Why Disney is doubling down on theme parks with a $60 billion plan

Over the decades since Walt Disney opened his first theme park in 1955, the company's tourism business has ballooned to an enterprise worth tens of billions in yearly sales, with sprawling locations in Anaheim, Orlando, Paris, Shanghai, Hong Kong and Tokyo.

Why the massive investment? At a time when Disney faces revenue challenges due to cord cutting, streaming wars and a slower film box office, its theme parks are a bright — and reliable — spot for its business. Moreover, they play a major part in the company's strategy — using well-loved movies to inspire rides and vice versa , feeding an ongoing virtuous cycle.

Those numbers represent a stark contrast from even 10 years ago, when the company was heavily reliant on its TV networks, which brought in 56% of Disney's operating income . The parks and resorts division drew just 20%. "The industry was really growing quickly before COVID-19, and that obviously put a crimp on everything," said Martin Lewison, associate professor of business management at Farmingdale State College in New York."But it appears as long as the economy remains healthy, the industry is back on track for that growth."

The Disneyland Resort expansion plan, known as DisneylandForward, will help the 490-acre park stay fresh for visitors. The plan calls for changes to the park's zoning, allowing the company more freedom to mix attractions, theme parks, shopping, dining and parking. While the plan doesn't specify exactly which attractions will be added to the resort, company officials have floated ideas including immersive Frozen, Tron and Avatar experiences.

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