Walt Disney Co. is nearly doubling its investments in its parks and cruise lines.
This is what the company outlined Tuesday morning in its securities filing for its Disney Parks, Experiences and Products division.
In the filing, it was revealed that the company would spend $60 billion over 10 years “investing in the expansion and improvement of domestic and international fleets and cruise line capacity, prioritizing projects that are expected to generate strong returns, consistent with the Company’s ongoing strategy. approach to allocate capital in a disciplined and balanced manner.
This is the company’s latest money move.
Last week, Disney was in “exploratory talks” about selling its ABC network and television stations, possibly to KTLA parent company Nexstar, Bloomberg reported.
According to The Hollywood Reporter, the company held an investor presentation on Tuesday and revealed that it has more than 1,000 acres of land available to expand its parks in California, Florida, France, China and Japan. The expansion also included cruise ports in the United States, Asia and Australia.
“As previously announced, over the next two years, Disney will nearly double its cruise line’s global capacity, adding two ships in fiscal 2025 and another in 2026, providing even greater growth potential and opening new markets for Disney experiences, including a new home base in Singapore starting in 2025 to expand its reach further into the Asia-Pacific region. the company said in a statement obtained by the outlet.
The entertainment giant then explained that its parks still have many fans that it has yet to reach.
“According to Disney’s internal research, there is an addressable market of more than 700 million people with a strong affinity for Disney that it has yet to reach with its parks,” the company continued. “In fact, for every guest who visits a Disney park, there are more than ten people with a Disney affinity who do not visit the parks.”
