Disney's $60 billion expansion plan to make way for new lands, beloved franchises in Florida and beyond
ORLANDO, Fla. - The Walt Disney Company plans to invest $60 billion over the next 10 years to expand its parks in Florida and around the world, cruise lines and other experiences.
Senior Disney executives, including CEO Bob Iger, met with financial analysts and investors at a summit in Orlando on Monday to reimagine the way they "continue to grow the bottom line," according to a press release.
"Throughout our history, we’ve created enormous growth by investing the right amount of capital into the right projects at the right moment," Iger said. "We are planning to turbocharge our growth yet again with a robust amount of strategic investment in this business."
Iger plans to not only expand Disney Parks around the world, but right here at Walt Disney World in Florida, too. Destination D23 wrapped up about two weeks ago, revealing a a slew of new experiences making their way to Walt Disney World, like new shows, new ride vehicles and new expansions.
News of Disney's new expansion plans come amid an ongoing legal feud with Florida Gov. Ron DeSantis, the failure of the Star Wars-inspired resort and the recent unveiling of new details about Universal Orlando Resort's Epic Universe set to open in 2025.
Here's a look at what Disney has planned for the next decade:
1,000 acres of land ready to use
Disney said there is "significant room for further expansion."
Disney Parks has over a thousand acres of land ready to use for future projects, which is the equivalent of seven new Disneyland Parks, the company said in a press release.
They said this land could be used to expand theme park space at its already existing parks.
"We stand alone when it comes to scale," said Experiences and Products Chairman of Disney Parks Josh D’Amaro. "And while our scale is impressive, we have no shortage of space or regions of the world in which to tell new stories."
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Never-before-explored characters, franchises could come to life
The Walt Disney Company said there is a whole new world of characters and franchises they have yet to tap into – and they'll plan to do so amid a "new period of significant growth domestically and internationally in its parks and resorts," according to a press release.
D'Amaro said Frozen – which is coming soon to Hong Kong Disneyland, Walt Disney Studios Park in Paris and Tokyo Disney Resort – could make its way to the Disneyland Resort in California.
Wakanda is another franchise on the table, as and so is Coco.
"There's a lot of storytelling opportunity," D'Amaro said.
Disney Cruise Line to nearly double worldwide capacity
Disney Cruise Line will add two ships in 2025 and another in 2026.
Recently, Disney lovers got a sneak peek of inside the new Disney Treasure, which getting ready to set sail in 2024.
There's also a new homeport in Australia and New Zealand slated to open later this year, followed by Singapore in 2025.
Check out photos from inside the new Disney Treasure below:
Walt Disney World to get a few major upgrades
At Destination D23, the Walt Disney Company unveiled several new projects coming to Walt Disney World.
Here's a rundown:
- New Zootopia show replacing A Bug's Life at Tree of Life Theater at Disney's Animal Kingdom
- New Pirates of the Caribbean-themed lounge at Adventureland at Disney's Magic Kingdom
- New act at Country Bear Jamboree at Disney's Magic Kingdom in 2024
- Test Track at EPCOT to be reimagined
- Dinoland U.S.A. to become Tropical Americas
- Encanto and Indiana Jones are being considered for reimagined land at Disney's Animal Kingdom
"There's a long way to go and a lot more to discover but Imagineering teams in Florida are up for the challenge," said Bruce Vaugn, chief creative officer at Walt Disney Imagineering.
The thread on X, formerly known as Twitter, below shows all the new projects coming to Disney Parks around the world:
Disney still looking to reach more consumers
The Walt Disney Company said there is "enormous untapped potential" for reaching more consumers. There are over 700 million people who love Disney that have yet to visit a Disney Park, according to Disney's internal research. They added that for every one guest who visits a park, there are more than 10 people who don't.
"Ultimately what is most important to us is the relationship that we have with every guest," D'Amaro said. "Guests can spend a day with us at our Parks, a week with us on a Cruise, or the rest of their lives with us through Disney Vacation Club membership."
All in all, Disney said if it expands its offerings and experiences, they'll be able to reach not only its loyal fans, but tap into a whole new world of more consumers.