![Live news: Disney shares sink on plan to spend bn on theme parks over next 10 years Live news: Disney shares sink on plan to spend bn on theme parks over next 10 years](https://i0.wp.com/www.ft.com/__origami/service/image/v2/images/raw/https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F8ce03b81-09a8-46aa-be78-89ad52da8790.jpg?fit=%2C&ssl=1)
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Disney said it would double spending on theme parks, resorts and cruise lines to $60 billion over the next decade, sending its shares lower despite a boost from business units that have driven profit growth in the past year.
Disney shares fell more than 3% following Tuesday’s announcement and have fallen nearly 25% in the past year.
Disney theme parks performed strongly in 2022 as fans returned after Covid-19 shutdowns, and international parks saw a similar rebound this year, particularly in Shanghai.
Disney’s streaming business continues to lose money and box office disappointments come amid strength in the parks.
Svlook