ANAHEIM, California, June 12 (bdnews24.com/Reuters) - Walt Disney on Monday launched a 'Finding Nemo' submarine ride with underwater animation at its Disneyland park, in an effort to use its Pixar film division to bolster theme park admissions.
Disney saw attendance at its parks rise to record levels the past two years as a result of its Disneyland 50th anniversary celebration, and was hoping that refreshing some older rides with Pixar themes will keep ticket sales strong.
Disney Chief Financial Officer Tom Staggs said last year the company would invest a little more in its theme parks in fiscal 2007 than the previous year, especially around attractions derived from its Pixar animated films.
The company had invested $396 million in its five parks and resorts in the first six months of fiscal 2007, compared with $344 million in the same period last year, according to financial filings. Disney's fiscal year begins October 1.
The company has said it will spend less than $1 billion in domestic parks capital expenditures this fiscal year.
The 'Finding Nemo' Submarine Voyage takes riders on a 12-minute voyage through a luminous Australian barrier reef and a lost civilization to search for the clownfish made famous in the 2003 Pixar film.
Disney used the bones and ships of the former Submarine Voyage attraction, which closed nine years ago, to design an updated underwater tour featuring original 'Nemo' animation that appears to be projected onto water.
The eight 40-passenger submarines, built for the original 1959 ride, were painted yellow, switched from diesel to electric motors and outfitted with interior sound systems that synchronize with what is going on outside each porthole.
Passengers sit below the water line in the ship, which moves on a track in the Southern California park.
SMH Capital analyst David Miller on Monday estimated the 'Finding Nemo' ride upgrade took Disney about three years and cost some $172 million.
Disney Parks and Resorts Chairman Jay Rasulo said the company would continue to leverage Pixar titles for new attractions to bring in younger park-goers. Both Disneyland and Florida's Walt Disney World are set to open 'Toy Story'-themed Midway Mania attractions later this year.
"There have been great stories coming out of Pixar that we would like to tell at the parks," Rasulo said.
The division's research and development teams also are working to incorporate more wireless technology into enhance attractions, Rasulo said.
That effort started last month when both US parks added wireless hotspots to let parkgoers access unique features of Disney's 'Pirates of the Caribbean' online game while in the parks.
"Kids today look for interactivity -- technology that is beyond what they can find in their (homes)," he said.
In a note to clients, Miller speculated that the Nemo ride could be the first in a series of new attractions at Disneyland's companion park, California Adventure, which has seen soft attendance since its 2001 opening.
Rasulo said Disney intends "to continue to fill out the entertainment in that park .... You can definitely look for further expansion and additional entertainment there."
Disney's shares edged down 6 cents to $34.14 on the New York Stock Exchange in late-afternoon trading.
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