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As for being a financial issue---I don't know. Disney seems to be the only big player that isn't making big additions. In the Orlando area, Universal adds the Simpsons Ride and a whole land for Harry Potter that's gotta cost hundreds of millions. Busch adds Aquatica, a huge water park. Around the country, parks are making major additions in rides, water and shows. And it seems like most of them are not cutting current shows, etc., unless they are replacing it with the new thing.
Islands of Adventure hasn't added any attractions (major ones) since the park opened in 1999. It's gone ten years with virtually no changes at all... and the park is suffering attendance-wise. Their additions aren't because the economy is in an upturn - the addition of Harry Potter (mostly probably due to the new ownership of NBC/Universal) is an effort to breathe life back into something that's struggled, as far as I'm aware. Harry Potter is a sizzling hot franchise right now, and any delays to jump on the bandwagon could spell a loss of hundreds of millions of dollars in potential revenue. Unlike Disney, Universal can't afford to play it conservative right now and "wait out the storm." They have a different set of investors, a different company plan, and they're honestly a different entity than Disney. Universal/IOA is still not a "destination" right now like WDW is, as much as they may try. They risk losing far more than Disney does, and Disney can afford to play their hand conservatively, which often pays off in the long run.
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And as for "spending too much on new things," what new things? American Idol seems like it cost almost nothing. Toy Story was some expense, and I guess this new Pleasure Island will be some cost, but what big new expensive thing are they scrimping because of. Or is something on the horizon?
Star Tours 2 is being developed right now (confirmed by multiple sources if not officially announced yet, and it's more than just a new ride film. Potentially new ride simulators, 3D technology, etc) and may open in 2010, and rumors of major attraction addition(s) for Fantasyland as well as a potential addition to World Showcase.