The Walt Disney Company is aiming to double its capital expenditures in the Parks, Experiences, and Products segment over the next decade, with investments totaling around $60 billion. Senior executives, including CEO Bob Iger and Chairman Josh D’Amaro, announced these plans at an investor summit in Orlando, Florida. The focus will be on leveraging the vast library of Disney stories to create immersive experiences, expanding and enhancing domestic and international parks and cruise line capacity, and maintaining a strong balance sheet. The growth strategy for the Parks business is centered around three key pillars: Stories, Scale, and Fans.

Disney's storytelling strengths will be used to create innovative experiences in the Parks and Resorts and on board its cruise ships. The Parks business has seen growth following previous periods of significant investment, and Disney plans to explore more characters and franchises to embark on a new period of growth domestically and internationally. The business has a wealth of untapped stories to bring to life across its business, according to Josh D’Amaro.

Disney has the largest physical footprint of any global theme park travel business, with 12 parks across six sites around the world. The company has no shortage of space or regions of the world to tell new stories and has over 1,000 acres of land for possible future development to expand theme park space across its existing sites. Disney Cruise Line serves as a powerful ambassador for the brand in ports and markets around the globe beyond its theme parks.

According to Disney's internal research, there is an addressable market of more than 700 million people with high Disney affinity that it has yet to reach with its Parks. By expanding its footprint and offerings, Disney aims to create new fans and loyal consumers. The company is planning to turbocharge its growth with strategic investment in the Parks business and continue to maintain a balance sheet, according to Bob Iger.