Disney is doubling down on its theme park expansion plans.
The company announced in a filing with the U.S. Securities and Exchange Commission on Tuesday that it plans to spend $60 billion over the next 10 years on capital expenditures for its Disney Parks, Experiences and Products unit, which will take all of its theme park assets overseas.
This is double the amount previously planned to be spent. The funding will be used to “invest in expanding and enhancing capacity at domestic and international parks and cruise lines, prioritizing projects expected to generate strong returns.”
The expansion announcement comes just over a week after Disney announced various planned updates and changes to its parks, updating traditional attractions and unveiling what it calls the “largest ever” Magic Kingdom expansion.
The area beyond Big Thunder Mountain Railroad is being considered a bigger expansion pack than Star Wars: Galaxy’s Edge and Pandora: The World of Avatar. New attractions, restaurants and shows are on the table, but the project remains undecided for now, with no specific details on what Imagine engineers are studying and planning to do.
The American Dinosaur Land area at Animal Kingdom is also being redesigned, and the experience has been influenced by charm and indiana jones Movie. Look for the “Tropical America” theme with various biodiversity areas, but don’t be too quick to find it. Disney has not given a timetable for completion, but Bruce Vaughn, chief creative officer of Walt Disney Imagineering, noted, “There’s still a long way to go and a lot to discover, but the Imagineering team in Florida is ready.” Be prepared to meet the challenge.”
The extra spending could also be a response to Universal Studios, which is planning a massive expansion in 2025.
Disney will reveal more details about the announcement during its investor day on Tuesday.
While the company’s legal battle with Florida Gov. Ron DeSantis and problems with its streaming and TV properties have dominated headlines, Disney’s parks division has been a moneymaker for the company. In the third quarter, the company’s revenue grew 13% to $8.3 billion.
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