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."
Get Walt Disney World News Delivered to Your Inbox