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After record revenues of R$165 billion, Disney invests R$304.7 billion to grow further

The park’s revenues increased by 16% in 2023, compared to the previous year – and the profit was R$45 billion

Disney’s “magic” parks saw record revenue, with revenue of US$32.5 billion (R$165 billion) in fiscal 2023. The increase was 16% compared to the previous year. The expectation is that of even greater growth. To achieve this goal, the parks sector of the conglomerate, under the command of Josh D’Amaro, is expected to receive an investment of 60 billion dollars (equivalent to R$ 304.7 billion) over the next 10 years.

According to information obtained by the North American broadcaster CNBCoperating profit of the so-called “experiences division” – which includes theme parks – rose 23% last year, reaching $8.95 billion (about R$45.4 billion).

In previous years, due to the pandemic, park revenues had dropped dramatically. In 2020 the decline was 35% compared to the previous year. In 2021, revenue fell another 3%.

In the car, D’Amaro described the pandemic as an opportunity to breathe.

“So, as difficult as the situation was, we saw it as a platform, a new point of view from which to look at the operation,” he explained.

While the parks were closed, construction of the Avengers Campus themed sector at Disneyland continued. Other famous attractions have also been renovated, such as King Arthur’s carousel.

Grand openings have also taken place at Disney parks around the world. One of these was the world of Frozen, at Disney in Hong Kong, and a country from the film Zootropolis, at Disney in Shanghai.

To keep the parks ahead of the curve, the $60 billion (304.7 billion reais) investment will be split as follows, according to D’Amaro: 70% of this money will be allocated to “new experiences” in the parks national and international, as well as for the conglomerate’s cruise lines. The remaining 30% will be allocated to technology and infrastructure, including maintenance of existing attractions.

Source: Terra

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