By Dawn Chmielewski
ANAHEIM, Calif. – Walt Disney will create a new “Avatar” experience at its Disney California Adventure theme park based on the second film in the science fiction series, “Avatar: The Way of Water,” the company announced Saturday.
This is the first of a series of highly anticipated announcements at Disney fan club D23’s event this weekend, which will reveal how the company will begin deploying $60 billion in capital investments.
Disney has announced plans to increase its investment in the parks, nearly doubling its spending over the next decade by redesigning attractions at its 12 parks around the world and increasing capacity at its cruise line.
“Everything we’re sharing with you tonight is in active development,” said Josh D’Amaro, chairman of Disney Experiences. “That means plans are drawn. That means things are moving. I just want to make one thing clear to all the fans out there: This is not a bed of roses.”
D’Amaro then turned the stage over to a 70-piece orchestra that played Disney musical numbers while images of the company’s theme parks flashed across the screen.
The Disney parks have become a reliable profit engine, helping to cushion the impact of declines in the traditional television business and losses in the video streaming business, which was still profitable last quarter.
The experience division, which includes parks, cruise ships and consumer goods, contributed 60 percent of the company’s operating profit last quarter, up from just 30 percent just a decade ago.
Disney CEO Bob Iger said the company plans to invest $17 billion in the Walt Disney World Resort in Orlando over the next decade.
These investments would build on newer attractions such as Tiana’s Bayou Adventure – inspired by Disney’s animated film The Princess and the Frog – the Guardians of the Galaxy: Cosmic Rewind roller coaster and the Tron Lightcycle/Run.
The company is facing increasing competition in Central Florida from rival Universal Studios, which plans to open its Epic Universe next year. The 300-hectare site will be home to Harry Potter, dragons from the Viking world of “How to Train Your Dragon,” classic Universal movie monsters such as Frankenstein and Nintendo’s Donkey Kong.
In Anaheim, California, Disney received approval earlier this year for a development plan that paves the way for a $2 billion investment in the Disneyland Resort.
The company has not yet announced any details, only saying it is looking for the flexibility to mix hotels, shops and attractions in the same themed world, as it did with Fantasy Springs at Tokyo DisneySea Park.
“We have a commitment to continue to develop these huge companies and great experiences that we have here in California and Florida,” D’Amaro told Reuters in June. “And we will invest aggressively, heavily and intelligently.”
This article was generated from an automated news agency feed without any modifications.
