Disney stock has dropped over 2% after the company announced plans to double spending on their theme parks and cruise line, emphasizing the over 1,000 acres of land they have to expand.
As of 9:58 a.m. on Tuesday, Disney shares are priced at $82.81, a drop of 2.6% from earlier this morning, when they were at $84.06.
Disney CEO Bob Iger and Chairman of Disney Parks, Experiences & Products Josh D’Amaro are currently meeting at Walt Disney World with investors and Wall Street analysts regarding future expansions. Their strategies for “turbo-charging” Disney Parks, Experiences & Products are:
- Accelerate Storytelling
- Expand Footprint
- Advance Commercial
- Leverage Talent
- Reach New Fans
At Destination D23, Disney teased some potential Walt Disney World expansions. They are developing the largest Magic Kingdom expansion ever, which would be “Beyond Big Thunder Mountain.” At Disney’s Animal Kingdom, DinoLand U.S.A. is now set to be replaced with a Tropical Americas-themed land featuring “Encanto” and “Indiana Jones.”
Disneyland Resort is working on the DisneylandForward initiative with hopes of building another theme park, skyliner, new retail locations, and more hotels.
D’Amaro specifically referenced “Coco,” “Encanto,” “Zootopia,” and “Black Panther” during the Tuesday morning presentation, but didn’t share specific details.