By Mark Seavy  

Water parks are taking the plunge with brand licensing like never before. 

This focus on IP comes as non-licensed water parks—which have typically dominated the business with a mixture of regional and local facilities—are being joined by new branded offerings. 

Mattel, for example, unveiled plans for five Wonder water parks featuring attractions like lazy rivers, wave pools, and waterslides inspired by properties including Barbie and Hot Wheels at the recent International Association of Amusement Parks and Attractions (IAAPA) show. These new destinations will be launched in partnership with aquatic design and engineering firm Martin Aquatic and park operator/licensee American Resort Management, with the first park set to open in Orlando, FL.  

In doing so, Mattel is drawing on both American Resorts, which operates non-licensed Epic Waters (Grand Prairie, TX) and Wild Rivers Waterpark (Irvine, CA), and Martin Aquatic. Mattel will “layer in” entertainment into the water parks, potentially inncluding movies like the the upcoming 2026 film Matchbox or a Monster High Halloween event, said Julie Freeland, VP for Global Location-Based Entertainment (LBE) at Mattel. 

Hasbro is also continuing to develop water park plans, said Matt Proulx, SVP for Global Experiences at Hasbro.  

“There has been so much innovation in the category in terms of the types of offerings and a lot of the attractions in water parks feel like rides and that lends itself to storytelling,” said Jenefer Brown, President of Global Products & Experiences at Lionsgate Entertainment. “From an IP point of view, maybe the parks weren’t doing that as much before, but now they are going to deliver that experience.” 

Water parks do have a history with licensed IPs. Paramount Global’s Nickelodeon licensee Karisma Hotels & Resorts opened a water park in a resort in Punta Cana, Dominican Republic in 2016. . The American Dream Mall in East Rutherford, NJ followed with the 8.5-acre Nickelodeon Universe in 2020. And Merlin Entertainments has operated a Legoland water park in Johor, Malaysia since 2013.  

The dominant parks in terms of attendance, however, have historically been the non-licensed versions.  

Chimelong Water Park in Guangzhou, China was atop the Themed Entertainment Association’s (TEA) Top 20 list for 2024 with attendance of 2.6 million, an increase of 0.1% from a year earlier. It was followed by Adventure World in Dammam, Saudi Arabia (+11.1% at 2 million) and Therme Erding in Erding, Germany (+2.7% at 1.91 million). The list also includes Disney’s Typhoon Lagoon (-4.3% at 1.81 million) and Universal’s Volcano Bay (-8.3% at 1.65 million), both in Orlando. 

The value of the global water parks market is forecast to increase 8% annually, starting at $6.6 billion this year and rising to $12.5 billion in 2032 fueled by new technology like virtual reality (VR) and family-friendly experiences, according to Global Market Insights. The U.S. has a 38% share of the global market for water parks. 

“The water park industry is experiencing a transformative shift due to an increased emphasis on sustainability practices and the creation of themed attractions,” according to Global Market Insights. “Parks prioritize eco-friendly initiatives like water recycling while crafting immersive themed experiences. These dual focuses cater to environmentally conscious consumers and enhance visitor engagement, driving market growth. By aligning with sustainability goals and offering compelling attractions, water parks attract a broader audience and solidify their position in the market.” 

This shift by water parks to broaden their customer base represents an “evolution” of the industry rather than a “revolution,” as the industry competes for attention with mobile phones, streaming services, and social media to attract younger consumers, said Chris Grap, Creative Director at Martin Aquatic and former VP of Experience at Mall of America in Bloomington, MN, which is developing the $430-million Mystery Cove water park that is due to open in 2029.  

That evolution includes Martin Aquatic’s recent agreement with Mattel, which adds to its previous partnership with Hasbro. Hasbro and Mattel also share licensee Max-Matching Entertainments for LBE in China. For example, Max-Matching is opening the Top Park cluster of family entertainment centers (FEC) in Beijing in 2026, which will contain both Mattel and Hasbo FECs. 

“There are a lot of opportunities out there, and consumers will vote with their feet and wallets in terms of where they spend their money and that hasn’t changed our mind about the opportunity that is in front of us [for water parks],” Proulx said. “Our IP is absolutely first class, as is our competitor’s, and we want everyone to succeed. What we offer is a little bit different and it [Martin’s work with Mattel] doesn’t change our strategy.”