝖓𝖊𝖊𝖗9719 hours ago

When did he ever acknowledge that was a mistake?

MisterPenguin20 hours ago

Good thing he doesn't think he's invincible when he took the blame: for making SGE the sequels for rushing out Solo for spending too much on content in the Great Streaming War for letting studios churn out stuff during the pandemic without proper supervision

wdwfan4ver21 hours ago

Pandora is the best land mentioned. TSL is underwhelming although it is a little bit better now than when the land first open. Having BBQ place does help the land a little and the Queue for Slinky Dog is not as bad for shade as it was when it was first opened. SWGE is not a great land and I think it is based on personal taste to a point. The land is locked on a certain period in the Star Wars Universe and Rise of the Resistance is known to breakdown. Don't try to play "spin doctor" on Rise of the Resistance because there is no excuse for it including Kylo in "B Mode". MMRR is decent. Rat is a copy of a decent ride. GOTG still has that stupid virtual queue.

Sirwalterraleigh21 hours ago

usually its because they have a trip to port orleans coming up…and everything not Rainbows takes them out of their “happy planning place”

erasure fan121 hours ago

Right on. If all of that was built as new, and didn't replace something directly or indirectly. He would have a leg to stand on. Unfortunately park expansion hasn't been anywhere near what it should for demand. I'm not really sure how that can be disputed.

Sirwalterraleigh21 hours ago

Pandora is the best…the others are mostly solid. And would be very impressive if they were adds…which an astonishing only ONE is… And the one on that list often lauded will age the worst and is already falling apart. And just blah when you get down to it.

Tha Realest22 hours ago

Rhode’s been gone (Pandora), TSL and SWGE underwhelming for what it cost ($$ and space), Rat’s a copy, MMRR is *fine* and GotG is nice.