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Theme Parks - US - April 2009

SCOPE AND THEMES
What you need to know
Definition
Data sources
Sales data
Consumer survey data
Abbreviations and terms
Abbreviations
Terms
EXECUTIVE SUMMARY
Growth of theme park revenues slows with economy
Disney parks dominate in number of visitors drawn
Attendance growth challenged by pullback in tourism
Theme parks face competition from at-home entertainment and cheaper alternatives
Most parks find unique point of differentiation in television advertising
Families with children drive the theme park business
Visitors strongly drawn by new rides and features
The internet is a critical channel for price promotions
Empty nesters are a growing segment worth targeting
Asian Americans and the late teen female demographic are also notable
INSIGHTS AND OPPORTUNITIES
Appeal to teen girls, aging Boomers and non-traditional families for growth
Target teenage girls with pop culture
Non-traditional families
Over-45s
Innovating the next generation of theme park entertainment
Turn the recession into a reason to escape
INSPIRE INSIGHTS
 TREND: STAYING CONNECTED
A theme park community
 TREND: RISE OF THE SCREENAGER
Making it bigger
Counter-trend marketing
MARKET SIZE AND FORECAST
Market size
Figure 1: Total U.S. revenues for amusement and theme parks, at current prices, 2003-13
Figure 2: Total U.S. revenues for amusement and theme parks, at inflation-adjusted prices, 2003-13
Attendance
Figure 3: Total U.S. admissions for amusement and theme parks, 2003-13
COMPETITIVE CONTEXT
At-home entertainment increases in time consumption
Figure 4: Hours of filmed entertainment change in consumption per person per year, 2003-07
Internet
Video games
Camping out as a more economical family alternative
Zoos and aquariums are another lower-cost substitute
Live entertainment has exploded nationally
SEGMENT PERFORMANCE
Introduction
Admissions revenue strong, ancillary revenues weaker
Figure 5: U.S. revenues and forecast for amusement and theme parks, at current prices, by segment, 2003-13
Figure 6: U.S. revenues for amusement and theme parks, by segment, 2006-08
ADMISSIONS
Operators grow per capita revenue faster than attendance
Figure 7: U.S. revenues and forecast for amusement and theme park admissions, at current prices, 2003-13
MERCHANDISE AND DINING
Ancillary revenues suffer directly from lower attendance
Figure 8: U.S. revenues and forecast for amusement and theme park merchandise & dining, at current prices, 2003-13
OTHER REVENUES (AMUSEMENT MACHINES, ADVERTISING, ETC.)
Ad revenue falls in the wake of recession, flat attendance
Figure 9: U.S. revenues and forecast for other revenues*, at current prices, 2003-13
MARKET DRIVERS
Recession reduces discretionary spending on travel
States with destination theme parks see decline in tourist traffic
Currency shifts may reverse admissions growth
Figure 10: Visitors to the U.S. from Western Europe and the dollar/euro exchange rate, 1999-2009
Theme park consumer base growth to lag behind general population
Figure 11: U.S. population theme park visitation, by age group, 2008-13
LEADING THEME PARKS
Disney parks lead in attendance and growth
Figure 12: Top 20 theme parks by attendance in North America, 2007
Disney
New offerings
Other
Six Flags
New rides
New attractions
Other
Universal Studios
New offerings
Other
Busch Entertainment Corporation
New offerings
Other
TELEVISION ADVERTISING
 OVERVIEW
Figure 13: Media expenditures of destination theme parks, 2006-07
Disney
Figure 14: Disney Parks TV ad – Celebratory Moments, December 2008
Figure 15: Disneyland Resort TV ad – Halloween, October 2008
Six Flags
Figure 16: Six Flags – Resolve TV ad, December 2008
Figure 17: Six Flags – Fright Fest TV ad, September 2008
Universal Studios
Figure 18: Universal Orlando Resort – Inner Super Hero TV ad, February 2009
Figure 19: Universal Studios Hollywood – Simpsons Ride TV ad, June 2008
Sea World/Busch Gardens
Figure 20: Sea World – Discover the World TV ad, January 2008
Figure 21: Sea World – Fun Card TV ad, January 2009
Figure 22: Busch Gardens – Fun Card TV ad, January 2009
Figure 23: Busch Gardens – Summer Nights Concerts TV ad, July 2008
Other regional parks
Figure 24: Cedar Point – Family Road Trip TV ad, July 2008
Figure 25: Knott’s Berry Farm – Walking Dead TV ad, October 2008
PRICING PROMOTIONS
 OVERVIEW
Disney
Six Flags
Universal Studios
Sea World/Busch Gardens
INCIDENCE OF THEME PARK ATTENDANCE, AND PARKS VISITED
Domestic visitor base shows large decline, possible rebound
Figure 26: Attendance of theme parks, by year, 2000-08
Age and presence of children determine attendance rates
Figure 27: Attendance of theme parks, by various demographics, July 2007-Sept 2008
Variety offered by Disney World is a powerful draw
Figure 28: Theme parks visited, July 2007-Sept 2008
Six Flags is the leader among 18-24-year-olds
Figure 29: Theme parks visited, by age, July 2007-Sept 2008
CHANGE IN SPENDING
Higher income means less cutbacks but not more spending
Figure 30: Change in spending on theme parks, by HH income, January 2009
Children drive spending despite recession
Figure 31: Change in spending on theme parks, by presence of children, January 2009
ATTITUDES TOWARDS THEME PARKS AND TICKETING
Visitors want new rides, grown-up attractions, and shorter lines
Figure 32: Attitudes towards theme parks, January 2009
Internet an important channel for ticket distribution
Figure 33: Attitudes towards theme park ticketing, January 2009
Under-35s like new rides and more grown-up entertainment
Figure 34: Attitudes towards theme parks, by age, January 2009
Parks can cater to higher-earners with grown-up entertainment and line-bypass
Figure 35: Attitudes towards theme parks, by HH income, January 2009
Respondents with children look to save money but may pay for convenience
Figure 36: Attitudes towards theme parks, by presence of children, January 2009
PURCHASE OF DISCOUNTED ADMISSIONS
Respondents with children most likely to seek out discounted admissions
Figure 37: Purchase of discounted tickets, by various demographic factors, January 2009
Internet is the most popular source of discount tickets
Figure 38: Source of discounted tickets and coupons, by presence of children, January 2009
THE DRAW OF THRILLS AND ATTRACTIONS
Physical thrill rides are the top draw
Figure 39: Interest in thrills & attractions, by gender, January 2009
Live entertainment most likely to draw over-55s
Figure 40: Interest in thrills & attractions, by age, January 2009
Respondents with children are more active
Figure 41: Interest in thrills and attractions, by presence of children, January 2009
DURATION OF TRIP INVOLVING THEME PARKS
Back-to-school families and empty nesters most likely to take overnight trips
Figure 42: Duration of trip involving theme parks, by age, January 2009
Higher-income respondents more able to spend on vacations
Figure 43: Duration of trip involving theme parks, by HH income, January 2009
Respondents with children less likely to visit on day trips
Figure 44: Duration of trip involving theme parks by presence of children, January 2009
ANCILLARY PURCHASES
Merchandise purchased by at least half of respondents who visit
Figure 45: Purchase of food and merchandise at amusement park, by age, January 2009
Sales of most merchandise not strongly determined by income
Figure 46: Purchase of food and merchandise at amusement park, by HH income, January 2009
Family visits more likely to be memorialized
Figure 47: Purchase of food and merchandise at amusement park, by presence of children, January 2009
IMPACT OF RACE/HISPANIC ORIGIN
Asians more likely to visit theme parks
Figure 48: Theme parks visited, by race/Hispanic origin, July 2007-Sept 2008
Hispanics more likely to spend on theme parks
Figure 49: Change in spending on theme parks, by race/Hispanic origin, January 2009
Figure 50: Duration of trip involving theme parks, by race/Hispanic origin, January 2009
Figure 51: Purchase of food and merchandise at amusement park, by race/Hispanic origin, January 2009
TEENAGE VISITS TO THEME PARKS
Teens are largest component of visitor base, older female teens in particular
Figure 52: Theme parks visitation by teens, by age and gender, April 2007-June 2008
CUSTOM CONSUMER GROUPS
Traditional two-parent families are one of the most important sources of growth
Figure 53: Change in spending on theme parks, by marital status and presence of children, January 2009
Figure 54: Duration of trip involving theme parks, by marital status and presence of children, January 2009
Figure 55: Purchase of food and merchandise at amusement park, by marital status and presence of children, January 2009
CLUSTER ANALYSIS
Discounters
Who they are
Opportunity
Day Trippers
Who they are
Opportunity
Passers
Who they are
Opportunity
Cluster characteristics
Figure 56: Theme park clusters, January 2009
Figure 57: Change in spending on theme parks, by theme park clusters, January 2009
Figure 58: Attitudes towards theme parks, by theme park clusters, January 2009
Figure 59: Purchase of discounted tickets, by theme park clusters, January 2009
Figure 60: Thrills & attractions, by theme park clusters, January 2009
Figure 61: Overnight trips, by theme park clusters, January 2009
Figure 62: Purchase of food and merchandise, by theme park clusters, January 2009
Cluster demographics
Figure 63: Theme park clusters, by gender, January 2009
Figure 64: Theme park clusters, by age group, January 2009
Figure 65: Theme park clusters, by household income group, January 2009
Figure 66: Theme park clusters, by Hispanic origin, January 2009
Cluster methodology
OTHER USEFUL CONSUMER TABLES
Figure 67: Theme parks visited, by gender, July 2007-Sept 2008
Figure 68: Theme parks visited, by HH income, July 2007-Sept 2008
Figure 69: Change in spending on theme parks, by age, January 2009
Figure 70: Attitudes towards theme parks, by gender, January 2009
Figure 71: Source of discounted tickets and coupons, by gender, January 2009
Figure 72: Source of discounted tickets and coupons, by age, January 2009
Figure 73: Purchase of food and merchandise at amusement park, by gender, January 2009
APPENDIX: TRADE ASSOCIATIONS

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