Shanghai Disneyland is currently scheduled to open in June of this year, and it will be the first mainland China Disney resort. Right now, the gigantic park is hoping for that opening, but some financial issues and delays may cause that to be pushed back a bit. Well, reports are now coming out that the amount of money being spent to build Shanghai Disneyland are causing financial issues at domestic parks, Walt Disney World and Disneyland.
An unconfirmed report from WDWNT states that Shanghai Disneyland is so far over budget and behind schedule that money is most likely going to come from cost-cutting measures at the domestic theme parks.
In Florida, Walt Disney World has seen similar cuts in the past couple of weeks, as other locations are also seeing downsizing. Some of those locations include the following.
- Walt Disney World Resort hotel curbside greeters
- Character meet-and-greets (Three at Epcot, one at Magic Kingdom so far)
- Front desk and concierge Cast Members will only be offered 32 hours a week instead of 40
Magic Kingdom will soon see Lady Tremaine's meet-and-greet come to an end. At Epcot, Chip and Dale, Princess Aurora, and Winnie the Pooh all had their meet-and-greet locations end a few days ago. Some of them are expected back later this year, but that has yet to be confirmed.
It seems more and more like Shanghai Disneyland is going to continue to require more and more money to be completed. That money is going to have to come from somewhere, and right now it appears as if the domestic Disney Parks will feel the brunt of it.
Owners to Invest $800 Million More in Shanghai Disneyland https://t.co/P2arVCa6xvThat report from the L.A. Times came in April of 2014, when much of Shanghai Disneyland still was not even built yet. The huge Disney Resort is using that $800 million to increase the number of rides and attractions operating on opening day, which Disney still hopes is June 16, 2016.
— Chuck Mirarchi (@DisneyJournal) February 16, 2016
As all of this is taking place, Bloomberg reports that Hong Kong Disneyland has shown a loss of $19 million for the fiscal year that ended in early October, 2015. It is the first loss in four years for the theme park.
The problems that have come about from Shanghai Disneyland are apparently having the losses felt over in the United States. Cast Members on the lower end of the pay scale for Walt Disney World and Disneyland may not just see their hours reduced, but positions may be cut completely.
In the meantime, Disney does have a number of projects going on that will be revealed in the following years.
- Pandora: Avatar-themed land opening in 2017
- Disney Springs completion in 2016
- Toy Story Land at Disney's Hollywood Studios – Opening TBD
- Star Wars-themed land at Disney's Hollywood Studios and Disneyland – Opening TBD
- "Frozen Ever After" attraction and Anna & Elsa meet-and-greet at Epcot – Opening Spring 2016
- Expansion of ESPN Wide World of Sports: Cheerleading Venue -- Mid-2017
Reports of the budget cuts coming to both Disneyland and Walt Disney World do have some backing as changes are already starting to be seen. It is not totally confirmed and known if the delays and budget increase for Shanghai Disneyland is indeed to blame, but the two may end up being connected.
[Image by Danny Cox]