The Walt Disney Company announced it would spend $60 billion on its theme parks, cruise ships and other attractions, aiming to improve the guest experience and attract more fans . The gargantuan investment will include more money to expand Disney World in Florida despite the company’s ongoing political and legal war with Gov. Ron DeSantis (R).
The announcement follows continued pressure from media and LGBTQ activists for Disney to abandon Florida, or at least divest from the state — a campaign that was largely wishful thinking. Their rage-filled efforts to overturn the state’s Parental Rights in Education Act have so far gone nowhere, with the law that protects schoolchildren from radical LGBTQ indoctrination remaining in full force.
On Tuesday, CEO Bob Iger led an investor presentation at Disney World in Orlando, where the company said it has more than 1,000 acres of land available for development, including at Disneyland in California, Walt Disney World in Florida and in parks in Europe and Asia, according to several reports.
Disney plans to spend $60 billion to expand its theme parks, cruise lines and other similar projects over the next decade https://t.co/XhmsNt3JWM
– The Wall Street Journal (@WSJ) September 19, 2023
Disney will also expand its cruise ship presence throughout the Pacific region.
Attracting more people to Disney parks appears to be a top priority for the company.
“According to Disney’s internal research, there is an addressable market of more than 700 million people with a strong affinity for Disney that it has yet to reach with its parks,” the company was quoted as saying. “In fact, for every guest who visits a Disney park, there are more than ten people with a Disney affinity who do not visit the parks.”
Theme parks have always been profitable for Disney, but as Bidenflation takes a toll on households and Disney becomes more woke, more families are choosing to stay away, leading to lower attendance and worrying queues.
Disney and DeSantis are currently engaged in a complex legal battle over the company’s efforts to torpedo the state’s parental education rights law.
DeSantis revoked the company’s coveted free-standing status in the Orlando area, precipitating a wave of lawsuits that are still pending in Florida courts.
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