Disney Unveils Major Investment Plans for Global Theme Parks at D23 Convention

Walt Disney is set to announce significant new attractions and increased investments in their theme parks during the D23 fan convention. The company plans to nearly double its spending over the next decade, with a focus on enhancing park experiences and expanding cruise line capacity to compete with rivals.

In a significant move, Walt Disney is poised to unveil new attractions at its theme parks during the D23 fan convention on Saturday. This marks the beginning of a $60 billion capital investment rollout aimed at transforming the company's global entertainment offerings.

Disney revealed plans to nearly double its investments in theme parks over the next ten years. The company aims to reimagine existing attractions and boost cruise line capacity, reinforcing its theme park segment as a crucial profit driver amid challenges in traditional TV and streaming segments.

CEO Bob Iger announced a $17 billion investment plan for the Walt Disney World Resort in Orlando, with the company also securing approval for a $2 billion development in Disneyland Anaheim. These strategic moves come as Disney faces increasing competition from Universal Studios, which is set to open its Epic Universe park next year.

(With inputs from agencies.)