During the park’s closure, Disney continued to forge ahead with its new attractions and refurbishments. From the Marvel-themed Avengers Campus in Disneyland to the refurbishment of old classics like the King Arthur Carousel, Disney endeavored to keep its reputation alive. Furthermore, a range of other improvements and additions were unveiled at Disney parks worldwide, from a ‘Frozen’ themed land at Hong Kong Disneyland to new ‘Guardians of the Galaxy’ and ‘Tron’ rides in Walt Disney World, Florida. These advancements kept guests returning, boosting Disney’s earnings even through uncertain times.
In fiscal 2023, Disney’s experiences arm contributed to more than a third of Disney’s total revenue and 70% of its operating income. This has reinforced the company’s commitment to its parks and explains its significant financial investment-plan.
Disney is set to channel about 70% of this investment into creating “new experiences” in its parks both domestically and internationally. An additional 30% will go towards technology and infrastructure, including maintenance of existing attractions. Disney’s mission to do more with its parks is clear: to keep them attractive, relevant, and a cut above their competitors.
Innovation has always been critical to Disney’s strategy. From animatronics to immersive architecture, Disney has been at the forefront of technological advancement in theme park entertainment. Tremendous progress has been made on this front, including the creation of a series of Star Wars inspired BDX droids and the rejuvenation of Disney’s classic “Splash Mountain” into “Tiana’s Bayou Adventure”.
These animatronics, developed for the ride, are completely electronic, allowing for more nuanced movements and a heightened sense of realism. This is underscored by the fact that parts of these animatronics were crafted via 3-D printing, rendering them lighter and more flexible. Disney’s intention to position its experiences division at the top of the industry is clear, as Disneyland continue to push the boundaries of creativity and storytelling.
Looking to the future, Disney has plans for increasing expansion of their parks, even before most of the $60 billion investment is utilized. Major projects in development include an eighth part of Tokyo’s DisneySea park, known as Fantasy Springs, and the Tropical Americas area in Disney’s Animal Kingdom, Florida. Disney is also considering possible ‘blue sky’ projects for its parks, with potential plans for areas based on “Coco” or “Encanto”, or even a space devoted to Disney’s legion of villains.
Disney’s ambitious plans come with a hefty price tag, with recent additions like Star Wars: Galaxy’s Edge lands in Disneyland rumored to cost around $1 billion each. However, Disney is prepared for this, having set aside the necessary funds for these developments. The entertainment conglomerate is keen on maintaining financial flexibility, leaving room for potential attractions inspired by hit movies or other Disney IP in the future.
Disney’s CEO, Bob Iger, who returned in 2022, will step down at the end of 2026. There is speculation that D’Amaro, with his track record at Disney experiences, could be a contender to take over. However, for now, D’Amaro remains focused on his role in the experiences division, promising to drive innovation forward and continue growing the business. Disney’s vision for its future in the theme park industry is clear: big investment, big innovation, and a never-ending commitment to storytelling that is classically Disney.
