Disney to Build New 'Avatar' Experience at Disney California Adventure Park | $60 Billion in Capital Investments Announced - RankMath SEO Score: 94
By Dawn Chmielewski
ANAHEIM, California (Multibagger) - Walt Disney is set to create a new 'Avatar' experience at its Disney California Adventure theme park, inspired by the upcoming film "Avatar: The Way of Water". This announcement kicks off a series of reveals at the D23 Disney fan club event, showcasing how the company plans to invest $60 billion in capital.
Disney has committed to expanding its park investments, with plans to double spending over the next decade. The goal is to revamp attractions at its 12 parks worldwide and enhance its cruise line capacity.
Disney Experiences Chairman Josh D'Amaro stated, "Everything we're sharing is actively in development. Plans are in motion, and progress is underway. This is not just wishful thinking." The company then treated fans to a musical performance and visuals of its theme parks.
The parks division has become a significant profit driver for Disney, offsetting declines in traditional TV and streaming services. In the last quarter, the experiences unit, including parks and consumer products, generated 60% of the company's operating profit.
CEO Bob Iger revealed plans to invest $17 billion at the Walt Disney World Resort in Orlando over the next decade. This investment will build on recent attractions like Tiana's Bayou Adventure and the Guardians of the Galaxy: Cosmic Rewind roller coaster.
Disney faces competition from Universal Studios in Florida, with the upcoming Epic Universe adding new attractions next year. In California, Disney secured approval for a $2 billion investment in the Disneyland Resort earlier this year.
Details are scarce, but the company aims to create a seamless blend of hotels, shops, and attractions within themed worlds, similar to Tokyo DisneySea Park's Fantasy Springs.
D'Amaro emphasized Disney's commitment to developing exceptional experiences in California and Florida. The company plans to invest aggressively and strategically to maintain its position as a leader in the entertainment industry.
In conclusion, Disney's investment in new attractions and experiences will not only enhance the theme park experience for visitors but also drive revenue growth for the company. These developments underscore Disney's commitment to innovation and maintaining its competitive edge in the market.