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Disney invests in parks
Disney and Netflix increase investment in live experiences to match changing consumer preferences.
Kieran Ryan
June 02, 2024
Forget inflation: Americans are spending money on experiences.
According to The Washington Post, consumer spending on foreign trips and live entertainment rose nearly 30% in 2023.
As such, many businesses are adapting to match changing consumer preferences.
Disney’s experiences division posted $32.5 billion in revenue for FY 2023, an increase of 16% over the previous year. Over the next ten years, it plans to invest $60 billion to upgrade experiences (including theme parks).
Earlier this year, Netflix closed a $5 billion deal to move into live events and experiences with Raw and other programming from World Wrestling Entertainment.
Turns out inflation won’t stop Americans from having fun.
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