Dow Jones giant Disney unveiled major upcoming additions to its theme parks over the weekend, giving fans a peek at the multibillion dollar overhaul.
Disney hosted its D23 Expo in Anaheim, California from Aug. 9 to 11, where it showcased a slate of new offerings and expansions at Disney Parks and Disney Cruise Line, as well as a host of upcoming movies.
The entertainment behemoth announced plans for six new themed areas at its parks and 14 new attractions across its Disney parks, as well as four new cruise ships. The upgrades are part of its $60 billion park expansion over the next decade. Disney announced the investment in September 2023, which nearly doubled its capital expenditures for its parks, experiences and products business.
New Attractions
The plans call for the largest-ever theme-land expansions to the Magic Kingdom park at Walt Disney World Resort in Orlando, Fla. One of the projects is a villains-themed land based on Disney's popular antagonists. Work on the land is underway with two new attractions planned as well as dining and shopping experiences.
The Pixar series "Cars" will also receive two new attractions at a reimagined section of Frontierland, which will include an off-road rally race ride and a family-friendly attraction.
Disney's Animal Kingdom in Orlando is also getting a new land, which will be called Tropical Americas. The 11-acre section of the park will reportedly replace DinoLand USA and feature two new attractions based on "Indiana Jones" and "Encanto."
Tropical Americas will open in 2027, Disney announced.
Meanwhile, "Monsters, Inc." will get a new land at Disney's Hollywood Studios at Walt Disney World, in Florida. The new attraction features a tour of the Laugh Factory from the films. It will also feature the first suspended roller coaster in a Disney Park.
Shifting to California, new lands and attractions based on the Avengers and "Avatar" are coming to Disneyland Resort. The company announced plans to double the size of its Avengers campus to house new Marvel-themed attractions. Disney is also working on a new "Avatar" attraction inspired by "Avatar: The Way of Water" and upcoming films for Disney California Adventure Park.
"Work is well underway on all of the new projects we announced, and fans will start to see them come to life in the near future," Disney Experiences Chairman Josh D'Amaro said at the D23 Expo.
Disney Stock
The D23 Expo announcements come after Disney on Aug. 7 reported a 2% increase in parks and experiences revenue to $8.38 billion. Domestic park sales rose 3% while international park revenue increased 5%.
However, operating income for the business segment declined 3% for the third quarter. Operating income for domestic parks fell 6%.
Disney forecasts Q4 operating income for its experiences business will decline in the mid-single digits due to moderation in domestic demand. For international parks, the Olympics caused a reduction in traffic to Disneyland Paris. Meanwhile, there's some cyclical softening in China. Disney is actively monitoring attendance and guest spending and managing its cost base.
Disney stock ticked lower Monday.
Shares so far retreated 4.8% in 2024 after tumbling from early April highs.
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