In the Q4 2023 earnings report for The Walt Disney Company, CEO Bob Iger said that “turbocharging growth” at Disney theme parks is among their “key building opportunities.”
“Our results this quarter reflect the significant progress we’ve made over the past year,” Iger stated. “While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again. We have a solid foundation of creative excellence and innovation built over the past century, which has only been reinforced by the important restructuring and cost efficiency work we’ve done this year, and we’re on track to achieve roughly $7.5 billion in cost reductions. Combined with our portfolio of valuable businesses, brands and assets – and the way we manage them together – Disney has a strong hand that differentiates us from others in our industry.
“As we look forward, there are four key building opportunities that will be central to our success: achieving significant and sustained profitability in our streaming business, building ESPN into the preeminent digital sports platform, improving the output and economics of our film studios, and turbocharging growth in our parks and experiences business. We have already made considerable advancements in these four areas and will continue to move forward with a sense of purpose and urgency, and I’m bullish about the opportunities we have before us to create lasting growth and increase shareholder value.”
Earlier this year, Disney Parks, Experiences and Products Chairman Josh D’Amaro they are focused on growth in existing theme parks, not on building more resorts. Disney later stated they have “over 1,000 acres” to expand existing parks. Disney plans to double their spending when it comes to Disney Parks and Disney Cruise Line over the next 10 years.
At Destination D23, Disney announced several “blue sky” expansion projects, updates to attractions, and more.