Despite Disney announcing cuts in the amount they are spending on filmed content, Bob Iger has reiterated that they will continue investing in the theme park business.
What is Happening:
- Disney shared that they expect capital expenditures to be $6 billion in the 2023 fiscal year.
- This is a marked increase from the $4.9 billion spent in the 2022 fiscal year.
- Previously Disney said they had expected the CapEx to be $6.7 billion, but $700 million of the expected expenditures at the domestic theme parks has been delayed.
- There have been no project cancellations, but is just a result of the timing of projects that are being developed.
- Bob Iger reiterated a commitment to continue growing their parks as a way to increase attendance without impacting the guest experience.
- Despite high demand, Disney does not plan to increase the number of guests it allows in the parks due to a desire to prevent overcrowding.
- Disney also does not plan on aggressive price increases and recently expanded the number of days that are at the lowest price point from around 15 to around 50.
- He also announced that an Avatar experience will be coming to the Disneyland Resort but did not reveal the scope or timing of that project.
Partial List of Upcoming Disney Theme Park Opening in 2023 Calendar Year:
- February 24: Return of Magic Happens Parade (Disneyland Resort)
- March 8: Mickey’s Toontown Reopening (Disneyland Resort)
- April 3: Happily Ever After Return (Walt Disney World)
- April 4: TRON Lightcycle / Run (Walt Disney World)
- April 15: Dream-Go-Round Celebration (Tokyo Disney Resort)
- Summer: Pixar: We Belong Together Show (Disneyland Paris)
- 2nd Half of 2023: World of Frozen (Hong Kong Disneyland)
- Late 2023: Journey of Water, Inspired by Moana (Walt Disney World)
- TBD: Adventureland Treehouse (Disneyland Resort)