Disney is eyeing $4.5 billion in new investments in theaters over the next five years, according to a report from the company’s own analysts.
The plans for the first quarter of 2021 include building four new movie theaters in New York City and Orlando, Fla., and adding five more in California, the report said.
In addition, Disney is looking at expanding its movie theater footprint in Canada and Mexico, according the report, which was based on a report by The Wall Street Journal.
The company will invest $1.7 billion over five, five-year periods in its movie theaters and about $5 billion annually in the U.S.
The company said the plan is a “significant expansion of our theater footprint.”
The company also said it would create more than 20,000 full-time jobs.
Disney’s stock is up 5.8% since the Journal’s report was released.