The Middle East has got Disney's adult pilgrimage sites. In addition to reporting strong revenue yesterday, House of Mouse said it plans to open a theme park in the United Arab Emirates.
The company said a third of the world's population lives within a four-hour waterfront flight filled with Abu Dhabi resorts, living in its seventh park and its first flight in the Middle East.
Disney plans to provide magic as local business Miral handles the park's development and day-to-day operations, but nothing else.
- Disney doesn't own a park or put money in it. Instead, it only provides Miral with creative ideas and operational oversight.
- Disney said they will start to get IP royalties as soon as the park opens.
There is no date for ribbon cutting, but Disney CEO Bob Iger said the park usually takes up to two years and it takes about five years to develop.”
Ride Parks Bonanza
The face-to-face experience has proven to be Disney's Golden Goose. Operating profit in US parks increased 13% in the last quarter compared to the previous year.
Globally, we plan to invest $60 billion in parks and themed cruises by 2033.
But it's not just the park Screams Disney shareholders to be on a roller coaster: Disney+ and Hulu earned $336 million in the previous quarter, compared to $47 million in the previous year.– sk
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