Disney is accelerating its theme parks spending over the next 10 years to create new attractions, parks and cruise liners for its themed entertainment business. It’s a move that will see the company invest nearly US$60 billion in parks growth. 

The plan is to leverage several untapped franchises and characters for new attractions in Disney parks globally. These include Black Panther’s fictional setting of Wakanda and the world of Coco (2017) as possible additions. According to the company’s internal research team, 700 million people with a high affinity for Disney properties have yet to visit any of its theme parks.

The House of Mouse has more than 1,000 acres of land available for future development projects at its six parks around the world—equivalent to seven new Disneyland parks in size, according to the company. Disney also plans to add two new ships to its cruise line fleet, with one ship launching in the 2025 fiscal year and another setting sail in 2026. Its current pair of cruise liners travel to 94 ports across 40 countries. 

Disney CEO Bob Iger and parks, experiences and products chairman Josh D’Amaro unveiled the plan to analysts and investors at the Walt Disney World Resort in Orlando, Florida as part of a three-day summit. 

The move to double its theme park spending is a result of double-digit growth in the company’s parks & resorts segment, which generated US$8.3 million in revenue in Q3—a 13% spike from US$ 7.2 billion during the same period last year, according to Disney’s Q3 financial report. Last year, the company posted a record-breaking US$28 billion in theme park revenue—a whopping 71% increase from 2021—according to its 2022 year-end financial results.