{"id":67881,"date":"2016-05-24T09:32:08","date_gmt":"2016-05-24T13:32:08","guid":{"rendered":"http:\/\/www.businesspundit.com\/?p=67881"},"modified":"2020-09-21T13:34:06","modified_gmt":"2020-09-21T17:34:06","slug":"one-of-chinas-billionaires-wants-disney-to-fail-miserably-shanghai-05-2016","status":"publish","type":"post","link":"https:\/\/www.businesspundit.com\/one-of-chinas-billionaires-wants-disney-to-fail-miserably-shanghai-05-2016\/","title":{"rendered":"One of China’s billionaires wants Disney to fail miserably in Shanghai"},"content":{"rendered":"

\"Disney<\/p>\n

Chinese billionaire Wang Jianlin is hoping Disney will fail miserably with its new theme park set to open in Shanghai next month.<\/p>\n

Jianlin believes it will take the $5 billion park at least 10 to 20 years to turn a profit.<\/p>\n

Wang’s Dalian Wanda Group is also in the theme park business, and he says Disney didn’t pick a good location for its massive attraction.<\/p>\n

“Disney really shouldn’t have come to China,” Wang said on Chinese state television on Sunday. “It’s financial prospects don’t look so good to me.”<\/p>\n

He said Shanghai’s climate doesn’t suit an outdoor theme park, and that will require the company to overcharge and ultimately lose customers.<\/p>\n

A spokeswoman for Disney said Wang’s remarks are “not worthy of a response.”<\/p>\n

The new theme park has been talked about since the mid-2000s. Construction problems and design changes pushed the parks grand opening from late 2015 to mid 2016.<\/p>\n

Disney has implemented traditional design features and storytelling from China to appease the local audience.<\/p>\n

Theme parks and resorts helped the media company generate more than $16 billion in revenue in 2015, the second most revenue behind the company’s TV business.<\/p>\n

Disney movies are very popular in China, the world’s second largest media business.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chinese billionaire Wang Jianlin is hoping Disney will fail miserably with its new theme park set to open in Shanghai next month. Jianlin believes it will take the $5 billion park at least 10 to 20 years to turn a profit. Wang’s Dalian Wanda Group is also in the theme park business, and he says […]<\/p>\n","protected":false},"author":33,"featured_media":67882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25,54],"tags":[4061,11117],"class_list":{"0":"post-67881","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-media","9":"tag-disney","10":"tag-disney-shanghai"},"acf":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/67881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/comments?post=67881"}],"version-history":[{"count":1,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/67881\/revisions"}],"predecessor-version":[{"id":67883,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/67881\/revisions\/67883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media\/67882"}],"wp:attachment":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media?parent=67881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/categories?post=67881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/tags?post=67881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}