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

[johnparkhopper]

Bob is all about expanding capacity.....

In his wallet for more cash

 

[Sirwalterraleigh]

https://www.disneytouristblog.com/inside-imagineering/

"What I found more interesting was that, after D’Amaro spoke, Iger wanted to say a bit more. Here’s where he put a finer point on things, explaining things in terms that would normally be reserved for earnings calls. That they have reviewed performance of various divisions of the company, and it just made sense for the sake of shareholders, to invest more in Parks & Resorts. That they had the space, stories to tell, and there was guest appetite for expansion. The only thing they didn’t have, until this year, was the free cash flow.

Implicit in this seemed to be an acknowledgment that fans have taken an “I’ll believe it when I see it” viewpoint. Iger was indirectly ‘responding’ to that by pointing out the company has every reason to move full steam ahead on Parks & Resorts because that’s its best business. That the stars have aligned, so to speak, and the fans are about to get what they’ve been wanting.

This was especially significant, as was Iger’s presence at Imagineering in the first place, given that it was on the eve of the annual shareholders meeting. It’s safe to assume that Disney’s CEO is normally pretty busy, but especially so ahead of that–and in a year with a bitterly contested proxy battle. Against that backdrop, Iger’s being at Walt Disney Imagineering felt even more symbolically significant; it reflected where the CEO’s priorities are at that important moment in time."

So why did it make sense to ignore the domestic parks needs by and large for two decades?

…I’m sure we’ll get an answer

 

[Sirwalterraleigh]

I've added plenty.

You're welcome to start any time . . .

Way above my pay grade

 

[Gusey]

I've heard there's even more information to look forward to this month alone.

We should be getting some Disneyland Paris news next Friday too regarding the Walt Disney Studios Park expansion

 

[fradz]

Which park has gone 10 years without a new E-ticket, again?

Disneyland Park, Paris!

I can't even imagine how WDW fans would be reacting if they were on a 29 years dry spell

 

[Tha Realest]

There are financial reasons they couldn’t build post-COVID. Those things have been addressed, mostly related to other segments of the company as you are well aware.

The company internally views the parks now as the biggest growth potential and Iger is putting a legitimate effort to right the ship and is including Walt Disney Imagineering at every step of the process, including being back legends like Bruce Vaughn and Joe Rhode. They are not the only ones.

They’re basically about to add over $2B to each park in the world. What on Earth do you want them to do? Loads of this massive construction will begin in earnest over the next 12 months. Times have changed.

The “financial reasons” is that they foolishly spent billions on stuff like Willow, The Mysterious Benedict Society, The Marvels, Lightyear, Strange World, and Artemis Fowl.

 

[Jrb1979]

It's irrelevant. It's addressed now. Park expansion is about to get crazier than the 2010s.

A few E-tickets isn't enough.

 

[Trauma]

Everyone here knows I hate Iger and assume everything out of his mouth is a lie. However I really hope this is true.

My wife is really pushing hard to sell the DVC since she says the only thing Disney does is raise prices.

Hopefully I will have some hope for the future to show her.

 

[Sirwalterraleigh]

There are financial reasons they couldn’t build post-COVID. Those things have been addressed, mostly related to other segments of the company as you are well aware.

The company internally views the parks now as the biggest growth potential and Iger is putting a legitimate effort to right the ship and is including Walt Disney Imagineering at every step of the process, including being back legends like Bruce Vaughn and Joe Rhode. They are not the only ones.

They’re basically about to add over $2B to each park in the world. What on Earth do you want them to do? Loads of this massive construction will begin in earnest over the next 12 months. Times have changed.

I’ve heard the speech

 

[Sirwalterraleigh]

It's irrelevant. It's addressed now. Park expansion is about to get crazier than the 2010s.

That resulted in almost zero “expansion”

But you know that

 

[Tha Realest]

It's irrelevant. It's addressed now. Park expansion is about to get crazier than the 2010s.

But what happens if the “profit” of the DTC side doesn’t sustainably materialize? Or in a quarter or two the ledger dips back into loss territory?

 

[Sirwalterraleigh]

But what happens if the “profit” of the DTC side doesn’t sustainably materialize? Or in a quarter or two the ledger dips back into loss territory?

…hook…line…and sinker

 

[fgmnt]

The “financial reasons” is that they foolishly spent billions on stuff like Willow, The Mysterious Benedict Society, The Marvels, Lightyear, Strange World, and Artemis Fowl.

I don’t think you’re wrong but I would say you’re omitting the Hulu transaction closing. That was the largest hangup affecting the whole company; the CFTOD affecting the Florida property.

There are no more acquisitions to close.

There are no more material legal limbos to clear.

The proxy war is dead.

ESPN has gotten its first big infusion, with the NFL media equity swap likely going official before training camp if not sooner.

The Studios and distribution channels are hopefully being righted.

There could be no greater charge out of Burbank than to unleash a new direction on the parks. Time to step up to the plate and make it happen.

 

[pigglewiggle]

The “financial reasons” is that they foolishly spent billions on stuff like Willow, The Mysterious Benedict Society, The Marvels, Lightyear, Strange World, and Artemis Fowl.

That show was excellent and it's a shame it has been cancelled. Let's hope Percy has a better fate.

 

[MisterPenguin]

Indeed, I wasn't expecting all this announced commitment to new attractions until the beginning of next fiscal year (Oct).

 

[Sirwalterraleigh]

I don’t think you’re wrong but I would say you’re omitting the Hulu transaction closing. That was the largest hangup affecting the whole company; the CFTOD affecting the Florida property.

There are no more acquisitions to close.

There are no more material legal limbos to clear.

The proxy war is dead.

ESPN has gotten its first big infusion, with the NFL media equity swap likely going official before training camp if not sooner.

The Studios and distribution channels are hopefully being righted.

There could be no greater charge out of Burbank than to unleash a new direction on the parks. Time to step up to the plate and make it happen.

Well they seem to be untangling some of the mess moving forward?
Did we get a final bill for hula?
And I assume that disaster fox bill is improving now?

Indeed, I wasn't expecting all this announced commitment to new attractions until the beginning of next fiscal year (Oct).

Committing to parks doesn’t really effect a particular fiscal year…mainly because they can cancel whenever they want and the investment is spread out over multiple years

 

[Tha Realest]

That show was excellent and it's a shame it has been cancelled. Let's hope Percy has a better fate.

Well, for one, people are watching Percy.

 

[networkpro]

IMHO, its a tempest in a teapot. As a consumer option it will either be better or another substitute offering will take its place. Fortunately my exposure is limited to nostalgia and not tied down with anything like a DVC boat anchor.

 

[fgmnt]

Well they seem to be untangling sole of the mess moving forward?
Did we get a final bill for hula?
And I assume that disaster fox bill is improving now?

No matter what you could think of the 20th Century deal, we’re what, 5 years out from it? The Hulu piece was the last hit the company had to absorb. My impression has also been be 20th Century studios have been doing a lot better than the other studio brands. No one is coming to squeeze Disney out of money anymore except for Disney.

 

[Greg from Philly]

I would love to know who Mr Iger spoke to about these changes that said they were good. I think most new Disney releases were met with harsh criticism or mediocre excitement. I think it is great what a spinster upper level mamgt is, he is trying to make us believe that the glaciel rate at which Disney finishes projests in planned...."spread out instead of having everything at once." I do have to say that is quite a deceptive play on words. Kudos Bob, keep believing that