Disney reveals plans for $60B expansion of theme parks business

Amidst the ongoing SAG-AFTRA and WGA strikes, which have been demanding fair pay for workers from big studios like Disney, Netflix, and Amazon, Disney has revealed plans for a controversial decision, much to the shock of many fans awaiting the resolution of the strike-related conflicts, which have put Hollywood on a standstill.

In a recent presentation to investors, Walt Disney Co. has reportedly revealed plans for a huge expansion of around $60 billion over the next 10 years to aid the growth of its theme parks, products, and cruise line business. As per reports from The Hollywood Reporter, "The company said that it had more than 1,000 acres of land available for development, including at Disneyland in California, Florida, its theme parks in France, China, and Japan; and cruise ship ports in the U.S., Asia, and Australia."

Previously, Bob Iger also said that the company had plans to invest $17 billion in its theme parks over the next 10 years. It is currently not clear whether the aforementioned amount is included in the $60 billion quoted by the company.

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Disney reveals big plans for its future projects

While Disney seems to be the main villain in the struggle with the SAG-AFTRA and WGA, it is also planning one of the most aggressive expansions seen for any company. The company announced in its investor briefing:

"Today, as the company considers future growth opportunities, there is a deep well of stories that have yet to be fully explored in its theme parks."

They also talked about plans to explore other characters from the vast universe they created over decades.

The company further elaborated:

"As previously announced, over the next two years, the company will nearly double the worldwide capacity of its cruise line, adding two ships in fiscal year 2025 and another in 2026, delivering even further growth potential and introducing new markets to experiences, including a new homeport in Singapore beginning in 2025 to expand its reach further into the Asia-Pacific region."

Despite the perks of having such a huge expansion, which would have otherwise impressed fans across the globe, the company was hit by a massive backlash from online communities, where fans could not seem to figure out why the company was spending such huge amounts for expansions while not contributing the amount needed to end the strike.

A tweet reply to DF's post (Image via Twitter)

According to reports, a fair deal to the writers, which has been the major cause for the holdout, would only cost the company 0.88% of its annual revenue.

As of now, the WGA and SAG-AFTRA strike continue to rage on amidst reports of negotiations ongoing.