Disney invests in parks

‍

Forget inflation: Americans are spending money on experiences.

‍

According to The Washington Post, consumer spending on foreign trips and live entertainment rose nearly 30% in 2023.

‍

As such, many businesses are adapting to match changing consumer preferences.

‍

Disney’s experiences division posted $32.5 billion in revenue for FY 2023, an increase of 16% over the previous year. Over the next ten years, it plans to invest $60 billion to upgrade experiences (including theme parks).

‍

Earlier this year, Netflix closed a $5 billion deal to move into live events and experiences with Raw and other programming from World Wrestling Entertainment.

‍

Turns out inflation won’t stop Americans from having fun.