This week on ‘Green Tagged: Theme Park in 30’ we examine the slow US recovery and what some attractions are doing to diversify revenue.
Stories covered: The Malaysian Tourism Ministry reveals recovery plans for pandemic-hit travel sector; Reuters reports US $500B travel spending dive, slow recovery through 2024; Academy Museum of Motion Pictures exceeds pre-opening fundraising goal by leaning mostly on private investors; The Dublin Zoo also leaned on private investors to raise operating capital; California’s theme parks may not open until summer 2021; Kennywood offers annual pass pandemic protection; Wine Bathing in Japan; Blooloop reports How Monterey Bay Aquarium is engaging AND generating revenue with Animal Crossing on Twitch; Imperial War Museum opens online center; Falcon’s Game Suite is the Karaoke Lounge of Gaming; and the International Association of Mixed Reality Sports is here.
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The Us Faces a Slow Recovery
Rueters released some staggering research suggesting that American travel spending is projected to drop by more than $500 billion in 2020 and languish below pre-pandemic levels until 2024. Meanwhile, Malesia joins the growing number of Asian countries implementing tourism recovery models. Turning to vouchers, discounts, and rebates is the trend, and we’re still worried that will damage long term cost recovery. We discussed Hong Kong’s plans on a previous show.
Should Attractions Engage in Crowdsourcing?
With the US recovery a long time away, attractions must diversify revenue streams. While some are turning to Twitch (below), others are crowdsourcing. This week, both the Academy Museum of Motion Pictures and the Dublin Zoo achieved their fundraising goals through primarily private fans.
Revenue Pivots
Despite speculation that new spikes will force both Knott’s and Disneyland to remain closed into summer 2021, both parks are offering walkthrough dining/shopping experiences. Kennywood is offering pandemic protection to renewing passholders, a move we should all be following. A theme park in Japan is offering wine baths; we’re not sure why, but we love it! The Monterey Bay Aquarium is using their talent and assets to make revenue on Twitch.
Gaming Trends
Following the gaming trend, Falcon’s Creative Groups unveiled a new GameSuite™ Play system. And now, there’s an official International Association of Mixed Reality Sports.
Future Proofing
The Imperial War Museum debuted the IWM Institute, a hub for all their digital content. The Museum will add more content, such as original podcasts to this collection. Werribee Zoo is investing $84 million in renovations. They’re doubling down on a new elephant sanctuary and a gondola sky safari.
