“We keep moving forward, opening new doors, and doing new things, because we’re curious, and curiosity keeps leading us down new paths.” – Walt Disney
Disney fans often say that the only constant at Disney World is change. Visit from one year to the next, and something will be different, whether that be a new ride, a new fireworks show, or even something as simple as a new outfit for Mickey Mouse to don when he greets guests or a new limited-time cupcake at the bakery.
There is, of course, a business element at play: there has to be something for guests to look forward to and some sort of reason for guests to return year after year. However, if you are like me, even a static Disney theme park sounds enticing enough. I’m an anomaly – the parks need updating to stay fresh and relevant. As the late Imagineer Marty Skylar once noted, Disneyland is built on tradition, yet it should not be looked at as a museum – it should be a living entity that brings Walt’s words to life: “Disneyland will never be complete.”
Of course, living up to those words of constant change and evolution comes with a price tag. Another Walt quote comes to mind: “It takes a lot of money to make these dreams come true.” And boy, oh boy, do those dreams cost more now than ever. The Walt Disney Company announced plans to “accelerate and expand investment in its Parks, Experiences and Products segment to nearly double capital expenditures over the course of approximately 10 years to roughly $60 billion, including by investing in expanding and enhancing domestic and international parks and cruise line capacity.” That’s $60 billion with a b.
In the previous decade (starting from 2013 to 2023), much has changed. Shanghai Disneyland opened in 2016, the parks welcomed new lands, including Star Wars: Galaxy’s Edge and Pandora – The World of Avatar, and Disney Cruise Line launched the Disney Wish on its maiden voyage in 2022. With 1,000 acres reportedly available for development, the sky could very well be the limit for what is in store in the coming years.
Let’s dive into the latest revelations surrounding Disney’s future investments, as well as where we already know some of that money is going to be invested. And, because it’s fun, I’ll open the floor to pie-in-the-sky wish lists of what we would personally love to see added to the Disney parks and cruise ships in this next decade of Disney.
$60 Billion Investment Planned For Disney Parks and Cruises
To kick things off, let’s quickly go over what was announced by Disney when it comes to investing in their theme parks and cruise ships over the next 10 years. In an SEC filing from September 19, 2023, Disney stated its intent to “expand and enhance” its theme park and cruise line capacity. The estimated sticker price for those expansions and enhancements? $60 billion.
In its unveiling, Disney senior executives shared three pillars that would be central to the company’s growth strategy as it pertains to its parks and cruises: stories, scale, and fans.
When it comes to stories, think about Disney’s intellectual property (IP). Franchise juggernauts like Star Wars, Marvel, Frozen, and Zootopia are just a few of the stories Disney highlights as key drivers to “bring to life across our business.” Disney also states that it will “explore even more characters and franchises, including some that haven’t been leveraged extensively to date.”
In terms of scale, think about Disney’s footprint. To date, Disney oversees 12 theme parks across six sites on 3 different continents, and its cruise line currently travels to 94 ports in 40 countries. Don’t forget about those 1,000 acres: Disney states that land is available to “expand theme park space across its existing sites.”
And finally, fans. That’s us. That’s me, typing away in this Google doc, and that’s you, reading the published article. But it also includes the would-be fans, the untapped market, or the “addressable market,” as Disney calls it. These “affinity” fans are the ones who have yet to visit a park – and Disney estimates there are 700 million of them. Make no mistake: while Disney wants to appease existing fans, it wants to reach out and create new ones as well.
Now that we know somewhat about where Disney currently stands as it prepares to invest $60 billion into its parks and cruise line, how does that sum of money actually get spent? As it turns out, we already know the answer to at least a slice of that $60 billion pie.
Disney Is Already Letting Fans In On Where (Some of) That Money Is Going
Disney drums up excitement for its latest projects by hosting expos for media and its biggest fans each year. In 2023, the Destination D23 event at Walt Disney World included updates on minor projects (like the Hatbox Ghost animatronic coming to Haunted Mansion in Magic Kingdom and the long-awaited Figment meet and greet returning to EPCOT), but we also got a deeper dive into projects of a grander scale that could account for at least a few of those billions of dollars.
WALT DISNEY WORLD AND DISNEYLAND RESORT
When you hear the sentence “Disney will invest $60 billion in its parks over the next 10 years,” what is the first thing that comes to mind? A new ride at Disneyland? That ever-so-elusive fifth theme park at Disney World? (seriously, that concept is like a unicorn at this point)
Fans already know a bit about what is to come at both Disney World and Disneyland, as well as what could potentially be in the works. Let’s start with the concrete stuff:
At Disney World, new shows and reimagined rides are in the works. At EPCOT, a new fireworks spectacular, Luminous: A Symphony of Us, will debut in the coming months, and plans were recently unveiled at Destination D23 for a reimagining of Test Track. At Disney’s Animal Kingdom, a new show inspired by the film “Zootopia” is set to take the place of “It’s Tough to Be A Bug” at the Tree of Life theater. Exciting changes, yes, but miniscule in terms of a percentage of that $60 billion figure.
More enticing developments are still in that “blue sky” planning phase. As of 2023, Disney has yet to confirm its plans for what might be found “beyond Big Thunder Mountain,” as it initially hinted at the 2022 D23 Expo in Anaheim. Over in Magic Kingdom, new rides and shows could very well be in the works, but at present, it is still all hypothetical.
Also somewhat vague as of 2023 is the future of Dinoland U.S.A. at Animal Kingdom. Josh D’Amaro revealed concept art for what could replace Dinoland – a land inspired by the “tropical Americas” – but the key word here is ‘could.’ Using carefully selected language, Disney shared that while they are inching closer and closer to a new land coming to Animal Kingdom, the green light is still not 100% on at this time.
Then there is Disneyland Resort. Some exciting projects have been taking place over the last year, like the reimagining of Mickey’s Toontown, which reopened with the addition of Mickey and Minnie’s Runaway Railway, and the opening of San Fransokyo Square at California Adventure. At Destination D23, D’Amaro gave an update on the “Multiverse” attraction in the works in Avengers Campus, still very much in the works – fans even got a first look at concept art for the ride vehicles. Disneyland is much smaller in comparison to Disney World, however, and while the Florida theme parks have plenty of room to grow, Disneyland is more or less at capacity, given the surrounding downtown Anaheim area and current zoning restrictions.
It’s those zoning restrictions, however, that Disney wants to change. In a project dubbed Disneyland Forward, the company seeks to update development approvals that went into effect in the 1990s. Back then, restrictions were put in place on what uses could be built and where, and the goal of Disneyland Forward now is to update those restrictions. Right now, for example, Disney is limited in the sense that it cannot expand its theme parks (and, say, build a new ride) in a zone currently restricted to be solely used as parking or retail space.
TL;DR: multiple projects are in the works, but not to the tune of $60 billion (or even a significant slice of that). Potential future projects, however, could get us closer to a sizable slice of that figure. To come close to the full scope of how Disney could spend the money, we need to look beyond the lower 48 United States.
CLICK HERE TO READ OUR FULL BREAKDOWN OF WHAT WAS ANNOUNCED AT DESTINATION D23
INTERNATIONAL PARKS
If the past few years are any indicator, Disney is investing heavily in its international theme parks, and it will likely continue to do so over the next 10 years. Currently, a Zootopia-themed land is set to open at Shanghai Disneyland in late 2023, and the World of Frozen will open at Hong Kong Disneyland this November.
Work continues at Disneyland Paris as well. There, a newly refurbished Disneyland Hotel is set to debut in January 2024, and work continues on its own Frozen-themed land, the Kingdom of Arendelle. A ride based on the animated film “Tangled” is also in the works. With the 2024 Olympics set to take place in Paris, fans can expect many of the latest enhancements and additions to be complete by then.
Beyond those projects, however, there have not been any new announcements of that scope regarding international theme parks. While there is a lot to look forward to in the coming months, it is likely that the majority of money spent on those lands and rides doesn’t fall into the $60 million figure (if we are assuming Disney started this 10-year clock in 2023).
CRUISE LINE
Disney has been aggressive in expanding its cruise line offerings to fans in the last few years, and that trend will continue through at least fiscal year 2026. Last year, Disney Cruise Line launched the Disney Wish, its fifth ship, fitted with a Star Wars-themed bar and immersive Marvel and ‘Frozen’-themed dining.
This trend of bringing new cruising offerings online will continue with the opening of a new private island destination, Lookout Cay at Lighthouse Point. It will be located along the southern tip of the Bahamian island Eleuthera and will provide guests with all-day activities, dining, and relaxation.
As of this publication, there are three upcoming cruise ships being added to the fleet: the Disney Treasure (launching in December 2024), the Disney Adventure (the acquired Global Dream cruise ship set to launch in 2025), and an unnamed ship launching in 2025. All of this – new cruise ships and a new island destination – are set to be completed in the next two years. Only time will tell how much of the $60 billion is earmarked for Disney Cruise Line, but it’s clear that Disney intends on expanding its cruising horizons in the immediate future.
CLICK HERE TO READ MORE ABOUT DISNEY’S NEXT CRUISE SHIP, THE DISNEY TREASURE
What Is Your Dream Disney Decade?
It is probably not much of a stretch to assume that the $60 billion investment will touch upon each aspect of Disney’s theme parks and cruise line. Think of the twelve existing theme parks, filled with their rides, shops, and restaurants — there’s probably a line item for renovations and reimagining. Think about the hotels surrounding those theme parks: also room for renovations, new Disney Vacation Club towers, and possibly entirely new hotels. Think of the Cruise Line and its ever-growing fleet of ships, private island destinations, and so forth. Do we even dare to dream of an entirely new park? With $60 billion at Disney’s disposal, the sky is truly the limit.
Let me know in the comments what is on YOUR dream list of what you would want to see Disney spend some money on. Is it a new theme park? A new land or new rides within an existing park? A much-needed refurbishment? All of the above?
Think back to 10 years ago — it was 2013. Iron Man 3 was in theaters. ‘Get Lucky’ by Daft Punk was topping the charts. Instagram was still in its infancy and we were all posting square photos with the sepia filter. For Disney, New Fantasyland had just opened in Magic Kingdom. Cars Land had just opened at Disney California Adventure. Pandora, Galaxy’s Edge, Pixar Pier, and Toy Story Land were still in their Blue Sky phase. Ten years is a long time, and a lot can change between now and 2033. Below is a graph released by Disney showing the company’s historical operating income from FY2002 through FY 2022 and the projects that were completed along the way.
If you look at the last 10 years until now, and then remember that Disney intends on doubling their investment, the next decade all of a sudden becomes awfully exciting if you’re a theme park fan. It’s certainly an interesting time to follow the Walt Disney Company as they celebrate its 100th anniversary. Be sure to follow along with The World of Spark as I keep you up to date on the relevant news and updates that will impact your upcoming Disney vacation — if $60 billion is any indicator, there will be a lot to catch up on in the years to come.
