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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Walt Disney Entertains Renovation Plans for Epcot

The Walt Disney Co. revealed renovation plans for Epcot in order to honor the park’s 35th anniversary at Walk Disney World in Orlando, Florida. The planned renovations include featuring several film-inspired attractions that will update the park for previous visitors, while drawing in new crowds to populate the famous park.

The media and entertainment company’s goal is evolving itself and adapting to younger audiences by including “more timeless, more relevant, more family and more Disney” while maintaining its belief in celebrating human excellence. The idea is to add to its repertoire through several newly revealed offerings to counter being outdated while also refraining from morphing its original purpose.

These plans were revealed during the D23 Expo, a convention for Disney fans, with the intention of completing most of its upcoming projects in time to celebrate the 50th anniversary of Disney World in 2021. Walt Disney’s large investment into its parks help certify their importance to the company’s future, as compensation for the slowing growth in its media networks. In 2016, Disney parks accrued $17 billion in revenue, signifying a 5 percent increase on its previous year.

Disney’s media networks make up the largest portion of its business, however this has reduced due to advertising sales lag and the fact that consumers are cutting cable for other entertainment service providers such as Netflix. Instead of betting on one market, Disney is diversifying itself in order to reduce potential risks while also increasing or strengthening the variety of its services as the support for its future.

Epcot opened in 1982 and is two times the size of Disney World’s main park, Magic Kingdom, yet despite its size it attracted 8.7 million fewer guests in 2015. Urging for more traffic to offset the costs of a huge park, while also trying to balance its budget, Disney has been introducing more characters to the park. A successful venture on this front was the inclusion of a Frozen themed boat ride last year that attracted visitors due to its affiliation to the hit movie.

While Disney is pressing the perseverance of its original mission to highlight human excellence, adjustments need to be made for its renovation, resulting in the closing of certain rides that follow Disney’s mission in favor of newer more exciting but less informative rides. Ellen’s Energy Adventure, a 1996 ride that discusses the history of energy by talk show host Ellen DeGeneres and television presenter Bill Nye the Science Guy, will be replaced by a new ride around the theme of Guardians of the Galaxy, a marvel superhero franchise in outer space, exemplifying the changes being made.

However, it is important that the services provided match the needs of the customers, otherwise the business will fail. And so these changes may be necessary, even if they signify a shift away from the company’s original mission. Walt Disney originally imagine Epcot as a nexus of futuristic innovation, but after his death the company decided to make it an amusement park instead. The park is ambitioned to combine a representation of cutting edge technology while also showcasing international cultures.

While the introduction of new rides will be invaluable in attracting and inviting visitors both new and old, Disney’s focus should not reside solely on these new projects. Disney will need to ensure that they maintain a steady stream of new innovations and rides into the future, as they will otherwise face similar issues again in the future for failing to continue reinvigorating their parks.

Furthermore, the park requires more investment in maintenance in its infrastructure as unused ride parts are still visible to visitors, tiles being taped together in an unprofessional manner, and even parts of the monorail falling off. No plans have been announced regarding infrastructure, but adding one new attraction amongst other failing ones is not a way of ensuring your visitors revisit.


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