Disney is taking a bold step to boost its parks and cruises business as it announced its plan to nearly double its investment to a staggering $60 billion over the next decade. This significant move was detailed in a recent securities filing.
Amid the ever-evolving landscape of media and entertainment, with Disney striving to make its streaming business profitable and contemplating the sale of its traditional TV networks, the company’s theme parks, experiences, and products division has shone brightly.
However, it’s worth noting that the domestic parks, especially Walt Disney World in Florida, have experienced a slowdown in attendance and hotel room bookings. In contrast, the division has thrived thanks to its international parks, which contributed to a remarkable 13% increase in revenue, reaching $8.3 billion during the third quarter.
Disney’s decision to double down on its investments in parks and cruises reflects its commitment to enhancing these beloved experiences for visitors worldwide. Stay tuned for more updates on Disney’s exciting developments in the coming years! 🏰🚢
