By Daybreak Chmielewski
ANAHEIM, California (Reuters) -Walt Disney will construct a brand new ‘Avatar’ expertise at its Disney California Journey theme park, primarily based on the second movie within the science fiction franchise, “Avatar: The Approach of Water”, the company said on Saturday.
This is the first in a series of anticipated announcements at the D23 Disney fan club event being held this weekend revealing how the company will begin deploying $60 billion in capital investments.
Disney has said it would deepen its investments in the parks, nearly doubling its spending over the next decade, as it re-imagines attractions at its 12 parks around the world and increases the capacity of its cruise line.
“Every thing that we’re going to share with you tonight is in lively improvement,” said Disney Experiences Chairman Josh D’Amaro. “Which means that plans are drawn. Which means that filth is shifting. I simply wish to be clear with all of the followers on the market. This isn’t blue sky.”
D’Amaro then yielded the stage to a 70-piece orchestra performing Disney musical numbers as images of the company’s theme parks flashed across the screen.
Disney’s parks have become a reliable profit engine, helping to cushion the impact of declines in traditional television and losses in its video streaming business, which last quarter turned a profit.
The experiences unit, which includes parks, cruise ships and consumer products, contributed 60% of the company’s operating profit in the most recent quarter – up from 30% just a decade ago.
Disney CEO Bob Iger has said the company planned to spend $17 billion over the next decade at the Walt Disney (NYSE:) World Resort in Orlando.
These investments would build on such recent attractions as Tiana’s Bayou Adventure – inspired by Disney’s animated movie “The Princess and The Frog” – the Guardians of the Galaxy: Cosmic Rewind roller coaster, and the Tron Lightcycle/Run.
The company faces intensifying competition in central Florida from rival Universal Studios, which plans to open Epic Universe next year, adding 750 acres (303.5 hectares) to be populated by Harry Potter, dragons from the Viking world of “How one can Prepare Your Dragon,” traditional Common film monsters resembling Frankenstein and Nintendo’s Donkey Kong.
In Anaheim, California, Disney earlier this yr gained approval for a improvement plan that clears the way in which for a $2 billion funding within the Disneyland Resort.
The corporate has but to supply any particulars, past saying it’s in search of the flexibleness to mix resorts, outlets and points of interest throughout the similar themed world, because it has in Fantasy Springs at Tokyo DisneySea Park.
“We have an obligation to continue to develop these huge businesses and amazing experiences that we have here in California and in Florida,” D’Amaro instructed Reuters in June. “And we will invest aggressively and heavily and intelligently.”
