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Disney to invest close to $60B to expand its parks and cruises

The Walt Disney Co. is nearly doubling its investment in its parks and cruise lines.

That’s what the company laid out in its securities filing on Tuesday morning for its Disney Parks, Experiences and Products branch.

In the filing, it was revealed the company is set to spend $60 billion over the course of 10 years “by investing in expanding and enhancing domestic and international parks and cruise line capacity, prioritizing projects anticipated to generate strong returns, consistent with the Company’s continuing approach to allocate capital in a disciplined and balanced manner.”

This is the latest in money moves from the company.

FILE - The Cinderella Castle is seen at the Magic Kingdom at Walt Disney World, July 14, 2023, in Lake Buena Vista, Fla. The new administrator of Walt Disney World’s governing district can’t continue to work in his new job and be chair of Florida’s ethics commission at the same time, according to a legal opinion issued Thursday, Aug. 17. (AP Photo/John Raoux, File)
The Cinderella Castle is seen at the Magic Kingdom at Walt Disney World, July 14, 2023, in Lake Buena Vista, Fla. (AP Photo/John Raoux, File)

Just last week, Disney was in “exploratory talks” about selling its ABC network and television stations, possibly to KTLA parent company Nexstar, Bloomberg reported.

According to The Hollywood Reporter, the company held a presentation to investors on Tuesday and revealed it had more than 1,000 acres of land available to expand on at its parks in California, Florida, France, China and Japan. The expansion also included cruise ship ports in the United States, Asia and Australia.

“As previously announced, over the next two years, Disney will nearly double the worldwide capacity of its cruise line, adding two ships in fiscal year 2025 and another in 2026, delivering even further growth potential and introducing new markets to Disney experiences, including a new homeport in Singapore beginning in 2025 to expand its reach further into the Asia-Pacific region.” the company said in a statement obtained by the outlet.

The entertainment giant then further explained that its parks still have many fans it has yet to reach.

“According to Disney’s internal research, there is an addressable market of more than 700 million people with high Disney affinity it has yet to reach with its Parks,” the company continued. “In fact, for every one guest who visits a Disney Park, there are more than ten people with Disney affinity who do not visit the Parks.”

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