China's Craving for Entertainment Drives Shanghai Disney Growth
- CEO Bob Iger opens first park expansion with Toy Story Land
- Shanghai park is one of company’s most successful ever: Iger
Shanghai Disneyland
Photographer: Marcio Machado/Getty Images
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As he opened an expansion to what is proving to be one of Walt Disney Co.’s most successful theme parks, CEO Bob Iger said the $5.5 billion Shanghai Disney Resort will keep expanding to satisfy Chinese consumers’ “strong and growing demand for high-quality themed entertainment.”
The new area, a Toy Story Land in the style of the blockbuster movie franchise, is one of the fastest-paced expansions for a Disney theme park, driven by the pent-up need of China’s growing middle class for family entertainment options. The Shanghai park logged more than 11 million visitors in its first year of operations, putting it in the top seven of theme parks worldwide.