Table of Contents
Overview
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- What you need to know
- Definitions
- Destination parks
- Regional parks
Executive Summary
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- The issues
- Smaller parks overshadowed by might of Disney, Universal
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- Figure 1: Annual revenues of major parks ($ millions) 2016, and percentage change 2015-16
- Slow growth in population of children
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- Figure 2: Population of children younger than age 18, by age, 2017-22
- High costs keeping some away
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- Figure 3: Theme park deterrents – Select items, by rank, January 2017
- The opportunities
- Most theme parks growing
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- Figure 4: Top 10 amusement parks in North America, by attendance (2015) and growth, 2014-15
- 18-34s, Hispanics, parents visit frequently
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- Figure 5: Theme park visitation – Have visited more than once in the last 12 months, by key demographics, January 2017
- Franchises, new tech have broad appeal
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- Figure 6: Reasons to visit a theme park – Attractions, January 2017
- Food and drinks dominate park spend
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- Figure 7: Theme park purchases – Food and drink, January 2017
- Older adults could use a rest
- What it means
The Market – What You Need to Know
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- Substantial growth expected for theme parks
- Disney dominates
- Warm weather bodes well for theme parks
- Stagnant population of children mostly offset by growing income, Hispanic population
Market Size and Forecast
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- Growing attendance, increasing admission prices drive growth
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- Figure 8: Total US revenues and fan chart forecast of theme parks, at current prices, 2011-21
- Figure 9: Total US sales and forecast of theme parks, at inflation-adjusted prices, 2011-21
Market Breakdown
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- Ticket prices, innovation drive growth
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- Figure 10: Annual revenues of major parks ($ millions) 2016, and percentage change 2015-16
- Bigger parks have higher guest spend
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- Figure 11: Revenue per capita and spending growth per capita of major parks, 2015 and 2014-15
Market Perspective
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- Florida and California popular vacation spots
- Summer is hot for vacations
- Millennials crave experience
- The normalization of integrated technology
Market Factors
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- Stagnant population growth of children could hurt attendance
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- Figure 12: Best Vacation Ever – Universal Orlando® Resort, January 2014
- Figure 13: Population of children younger than age 18, by age, 2017-22
- Household incomes on the rise for families
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- Figure 14: Median household income of families with related children, in inflation-adjusted dollars, 2005-15
- Hispanic population on the rise
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- Figure 15: Population by Hispanic origin, 2012-22
- Consumer confidence entering 2017 on a high note
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- Figure 16: Consumer Sentiment Index, January 2007-January 2017
Key Players – What You Need to Know
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- Disney operates top five theme parks
- Cross-platform and franchise integration proves successful
- SeaWorld hoping to rebound
- The new, virtual world
Leading Theme Parks Overview
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- Disney World leads the pack, Universal growing
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- Figure 17: Top 10 amusement parks in North America, by attendance (2015) and growth, 2014-15
- Regional parks generally round out top 20
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- Figure 18: Rest of the top twenty theme parks in North America, by attendance and growth, 2015
What’s Working?
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- The integration of intellectual property
- Special events have people coming back
- Planning made easy with mobile tech
- Everything on the phone
- Wearable tech makes thing easier
- Splurging for comfort and style
What’s Struggling?
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- SeaWorld’s struggles
What’s Next?
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- The many faces of virtual reality
- All VR parks
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- Figure 19: First look at THE VOID, informational video, May 2015
- Augmenting existing attractions
- No need to wait in line
- Expanding the immersive experience
- Taking visitors to another world
- Full-size dinosaurs in Japan
- The show is all around you
- New foods supplement old favorites
The Consumer – What You Need to Know
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- Frequent theme park visitation common
- Planning ahead popular
- Food and drink purchases necessary
- Balancing the new with the familiar
- Price is a pain point
- High cost worth a memorable experience
- Franchises, new tech are popular
- Tradition, safety influence theme park attitudes
- Stressed-out Splurgers most influential consumer segment
Theme Park Visitation
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- Majority of adults have gone to theme parks
- Destination parks are most popular
- Frequent visitation is more common than a single visit
- Four in 10 have not gone in last three years
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- Figure 20: Theme park visitation, by frequency and type of theme park, January 2017
- Hispanics, parents are most frequent visitors
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- Figure 21: Theme park visitation – Have visited more than once in the last 12 months, by key demographics, January 2017
- Regional and destination theme park visitors similar
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- Figure 22: Destination and regional theme park visitation – Any visit in the last 12 months, by key demographics, January 2017
- Attendance by teens and kids relatively steady
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- Figure 23: Adults’ and teens’ past 12 month theme park visitation, kids’ theme parks visitation incidence, 2006-16
Theme Park Planning
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- Going straight to the source
- Looking for the best deal
- Other internet sources also useful
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- Figure 24: Theme park planning, January 2017
- Women think ahead
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- Figure 25: Theme park planning – Select items, by gender, January 2017
- Younger adults go online
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- Figure 26: Theme park planning – Select items, by age, January 2017
- Parents less price conscious and using online sources to plan
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- Figure 27: Theme park planning – Select items, by parental status, January 2017
- Hispanics plan online
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- Figure 28: Theme park planning – Select items, by race and Hispanic origin, January 2017
Theme Park Purchases
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- Day trips require food
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- Figure 29: Theme park purchases, January 2017
- Purchases change with age
- Food and drink for older adults
- Novelty for younger adults
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- Figure 30: Theme park purchases – Select items, by age, January 2017
- Parents pay for memories
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- Figure 31: Theme park purchases – Select items, by parental status, January 2017
- Black theme park visitors switch-up food options
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- Figure 32: Theme park purchases – Select items, by race/Hispanic origin, January 2017
Reasons to Visit a Theme Park
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- Attractions bring people in
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- Figure 33: Reasons to visit a theme park, January 2017
- Women, parents gravitate toward the familiar
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- Figure 34: Reasons to visit a theme park – Select items, by parental status by gender, January 2017
- High-income households don’t care as much about new experiences
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- Figure 35: Reasons to visit a theme park, by household income, January 2017
- Black adults least likely to repeat
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- Figure 36: Reasons to visit a theme park, by race and Hispanic origin, January 2017
Issues with Theme Parks
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- High cost, long lines an issue
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- Figure 37: Theme park issues – Select items, by rank, January 2017
- Price important to women
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- Figure 38: Theme park issues – Select items, by gender, January 2017
- Safety a concern for younger adults
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- Figure 39: Theme park issues – Select items, by age, January 2017
- Non-parents looking for discounts, parents for security
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- Figure 40: Theme park issues – Select items, by parent status, January 2017
- Black, Hispanic adults worried about safety
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- Figure 41: Theme park issues – Select items, by race and Hispanic origin, January 2017
Why People Don’t Go
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- Price overwhelmingly the most significant deterrent
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- Figure 42: Theme park deterrents – Select items, by rank, January 2017
- Younger adults most price conscious
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- Figure 43: Theme park deterrents – Select items, by age, January 2017
- Hispanic, Black adults worried more about food and safety
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- Figure 44: Theme park deterrents – Select items, by race and Hispanic origin, January 2017
Attitudes toward Theme Park Purchases
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- Parks worth the high price
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- Figure 45: Attitudes toward theme park purchases, January 2017
- Men more willing to spend
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- Figure 46: Attitudes toward theme park purchases, by gender, January 2017
- 25-44s more willing to pay more
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- Figure 47: Attitudes toward theme park purchases, by age, January 2017
Attitudes toward Theme Park Attractions
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- Balancing the new with the familiar
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- Figure 48: Attitudes toward theme park attractions, January 2017
- Parents get excited for their children, fathers prefer adult-centric activities
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- Figure 49: Attitudes toward theme park attractions, by parental status and gender, January 2017
- Hispanics excited about attractions
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- Figure 50: Attitudes toward theme park attractions, by race and Hispanic origin, January 2017
Attitudes toward Theme Park Experiences
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- Creating family traditions
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- Figure 51: Attitudes toward theme park experiences, January 2017
- Good reputations go a long way
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- Figure 52: Attitudes toward theme park experiences, January 2017
- Younger adults worry about stress, safety
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- Figure 53: Attitudes toward theme park experiences, by age, January 2017
- Tools to ease stress could help Hispanics
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- Figure 54: Attitudes toward theme park experiences, by Hispanic origin, January 2017
Consumer Segmentation
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- Factors
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- Figure 55: Theme park guest segments, January 2017
- Stressed-out Splurgers (28%)
- Demographics
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- Figure 56: Profile of Stressed-out Splurgers, index to all theme park visitors, January 2017
- Characteristics
- Opportunities
- Reluctant Retirees (28%)
- Demographics
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- Figure 57: Profile of Reluctant Retirees, index to all theme park visitors, January 2017
- Characteristics
- Opportunities
- Flexible Frequenters (25%)
- Demographics
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- Figure 58: Profile of Flexible Frequenters, index to all theme park visitors, January 2017
- Characteristics
- Opportunities
- Unimpressed and Uncaring (19%)
- Demographics
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- Figure 59: Profile of Unimpressed and Uncaring, index to all theme park visitors, January 2017
- Characteristics
- Opportunities
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – The Market
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- Figure 60: Total US revenues and forecast of theme parks, at current prices, 2011-21
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