Epic Universe Will Support Disney World, Says Josh D’Amaro

Josh D’Amaro, the chairman of Disney Experiences, expressed his confidence regarding the impact of NBCUniversal’s upcoming Epic Universe theme park on visitor numbers to the Walt Disney World Resort in Orlando. Rather than being concerned, he believes that the introduction of this competing destination will actually contribute to an increase in overall attendance at Disney parks.

During his remarks at the MoffettNathanson Media, Web & Communications Conference on Wednesday, D’Amaro addressed inquiries about the Epic Universe, stating, “We’re always on the offensive… We continually invest in the future, strengthening each of our theme parks.” His proactive stance highlights Disney’s commitment to enhancing the guest experience and staying competitive in the thriving theme park industry.

He elaborated further, noting, “If something new is built in central Florida, like Epic Universe,” it has the potential to draw new visitors to the region, and “that tourist will have to visit the Magic Kingdom.” This insight underscores the interconnected nature of the Florida tourism market, where new attractions can benefit established venues by increasing overall foot traffic and interest in the area.

The highly anticipated Universal Epic Universe is set to officially open on May 22, 2025. This expansive project will cover 750 acres, making it the largest of Universal Orlando’s three theme parks. It will feature over 50 attractions spread across five themed lands: The Wizarding World of Harry Potter – Ministry of Magic, Super Nintendo World, How to Train Your Dragon – Isle of Berk, Celestial Park, and Dark Universe, promising an exciting array of experiences for visitors of all ages.

In his speech, D’Amaro also highlighted Disney’s exciting plans to launch a new theme park in Abu Dhabi, a project announced just last week. He pointed out that this year marks the 70th anniversary of Disneyland in Anaheim, California. The new Abu Dhabi park will become the company’s seventh theme park resort, making its opening a significant milestone that occurs only once every decade.

“We recognized the global demand for Disney experiences,” D’Amaro remarked regarding the company’s search for new park locations. The team focused on the Middle East region and ultimately chose Abu Dhabi, a decision influenced by the fact that one-third of the world’s population is within a four-hour flight radius of this vibrant city. “This is a crossroads for the world,” he emphasized, highlighting the strategic importance of the location.

While Disney has not yet provided a specific timeline for the construction or opening of the new park, the project is being developed in collaboration with Miral, a major developer of immersive destinations and experiences based in Abu Dhabi. Miral is financing the park’s construction under a licensing agreement with Disney. Disney will maintain creative control and oversight of the Abu Dhabi park, which is planned to be situated on Yas Island, a premier destination for entertainment and leisure, connecting travelers from the Middle East, Africa, India, Asia, Europe, and beyond. This park aims to blend Disney’s iconic stories, characters, and attractions with Abu Dhabi’s rich culture, stunning shorelines, and breathtaking architecture.

D’Amaro stated that the resort in Abu Dhabi will be “the most advanced and interactive destination in our portfolio,” allowing Disney to tell its stories in entirely innovative ways. This ambition reflects Disney’s ongoing commitment to evolving the guest experience and leveraging cutting-edge technology to create unforgettable memories for park visitors.

In 2023, Disney announced a plan to significantly increase capital spending within the Disney Experiences division to $60 billion over the next decade, nearly doubling the investment compared to the previous ten years. D’Amaro recounted that when CEO Bob Iger returned as chief in November 2022, he recognized the vast potential for growth in the theme park business. “Josh, we’ve got to turbo-charge this business,” Iger conveyed to D’Amaro, emphasizing the need for a renewed focus on expansion.

“We’ve only scratched the surface in terms of the stories we can share,” D’Amaro asserted, pointing out that Disney parks have yet to create attractions based on beloved films such as “Coco” and “Black Panther.” This comment illustrates Disney’s ongoing commitment to diversifying its offerings and exploring new narratives that resonate with audiences globally.

In the first quarter of 2025, revenue in Disney’s Experiences segment, which encompasses theme parks, cruises, resorts, and consumer products, saw a 6% increase, reaching $8.89 billion. Overall segment operating income rose by 9%, amounting to $2.49 billion, with a remarkable 13% growth in domestic parks and experiences, alongside a 14% surge in consumer products, offsetting a 23% decline in international theme parks. For the fiscal year 2025, Disney anticipates a growth of 6%-8% in operating income for both the theme park and consumer products sectors.

D’Amaro is considered one of the internal candidates being evaluated by Disney’s board as a potential successor to Iger, whose contract is set to expire at the end of 2026. The board, chaired by James Gorman, has indicated its intention to announce a new CEO early in the coming year, showcasing the ongoing strategic planning within the company.

D’Amaro began his illustrious career at Disney in 1998 at the Disneyland Resort. Over his 27-year journey, he has held various leadership positions across the company, both internationally and domestically, including serving as CFO for Disney Consumer Products Global Licensing, Chief Commercial Officer for Walt Disney World Resort, and in numerous roles in business planning, strategy, marketing, creativity, and operations. Before becoming chairman of Disney Experiences, D’Amaro was the president of both Disneyland Resort and Walt Disney World Resort, showcasing his extensive experience and leadership within the Disney organization.