Disney to invest $30B in its theme parks over the next decade
Disney plans to invest $30 billion into Disneyland, Disney California and other theme parks worldwide over the next decade, according to a new financial report.
(KTLA) - Disney plans to invest $30 billion into Disneyland, Disney California and other theme parks worldwide over the next decade, according to a new financial report.
Last September, the entertainment giant made headlines after announcing plans to spend $60 billion over the next decade on its theme parks and cruise lines that would enhance capacity.
The latest U.S. Securities and Exchange Commission filing breaks down how Disney plans to spend that money.
About $30 billion has been earmarked for theme parks and resorts, $18 billion will be set aside for technology and maintenance and $12 billion will fund new Disney cruise ships, bringing the company’s total fleet size from five to eight.
The $30 billion set aside for theme parks will be used for “magical new experiences and refreshing existing infrastructure,” according to the SEC filing.
Disney previously told investors that it hopes to expand the footprints of its theme parks in the U.S. and internationally where the company said it had more than 1,000 acres of developable land.
The breakdown of how the company plans to spend its $60 billion investment comes after the Anaheim Planning Commission approved the Disneyland Forward project proposal for the Disneyland Resort on Tuesday.
The plan details how officials want to update and renovate the Anaheim theme park. The project will include new attractions, shops and restaurants within its existing 490-acre footprint.
The Anaheim City Council is expected to vote on the proposal in April.
While Disney hasn’t officially announced how the theme park expansion will materialize, many Disney fans have theorized that Disneyland could get lands inspired by “Tangled,” “Frozen,” or “Zootopia,” along with other properties that have come to life at other Disney theme parks.
Disney Parks Chairman Josh D’Amaro also talked about the possibility of bringing Frozen’s Arendelle, Black Panther’s Wakanda and Coco’s Santa Cecilia to life in some capacity at the “Happiest Place on Earth” and potentially its sister park in Orlando last year.