The Walt Disney Company plans to spend about $60 billion on its Disney Parks, Experiences and Products division in the next 10 years.
That nearly doubles what the company has spent on Disney Parks in the past 10 years, Disney said in a Securities and Exchange Commission filing on Tuesday.
The $60 billion will be for “investing in, expanding and enhancing domestic and international parks and cruise line capacity.” Earlier this month, Disney announced that a large expansion of the Magic Kingdom is in the works.
Disney said its “financial condition is strong,” enabling investment in expansion and development.
In slides included in the SEC filing, Disney said strong growth in Disney Parks’ revenue, which rose from $23.5 billion in fiscal year 2017 to $32.3 billion in the last 12 months of data as of the third quarter of fiscal year 2023. Operating income over the same time period rose from $6 billion to $9.2 billion.
From fiscal year 2019 to fiscal year 2022, Disney said, per capita guest spending at domestic parks grew 42%.
Disney said it has 1,000-plus acres of land around the world for potential development.
Source: Read Full Article