by Don Chmielewski
ANAHEIM, Calif. — Walt Disney will create a new “Avatar” experience at its Disney California Adventure theme park based on the science fiction franchise’s second film, “Avatar: The Way of Water,” the company said Saturday.
It’s the first in a series of anticipated announcements at the D23 Disney fan club event this weekend detailing how the company will begin its $60 billion capital investment.
Disney has said it will increase its investment in the parks, nearly doubling its spending over the next decade, as it reimagines attractions at its 12 parks worldwide and boosts capacity at its cruise line.
“Everything we’re going to share with you tonight is in active development,” said Josh D’Amaro, chairman of the Disney Experience. “That means plans are in place. That means soil is moving. I just want to be clear with all the fans. This is not blue sky.”
D’Amaro then took the stage for a 70-member orchestra that performed Disney music while images of the company’s theme parks appeared on the screen.
Disney’s parks have become a reliable profit engine, helping to offset the impact of declines in traditional television and losses in the video streaming business, which swung to a profit last quarter.
The experiences unit, which includes parks, cruise ships and consumer products, contributed 60% of the company’s operating profit in the most recent quarter — up from 30% a decade ago.
Disney CEO Bob Iger has said the company plans to spend $17 billion over the next decade on the Walt Disney World resort in Orlando.
These investments will build on recent attractions such as Tiana’s Bayou Adventure — inspired by Disney’s animated film “The Princess and the Frog” — the Guardians of the Galaxy: Cosmic Rewind roller coaster, and the Tron Lightcycle/Run.
The company faces stiff competition in Central Florida from rival Universal Studios, which plans to open Epic Universe next year, a 750-acre land that will include classic Universal movie monsters such as Harry Potter, dragons from the Viking world of “How to Train Your Dragon,” Frankenstein and Nintendo’s Donkey Kong.
In Anaheim, California, Disney received approval for a development plan earlier this year, clearing the way for a $2 billion investment in the Disneyland Resort.
The company hasn’t yet provided any details, saying only that it wants the flexibility to mix hotels, shops and attractions within a single themed world, as it has done at Fantasy Springs at Tokyo DisneySea Park.
“We have an obligation to continue to grow these great businesses and amazing experiences in California and Florida,” D’Amaro told Reuters in June. “And we will invest aggressively, heavily and wisely.”
This article is generated from an automated news agency feed without any modifications to the text.
