9
Credit: Inside the MagicIn the 2024 Annual Shareholder’s Meeting, Disney CEO Bob Iger revealed what they had to show for Disney’s $60 billion investment into parks and experiences: nothing.
Related: Ron DeSantis to Ban Disney Cast Members From Drinking Water
The 2024 Annual Meeting of Shareholders marked a significant victory for CEO Bob Iger. After a year filled with controversy and box office disappointment, Iger and the board successfully fought off Nelson Peltz and Blackwells, preventing them from earning seats on the board and altering the company’s values.
However, the meeting still left much to be desired, specifically when it came to updates about the parks. There were no updates for Tiana’s Bayou Adventure, and the only thing we learned about Fantasy Springs at Tokyo Disneyland Resort is that it’s coming. However, the thing that disappointed the fans the most was Iger’s response to the announced $60 billion investment in the parks.
Disney Has “Nothing Tangible” To Show For $60 Billion Investment
Related: Elon Musk Officially Becomes Enemy of Bob Iger in Latest Announcement
On September 19, 2023, the Walt Disney Company announced they would invest $60 billion into the Parks and Experiences division over the next ten years. Naturally, fans have been eagerly anticipating any news about what this will be going toward. Unfortunately, it seems like these fans will have to wait a little longer until something is announced.
When asked by a shareholder what exactly has come from this investment so far, Disney CEO Bob Iger admitted that the company has “nothing tangible” to show. Instead, there have been multiple developments behind the scenes without anything to show for it at this time.
This reflects a significant criticism of the current state of Disney. Instead of having anything physical to get parkgoers invested, there are plenty of concepts and “blue sky ideas” of what could be, like the new concept art for a potential area based on Avatar (2009) in Disneyland. While this is exciting in its own right, it’s not the same as constructing a new theme park or an image of what it will actually be.
Right now, the biggest concern for Disney is the development of Universal’s Epic Universe, a park coming to Florida that will incorporate multiple beloved franchises, including Shrek, How To Train Your Dragon, Universal Monsters, and more.
Related: Confirmed: Disney CEO Bob Iger Divulges 5th Park Plan Amid Universal Takeover
When asked about countering that, Iger only mentioned attractions they have already built, like TRON Lightcycle / Run, Remy’s Ratatouille Adventure, and Guardians of the Galaxy: Cosmic Rewind. Yes, they’re great rides, but it’s not the same as a new land or theme park.
That being said, there is still hope for what will come to Disney Parks in the United States. Disney is already working with the Central Florida Tourism Oversight District to develop new projects, and it looks like they’ll get an expansion approved for Disneyland in California by the end of the month. Only time will tell if it will be able to stave off the force that is Epic Universe.
Do you think Disney is ready to take on Epic Universe? Let Inside the Magic know in the comments down below!