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Licenses Proliferate as Parks Reopen with Capacity Constrained image

Licenses Proliferate as Parks Reopen with Capacity Constrained

As theme parks move to re-open around the globe at sharply reduced capacity the face of the industry is changing to one that might give more play for licensing.

The rate at which parks return to business levels seen in 2019 and earlier will likely be tied to vaccination rates in a given country or region. In countries where vaccination rates are high such as the United States and UK, the parks could return to pre-pandemic levels by 2022, as long as the pandemic continues to recede. In areas where COVID cases persist or reappear and vaccination rates are low, it will more likely take until 2023. Theme parks in the Middle East also are continuing to expand due largely to funding from government-backed private equity firms.

‘Live the Characters’
“IP is becoming more important [in theme parks] because people are so vested in it as fans and they want to be able to dive deeper,” says Jeffrey Godsick, Executive VP for Brand Strategy and Global Partnerships at Sony Pictures Home Entertainment. “That might mean reading a series of graphic novels or playing with the toys. But to actually ‘live’ the characters  is something that can really only be done at a theme park.”

With many park operators’ capital budgets constrained by debt taken on – both Six Flags Entertainment and Cedar Fair added about $1 billion in debt – to fund operations during the pandemic, some industry focus is shifting to revamping existing rides with licensed IP, says Jim Seay, President of ride developer/manufacturer Premier Rides.

Refreshing existing attractions
“That investment [in licensed IP) can make older attractions marketable again,” says Seay. “And even though a license could add cost, you are bringing it back to where it seems new. That could bring some excitement back to parks re-opening and operating with limited capacities that need to attract consumers again.”

Recent and upcoming developments we’ve noted:

  • Sony expects to open a 14-acre Columbia Pictures Aquaverse theme and water park in Thailand later this year with rides and attractions based on Ghostbusters, Jumanji, Bad Boys, Men in Black and Hotel Transylvania. Licensee Amazon Falls Co. is revamping a former Cartoon Network park which opened in 2014, to appeal to a broader age range as it opens post-pandemic, says Godsick, who expanded his role last fall to head location-based entertainment as part of last fall’s management restructuring at Sony Pictures. In addition, a new Hotel Translyvania attraction opened earlier this month at Dream Island Theme Park in Russia, a country where the film has been a box office hit in the past. The most recent film, Hotel Transylvania: Transformania, is due to be released in the U.S. on July 23 and in Russia on Aug. 5. Sony also is nearing agreements for four family entertainment centers, the first of which will be a 45,000-square-foot version scheduled to open in 2022, says Godsick.
  • Warner Bros. World in Abu Dhabi is due to open this summer on Yas Island. The indoor amusement center will feature 29 rides and other entertainment attractions spread across six themed lands: Metropolis, Gotham City, Cartoon Junction, Bedrock, Dynamite Gulch and Warner Bros. Plaza. There will be, among others, Superman, Green Lantern and Justice League rides.
  • Universal Resort Orlando will open the new Jurassic World: Velocicoaster on June 10 as part of Jurassic-themed Islands of Adventure. Meanwhile, a new 8,300-sq.-ft. Universal Legacy store opened on Universal CityWalk in Orlando featuring collectibles tied to Universal’s films. It replaced Fossil, Island Clothing Co. and P!Q locations. Universal Hollywood opened on April 16.
  • Disneyland and California Adventure will re-open at 15% capacity on April 30, with a new Avengers campus debuting on June 4. The park will feature cashless options either through a cellular phone of the Magic Bands and will have mobile order system for food and beverages.
  • Six Flags Entertainment, which has been opening its parks gradually over a period of months, launched a new Harley Quinn Spinsanity ride on March 6 at Six Flags America in Bowie, MD. The company also is expected open a new park –its first in the Middle East — in Qiddiya, Saudi Arabia in 2023, featuring a series of themed lands across 79 acres.

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