Disney has had a bumpy year in most of its sectors. It’s been a difficult summer for film, Disney+, though popular, has yet to turn a profit, and cable TV has been in decline for quite some time now. There’s one area, though, that has been a beacon of hope for the colossal company: theme parks. According to The New York Times, Disney’s theme parks are estimated to generate $10 billion in profit this year, as compared to 10 years ago, when they brought in $2.2 million. In the face of this information, Disney is looking to reinvest, and reinvest big.
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A recent security filing by Disney revealed that the company is looking to invest around $60 billion over the next ten years into its global theme parks, as well as its cruise line. For comparison, this is about twice as much as the company invested in these sectors over the last ten years.
“There are far fewer limits to our parks business than people think,” Disney CEO Robert Iger said in a recent email. “The growth trajectory is very compelling if we do nothing beyond what we have already committed. By dramatically increasing our investment — building big, being ambitious, maintaining quality and high standards and using our most popular I.P. — it will be turbocharged.”
Chairman of Disney Parks, Experiences and Products Josh D’Amaro commented on the commitment to theme parks, noting that the sector has continued to be profitable, even in the face of the pandemic and frequent heat waves. D’Amaro also speculates on what continued investment into Disney Parks could mean for park guests. “Every time there has been a moment of crisis or concern, we have managed to bounce back faster than anyone expected,” he said. “Imagine bringing Wakanda to life. In terms of bringing the latest Disney-Marvel-Pixar intellectual property to the parks, we haven’t come close to scratching the surface. And we have learned that incorporating Disney I.P. increases the return on investment significantly.”
