News Disney plans to accelerate Parks investment to $60 billion over 10 years

[peter11435]

it really could be for anything, roads, street lamps, landscaping, laundry services, bathrooms, etc.

Yes, and all of those things are necessary and all of those things have always come out of capex budgets.

 

[Indy_UK]

You see no reason?

Business conditions, economy, CEO change, interest rates, budget cuts, etc etc etc just to name a few.

Hoping for the best, but preparing for the worst. I’ve been around long enough to know even when the shovels come out, what we end up with isn’t always what was originally announced or within the concept art as well.

Don't know what you're on about. They always stick to the concept...

 

[lazyboy97o]

Don't know what you're on about. They always stick to the concept...

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Yeah, it’s such a shame they didn’t spend the money on meet and greets.

 

[doctornick]

No it’s still $60. You’re just learning how it will be divided up. Capex totals are always divided in a similar way with varying percentages.

Yes. They announced a commitment to spend $60B in a specific company division in the next 10 years. This announcement provided more specifics on how that $60B will be divided. It’s fine to be disappointed that they aren’t spending a greater percentage of that money on the parks, but there’s nothing they’ve “promised” and then retracted subsequently.

 

[Sirwalterraleigh]

They won’t. They never do. They just find something new to complain about.

They went on a marathon in the latter half of the 2010s. I see no reason why the $30B wouldn't be even larger.

It’s cute to go for the hook, the line and dvd sinker from Big Shot Bobby without ever looking at the flaws in that plan

 

[Sirwalterraleigh]

Yes. They announced a commitment to spend $60B in a specific company division in the next 10 years. This announcement provided more specifics on how that $60B will be divided. It’s fine to be disappointed that they aren’t spending a greater percentage of that money on the parks, but there’s nothing they’ve “promised” and then retracted subsequently.

They haven’t earned a level of trust to be believed about this…or really much of anything at this point.

The amount of PR based financial “posturing” that’s gone on in the last year has eclipsed really any period of history for TWDC.

 

[peter11435]

It’s cute to go for the hook, the line and dvd sinker from Big Shot Bobby without ever looking at the flaws in that plan

You really just post to hear yourself talk these day.

 

[LSLS]

They won’t. They never do. They just find something new to complain about.

Honestly I don't think the skepticism is that misplaced. And it's really Disney's doing. When you go two straight years where your big announcements for WDW (which is what most here care about) have been "Wouldn't it be cool if we did something like this. No plans, and it's not even approved, but imagine," people are skeptical about all this new stuff. Add on the Iger speak of (again) "We have enough land we COULD do 7 parks," and the construction people are seeing right now being DVC and one rethemed ride, and people just aren't jumping up and down at the numbers yet.

I will say I personally have no doubt they are intending to spend that money (like has been said, it's been filed, they HAVE to have intention), but I don't think you can discount things change (proxy fight could be a major thing), especially when nothing has been announced or even started. People just don't believe in the company to do things they say at this point.

 

[Brer Panther]

So does a good chunk of this being spent on maintenance = actual maintenance for the rides and attractions again? I frequently see people complaining about the lack of maintenance on attractions in the parks nowadays...

 

[MisterPenguin]

What a shock, things are already getting watered down.

30% isn't likely to be enough either to completely re-do their IT and websites is it?

Yeah! You're not going to get very far with only $18B. It's a mere pittance!!

 

[MisterPenguin]

$60B in investments.

70% in Experiences growing capacity. That's $42B for all the parks and cruise lines.

WDW gets $17B. That's 40% of the $42B for all the parks and cruise lines.

Star Wars Land was $1B. So... that's 17 more lands on the order of SWL. And even if only half of that is spent on new park footprint, that's at least 8 new mega-lands in the next decade. Much more lands if they're mini-lands.

 

[yensidtlaw1969]

Is it though? I'm not denying they'll eventually do something, but I can guarantee you it won't be everything we are hoping it will be or even 100% whatever they decide to officially announce and present in concept art. I've seen how this game works over many years.

Don't forget whatever they do, will likely take 3-5 years even when the shovel hits the ground, which they should have started years ago. There is going to be a few years of what I consider stagnation at the parks which isn't good timing in my opinion. They'll probably introduce some new things (shows, parades, etc.) to help, but as far as "new" expanding lands and attractions go... we're probably looking at around 2030.

Also don't forget a potential CEO change and other budget cuts along the way...which is why I'm in the I'll believe it when it is built and opens camp. Don't get me wrong, I'm hoping for lots of new and exciting things...it' desperately needed...but I'm not convinced they understand that like we do.

Quoted for posterity.

 

[Andrew25]

Remember that some of that capital will be utilized for room renovations, infrastructure upgrades, transportation, etc.

BUT, I do think they are finally convinced (and incentivized, thanks Universal), to improve capacity in the parks for a better experience.

 

[Horizonsfan]

$60B in investments.

70% in Experiences growing capacity. That's $42B for all the parks and cruise lines.

WDW gets $17B. That's 40% of the $42B for all the parks and cruise lines.

Star Wars Land was $1B. So... that's 17 more lands on the order of SWL. And even if only half of that is spent on new park footprint, that's at least 8 new mega-lands in the next decade. Much more lands if they're mini-lands.

Wouldn’t the $17B for WDW follow the same over arching formula (minus the DCL allocation)? That would translate to $6.4B set aside for tech/maintenance at WDW, with $10.6B left for expansion/refreshes. As Andrew25 points out above, hotels, water park, and other non-theme park alterations could also slice that $10.6B down further.

Still a substantial allocation.

 

[Andrew25]

Wouldn’t the $17B for WDW follow the same over arching formula (minus the DCL allocation)? That would translate to $6.4B set aside for tech/maintenance at WDW, with $10.6B left for expansion/refreshes. As Andrew25 points out above, hotels, water park, and other non-theme park alterations could also slice that $10.6B down further.

Still a substantial allocation.

Yeah, definitely not trying to be being pessimistic, just realistic. Don't want to set up yourself for disappointment if you expect 17 new lands on the scale of Star Wars land lol

I'm more confident in the Disney Parks than I was 2-3 years ago, but I also don't expect mega expansions at every park.

 

[lazyboy97o]

Honestly I don't think the skepticism is that misplaced. And it's really Disney's doing. When you go two straight years where your big announcements for WDW (which is what most here care about) have been "Wouldn't it be cool if we did something like this. No plans, and it's not even approved, but imagine," people are skeptical about all this new stuff. Add on the Iger speak of (again) "We have enough land we COULD do 7 parks," and the construction people are seeing right now being DVC and one rethemed ride, and people just aren't jumping up and down at the numbers yet.

I will say I personally have no doubt they are intending to spend that money (like has been said, it's been filed, they HAVE to have intention), but I don't think you can discount things change (proxy fight could be a major thing), especially when nothing has been announced or even started. People just don't believe in the company to do things they say at this point.

The issue isn’t skepticism, it’s the blatant contradictions.

We’re posting on the news and rumors part of one of many places on the internet dedicated to discussing what might be happening at theme parks. As lame as the Blue Sky announcements were they’re also the sort of things fans constantly say they want to see. It’s also exactly what a lot of people in this thread have been complaining about not getting. Disney being more specific about a ten year plan would involve announcing a lot of underdeveloped concepts.

A lot of people complaining also think the company would benefit from board members who would advocate for more things like DVC over attractions.

Future events are also kind of ridiculous. New leadership changing course is right in line with what is supposedly desired because many say any change away from Iger is good. An economic downturn would reasonably change things and they’d change things at Universal too despite people pretending otherwise.

 

[Bocabear]

It feels like they have spent a lot of time and money recently on the parks with very little of substance to show for it... DHS is a better experience overall, but now it is more crowded and needs more...the new development also shines a spotlight on parts of the parks which desperately need work... for DHS it's the Animation Courtyard/Indiana Jones front half of the park. At MK Tomorrowland needs cohesion and a few new attractions, in EPCOT Imagination must be updated and refreshed, WOL needs to be reimagined and reopened. DAK needs the Chester and Hester area to be reimagined and a couple new attractions... The more they do, the more they draw in crowds...and as the ticket, food and lodging prices continue to soar, the experience at the parks seems more stressful and less magical....

 

[LSLS]

The issue isn’t skepticism, it’s the blatant contradictions.

We’re posting on the news and rumors part of one of many places on the internet dedicated to discussing what might be happening at theme parks. As lame as the Blue Sky announcements were they’re also the sort of things fans constantly say they want to see. It’s also exactly what a lot of people in this thread have been complaining about not getting. Disney being more specific about a ten year plan would involve announcing a lot of underdeveloped concepts.

A lot of people complaining also think the company would benefit from board members who would advocate for more things like DVC over attractions.

Future events are also kind of ridiculous. New leadership changing course is right in line with what is supposedly desired because many say any change away from Iger is good. An economic downturn would reasonably change things and they’d change things at Universal too despite people pretending otherwise.

Maybe it's that the blue sky stuff needs to be nailed down a bit more. I mean, I hate a lot of the thought process on it (lands dedicated to one IP) but I'd be happy with expansion. Now, I'm a ways away from being in that thread, so I could be remembering completely wrong, and maybe that's why I thought the skepticism was warranted, but I don't remember it being "We are going to develop this land. We are currently designing ideas for it." I remember it more as we have this land we COULD develop, and we could do something like this. I guess I don't remember it being a concrete 10 year plan, I remember it as there being nothing to announce in the pipeline, so here is some things people have pitched as ideas. Then the next year it was different stuff. Maybe it gets nailed down at D23 this year a bit more, and that would change a lot of (at least my) perspective.

And I don't think it's totally ridiculous. You are correct, a host of things could happen that impact Disney, or ALL theme parks. But that's kind of my point. I think people are skeptical when nothing has started in terms of WDW with that large amount of money. It's a lot easier when something happens to cancel a project that is not even really in a development phase than it is for one where the structure has started (and I'm not saying it could never happen, or wouldn't happen, etc. Just that it's easier to justify when money hasn't yet been invested).

I don't know, I get it's easy to dismiss the same people who do seem to complain about everything (and they deserve it as much as the people who praise everything). But I do understand there being some of the "Lets see some of these plans already" with it being talked about as much as it is.

 

[JoeCamel]

$60B in investments.

70% in Experiences growing capacity. That's $42B for all the parks and cruise lines.

WDW gets $17B. That's 40% of the $42B for all the parks and cruise lines.

Star Wars Land was $1B. So... that's 17 more lands on the order of SWL. And even if only half of that is spent on new park footprint, that's at least 8 new mega-lands in the next decade. Much more lands if they're mini-lands.

But how many DVC towers will it buy?
Bob wants to know

 

[flynnibus]

Yes, and all of those things are necessary and all of those things have always come out of capex budgets.

Yet usually aren’t note worthy enough to be part of your ‘we’re saving the company’ and know what we are doing pitch…