The company is banking on new attractions to help its theme parks
of ConsumerAffairs
The Walt Disney Company has been around for 101 years, through good times and bad, so a drop in business caused by inflation isnt stopping it from doubling down on its entertainment offerings.
The company has announced plans to expand its theme parts and add to its fleet of cruise ships. The multi-billion dollar budget will produce more characters and more rides.
Disney tipped its hand during its D23 Expo, a three-hour presentation in Anaheim, close to Disney Land. Josh DAmaro, chairman of Disney Experiences, addressed an audience of Disney fans about what the company plans for the future. And its ambitious.
There will be more Disney villains in the Magic Kingdom. Monsters, Inc. will get its own section at Disneys Hollywood Studios. The parks will get more thrilling rides. The Disney Cruise Line will get four additional ships.
Everything were going to share with you tonight is an active development, DAmaro said during the presentation. I just want to be clear to all the fans out there: This isnt blue sky.
Ups and downs
The entertainment giant has had its ups and downs of late, largely beginning during the COVID-19 pandemic. Park performance has weighed on earnings.
In its latest earnings call last week, Disney reported that its parks business underperformed expectations and profits declined slightly. On the positive side, Disney said attendance remained steady in spite of higher ticket prices.
But company officials also admitted that a slowing economy and still-high prices are presenting headwinds. A rising unemployment rate could make those headwinds stronger.
Americans are still traveling this summer, but lately there has been a lot of travel to Europe, especially since the just concluded Olympics was held in Paris. Because of that, Disneys international properties reported higher than usual traffic.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-08-13 17:19:08
