News Disney to heavily reduce Capital Expenditures in the parks throughout 2020 during COVID-19 crisis

[wintermouse]

I've been through this in the past. While anything new that is still in early development or construction are delayed or shelved (remember POP/AOA) we'll still see a lot of things completed. Things like EPCOT and Tron will be completed with some delays. A lot of the savings will be backstage. I remember a time when it was hard to get general supplies. Those that are still working will be tasked with picking up more work or learning jobs that may have been performed by others. It was always rough and sometimes stressful but everyone worked together and we made it through.

 

[Brad Bishop]

There was never a front of EPCOT. Only World Showcase and a Skyliner station.

Seriously, what the heck do they do with Construction Park?

My guess, based on the current COVID-19 issue, their lack of income, and how they've handled things in the past (for far less disasters): They'll pour some concrete to get it to "something", paint it, and that'll be it. They left Tomorrowland 1/2 done for 25 years. That'll look glorious compared to what'll happen at Epcot.

It sucks because it'll probably be another 30 years before they swing back around to Epcot to say, "Hey, you know how we left it in 2020??? Maybe we should do something more..."... Someone else will chime in, "... You mean like a festival?" and the original person will answer, "EXACTLY!"

They're not going to half-complete it now and come back in 2 years to finish it. They're just going to pour some concrete, say to themselves, "We did our best," and move on to the next IP they need to shoehorn in somewhere.

 

[vinnya1726]

There was never a front of EPCOT. Only World Showcase and a Skyliner station.

Seriously, what the heck do they do with Construction Park?

I know this might sound a little crazy, but I say keep Epcot closed longer than the rest, spend some of that money you were going to spend on operations, and work on doing the renovations. Attendance is going to be dramatically down. I would think 3 parks could handle it for a few months. Put Epcot on construction 24 hours a day for a few months and hopefully have it ready to open when the world returns to some sense of normalcy.

 

[Giss Neric]

 

[Surferboy567]

This channel posts false news and is basically a “outrage” channel. It doesn’t belong here.

EDIT: I will give credit where credit is due...that thumbnail though is incredible.

 

[Giss Neric]

This channel posts false news and is basically a “outrage” channel. It doesn’t belong here.

EDIT: I will give credit where credit is due...that thumbnail though is incredible.

I completely agree. It's basically an anti-Disney channel. I just want to show how ridiculous their videos are. Sad part is the comments section is toxic too.

 

[monothingie]

I completely agree. It's basically an anti-Disney channel. I just want to show how ridiculous their videos are. Sad part is the comments section is toxic too.

There is a certain self proclaimed "Pro" insider on this forum that is continually and exclusively featured on their channel as well. hmmmmm....

 

[Giss Neric]

There is a certain self proclaimed "Pro" insider on this forum that is continually and exclusively featured on their channel as well. hmmmmm....

Oooh, spill the tea.. I find it funny that he himself goes to the parks but then reports negatively about it. He is one of those who goes just to find something to nitpick and talk about negatively. When he says something positive (which is rare), you can tell that's it's so forced or fake then he immediately follows it up with something negative.

I'm all for honesty and constructive criticisms but he is the total opposite of that. He makes those videos obviously for views cause reporting on good/happy things is boring so why not be anti and negative all throughout right?

 

[WeLComeHomE OKW]

This is going to bite them in a few years, Universal isn’t backing down and Epic Universe is going to be a game changer.

On a personal level, no big 50th=no me. Ill head out west where I don’t stay on property and usually only spend 5 days at DL (Knott’s is a must do if they have a festival) and I will be visiting Epic Universe in its first year so that might throw my schedule off and lead to an extended time away from WDW once this AP expires.

what a terrible opinion. This is a worldwide financial crisis. Would you prefer for Disney to be bought out by some tech company or them go under just so you have what you want?

 

[CastAStone]

The appropriate reaction:

Yay! Disney capitalized themselves appropriately at rates that will only cost them a little over 3% of their Net Income moving forward! And they still have about $80 billion in overall equity to borrow against if needed later! Great news!

 

[Jrb1979]

I don't mind Clownfish tv. Its good to see the other side of things and not look through Disney glasses that a lot of fans do. Its funny how a lot seem to defend anything Disney does. Its not a good look when any company borrows money. For some reason it's ok when the Rat does it. I don't hate the Rat I just found I didn't enjoy it as much as Universal or Cedar Point. The amount of planning really turns me off of Disney

 

[Rich Brownn]

I don't mind Clownfish tv. Its good to see the other side of things and not look through Disney glasses that a lot of fans do. Its funny how a lot seem to defend anything Disney does. Its not a good look when any company borrows money. For some reason it's ok when the Rat does it. I don't hate the Rat I just found I didn't enjoy it as much as Universal or Cedar Point. The amount of planning really turns me off of Disney

Disney borrowed long term loans to pay off short term debts. At a lower interest rate. They borrowed money, but since they are using it to pay off existing loans it doesn't increase the debt of the company. At least that is what has been reported. (Sort of like starting a new credit card with lower interest to pay off your higher interest card)

 

[peter11435]

I don't mind Clownfish tv. Its good to see the other side of things and not look through Disney glasses that a lot of fans do. Its funny how a lot seem to defend anything Disney does. Its not a good look when any company borrows money. For some reason it's ok when the Rat does it. I don't hate the Rat I just found I didn't enjoy it as much as Universal or Cedar Point. The amount of planning really turns me off of Disney

It’s not a “bad look” when a company borrows money. It truly depends on the circumstances and in most cases it’s just standard business.

 

[doctornick]

This is going to bite them in a few years, Universal isn’t backing down and Epic Universe is going to be a game changer.

So, speaking of Epic Universe... it is slated to open in 2024 now. We know a bunch of projects for WDW that will likely end up being completed -- some might be pushed back, but we're probably talking something like Rat late 2020, Harmonius and Tron 2021, GotG (maybe the play pavilion?) 2022. But my point/question is that nothing announced or seemingly planning willbe opening up in 2024. One has to think that Disney won't want the Orlando market to be dominanted by news of Epic Universe opening and its details in 2024 and the lead up to that.

So, will Disney have any sort of "counter programming" opening in the 2024 timeframe? And if so what might it be? Because if it is something big, it would probably need to start construction by next year given Disney's build rates. I guess the other argument is that they could just go for a new parade or fireworks show that have a smaller lead time to development but that seems like it would be pretty soft compared to an entire new park.

I know @marni1971 mentioned that it is no longer on the table as being considered, but I think a ride based on Shangai POTC tech themed to Indiana Jones would be a good choice to garner attention to WDW in 2024.

 

[UNCgolf]

I don't mind Clownfish tv. Its good to see the other side of things and not look through Disney glasses that a lot of fans do. Its funny how a lot seem to defend anything Disney does. Its not a good look when any company borrows money. For some reason it's ok when the Rat does it. I don't hate the Rat I just found I didn't enjoy it as much as Universal or Cedar Point. The amount of planning really turns me off of Disney

That's why it's good that multiple parks exist for different people.

There's absolutely nothing that interests me at Cedar Point; I wouldn't go for free. I like Universal, but it lags far behind Disney for me in most areas outside of the two HP lands and a handful of other specific rides.

 

[tirian]

SSE's fairly creaky and definitely needs some major maintenance (and from what I hear, space mountain as well). Hope these attractions just don't get shuttered while waiting for a $$$ rebound.

A few years ago, that was the plan for the Imagination pavilion.

 

[Brad Bishop]

A few years ago, that was the plan for the Imagination pavilion.

In 2009 they also saved money by not replacing the track at Space Mountain which, from my understanding, was the original plan.