ABSTRACT
Theme parks are quintessential, multisensory live experience and a major global business. This chapter looks at their business model, through the lens both of live experience, and IP exploitation. It looks at park foundation, investment, ticketing, merchandising, IP development and other business dimensions. Parks covered include: Walt Disney World Resort, Shanghai Disneyland, Alton Towers, Universal Studios Hollywood, Six Flags, Chimelong Ocean Kingdom, Asterix Park, Tivoli Gardens and Happy Valley Beijing. Key industry players Disney are profiled. Asian parks and European industry players such as Legoland and Alton Towers company Merlin Entertainments are profiled. Park development and production is covered, along with the underlying IP requirement, park design, customer experience, cultural choices and multisensory appeal. There is a case study interview with a theme park designer. Distribution and marketing includes the power of the attraction itself, the utility of digital advertising and social media. Park valuation is discussed. In global perspectives, parks in Japan (Tokyo Disney Resort), Germany’s Europa-Park and other parks are covered. Sustainability and social value are explored through the interaction of parks with local and national politics, and even geopolitics, as well as heritage.
