Less than a week after reporting weaker than expected returns from its theme parks, the Walt Disney Co. (NYSE:DIS) unveiled what it promoted as “an unprecedented slate of projects including new attractions, lands, and more” designed to bolster the strategy of using the company’s real estate holdings to boost revenue.
Disney’s latest quarterly report found theme park revenue up by 2% year-over-year to $8.4 billion, but operating profit dropped by 3% year-over-year to $2.2 billion. The company attributed the shaky figures to higher costs coupled with “moderation of consumer demand” that “could impact the next few quarters.”
In a press statement issued over the weekend, the company highlighted “largest land expansion” at the Magic Kingdom within the Walt Disney World Resort in Orlando that will feature new lands featuring Disney’s movie villains and the Cars franchise. Disney’s Animal Kingdom will get a new land, which will take guests on adventures in Tropical Americas that will include Indiana Jones-inspired attractions, while Disney’s Hollywood Studios at Walt Disney World will get a new land inspired by the Pixar franchise Monsters Inc.
Over at Disneyland in Anaheim, California, there will be two new E-ticket Marvel-themed attractions at Disney California Adventure, along with a land inspired by the Avatar franchise.
“Disney Experiences is embarking on an accelerated path of ambitious growth and innovation,” said Disney Experiences Chairman Josh D’Amaro, during Saturday’s D23: The Ultimate Disney Fan Event in Anaheim. “With so many great Disney stories to tell, we’re excited to bring an unprecedented number of new projects to life in the near future.”
D’Amaro added that “work is well under way on all of the new projects we announced, and fans will start to see them come to life in the near future.”
Last March, Disney CEO Bob Iger highlighted the company’s real estate holdings as a platform for future profits.
“We have thousands of acres of land still to develop,” he said during a presentation at the Morgan Stanley Technology, Media and Telecom Conference. “We could actually build seven new, full lands if we wanted to, around the world, including the ability to increase the size of Disneyland [Resort] in California, which everybody thinks is kind of land-locked, by 50%. You can look at every single location that we’ve got, and there’s land, opportunity, but most importantly, we have so much IP to mine that there’s opportunity there to create experiences that we know people will love to have in our parks.”
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Nothing Disney can do, short of firing the entire woke management team, and bringing in a conservative team which loves America and it’s constitution, and which stops making horrible movies to promote the ungodly woke agenda, will get me to visit it’s parks or watch it’s movies.
Amen to that
I agree 100% with this statement. Stop being spineless and cowering to the woke mob, they don’t represent the majority of your target market. Horrible marketing strategy, market to the very vocal 10% of the population while alienating 90%, did they learn nothing from Bud Light..