Disney Plans to Double Parks Spending to $60 Billion

Disney is doubling its spending on theme parks and products to the tune of $60 billion. Variety reported on the SEC filing from the company today. In the brief, Disney acknowledged the growth of their parks division and pledged to invest in different franchise opportunities at all the parks locations across the world. The company argued, "there is still enormous untaped potential for reaching more consumers." There are plans for more additions like the Cars Land at Disney California Adventure and the Frozen-themed attractions for Walt Disney Studios Park in Paris. Expect a renewed investment in Avengers Campus at the various Disney Parks as well.

The company said it, "will explore even more characters and franchises, including some that haven't been leveraged extensively to date, as it embarks on a new period of significant growth domestically and internationally in its parks and resorts."

"We believe that the company's financial condition is strong and that its cash balances, other liquid assets, operating cash flows, access to capital markets and borrowing capacity under current bank facilities, taken together, provide adequate resources to fund ongoing operating requirements, contractual obligations, upcoming debt maturities as well as future capital expenditures related to the expansion of existing businesses and development of new projects," Disney said in the 8-K filing with the SEC.

Walt Disney World Announces Recent Expansion

This all comes just a few weeks after Disney Parks teased the future of Walt Disney World. Bruce Vaughn, chief creative officer of Walt Disney Imagineering dropped some new updates about the Magic Kingdom. Last year's D23 brought an announcement of an expansion "beyond Big Thunder Mountain." This move is being heralded as one of the most monumental undertakings the park has ever attempted. It's clear that the path forward looks a lot like Star Wars: Galaxy's Edge at Disney's Hollywood Studios or the Pandora themed attraction at the Animal Kingdom resort. Expect bigger and more franchise focused fare from the company in the coming years.

When the first rumbles of additions to the Magic Kingdom surfaced last year, the "Blue Sky" nature of the project was apparent. (That means this was a conceptual phase rather than close to launching.) Concept art that was released teased a Coco attraction, another focused on Encanto and a Disney Villains-based attraction as well. Those three distinct areas were viewed as a large draw for prospective Guests. Since then, the Encanto attraction has been revealed as part of the Animal Kingdom. That "tropical Americas" area will take the place of Dinoland USA.

Moana Coming to Walt Disney World

Disney Parks isn't done leaning into the popular movie-based attractions either. This year, Walt Disney World announced that a Moana attraction is opening at EPCOT. On October 15 2023, fans can take part in Journey of Water, which is inspired by the beloved animated entry. Along with the ride announcement, Moana will be doing character appearances at an assigned spot in EPCOT. Destination D23 usually brings some movie-related announcement, but the company had to go heavy on the parks news with the writers and actors strikes continuing onward. Check out what they had to say about the Moana attraction down below!

"🌀JUST ANNOUNCED 🌀 Journey of Water, Inspired by Moana will open on Oct. 16, 2023! Moana will also arrive in World Nature this day and make her first appearance in her own dedicated space at EPCOT at @WaltDisneyWorld. 🌊 #DestinationD23 #Disney #DisneyWorld," Disney Parks told fans on on Instagram.

Are you excited about all the updates to Disney Parks? Let us know in the comments down below!