Walt Disney, the renowned media and entertainment giant, has unveiled an ambitious multi-year expansion strategy for its theme parks and cruise lines. This initiative comes as the company seeks to rejuvenate its experiences segment, particularly in light of the current trends in consumer demand. In a bold move, construction is set to begin at Disney's Magic Kingdom in Florida in 2025 with two brand new attractions inspired by Pixar's beloved 'Cars' franchise.
Furthermore, a thrilling addition will be the Villains Land, which promises to delve into the 'darker side' of Disney's fairy tales. The company is excited to commence this construction 'soon,' showcasing its commitment to delivering fresh experiences to park-goers. Moving to Hollywood Studios, Disney plans to take guests on a nostalgic journey with a new attraction centered around the 'Monsters, Inc.' movie franchise, slated to begin construction next year.
Within the lush confines of Disney's Animal Kingdom, fans can anticipate the unveiling of Tropical Americas in 2027, a unique blend featuring both Indiana Jones and the enchanting characters from the Walt Disney Animation Studios hit film 'Encanto.' At Disney California Adventure, excitement continues to build as the park operator announces plans for an incredible new attraction inspired by the visually stunning 'Avatar' films.
In tandem, the already popular Avengers Campus will double in size, replete with two thrilling new attractions. Also slated for construction in 2026 is a new experience inspired by the heartwarming film 'Coco.' Internationally, Disney is not slowing down. The company is set to introduce new Avengers experiences at its resorts located in Shanghai and Hong Kong.
Additionally, Disneyland Paris will welcome its guests with the first-ever ride-through attraction themed around the timeless classic, 'The Lion King.' On the cruise front, Disney has exciting news as well. The company is set to launch four new cruise lines from 2027 to 2031, bringing its total fleet to an impressive 13 ships.
These announcements signal a strong commitment to expanding their experiences division, particularly after reporting that third-quarter revenue in this segment, which includes parks and cruises, rose 2% year over year to $8.39 billion, despite an operating income dip of 3% to $2.22 billion. The recent performance was notably characterized by flat attendance during the quarter.
Chief Financial Officer Hugh Johnston shared insights with analysts on an earnings conference call, indicating that the company anticipates a 'flattish revenue number' from its experiences in the fourth quarter, along with a few more quarters of 'likely similar results.' Despite these challenges, Johnston expressed optimism about the future, stating, 'The investments that we're making into the experiences business, we feel very, very good about.
It's been a great-returning business for a long time.' He emphasized the company's strategy of making capital investments in an accelerated manner, which signifies their expectation for future growth in these businesses. With a current stock price of $86.04, having seen a slight change of -0.17 and a percent change of -0.20, $DIS continues to excite its investors and fans alike as it adapts to an evolving marketplace and seeks to create magical experiences for all.
This multi-dimensional expansion not only aims to elevate Disney's parks and cruise lines but also indicates a broader strategy to maintain its competitive edge in the entertainment landscape while catering to the passionate fans that cherish the Disney experience..