November 16, 2025 • 31 mins
Six Flags will attempt to leverage Travis Kelce’s 9% investment into a full branding partnership, leaning into ‘the new world.’ Meanwhile, Disney’s stock dipped 7% after its latest earnings show cable is collapsing faster than expected. Streaming and the parks remain its lifeboat, with both those sectors performing well, underscoring that the company’s future lies in IP that monetizes across screens and physical spaces. Finally, Herschend struck a deal to acquire Silverwood Theme Park. Philip and Scott unpack what these moves say about where the industry is heading—fewer ads, smaller screens, bigger personalities, and more mission-driven ownership. Listen to weekly BONUS episodes on our Patreon.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
From our studios this week in Orlando and Tampa. This
is green Tag Theme Park and thirty. I'm Philip and
I'm joined as always by my co host Scott Swinson
of Scott Swinson Creativelopment. On green Tag, we look at
the week's top news and explain why it matters to
theme park professionals. And this week we're going to do
a little bit of an update on the six Flag
saga because at this point of course we have to.
(00:22):
We're going to go into Disney Earnings and we're going
to talk about the latest sale and acquisition in the
theme park world.
Speaker 2 (00:29):
So but before we do.
Speaker 3 (00:31):
That, we're going to turn to all of you because
our last episode got tons and tons of comments and
we really appreciate that. I'm hoping that as you comment,
you go ahead and subscribe so that you can continue
to comment. Because Philip and I were just talking before
we started recording that this is the reason we started
green Tech was to start conversations within the realm of
the industry professional and it's happening and we're so excited
(00:54):
about it because, you know, people whether they agree with
what we said or didn't agree with what we said,
or they have their own perspective, or they're they're they're
in agreement, but they're saying taking this into consideration. All
of these kinds of comments are so incredibly valuable, and
the fact that they're starting conversations within the comment streams themselves,
that's what's most exciting to me, because it's not coming
(01:15):
back necessarily to something that we have to respond to.
It's letting professionals talk with professionals. It's basically creating a network,
an online networking environment that is prompted by what we
do in our weekly shows. So we wanted to kind of,
first of all, thank you for for those kinds of comments,
and thank you for becoming subscribers and encouraging you if
you have not become a subscriber, to become a subscriber.
(01:37):
But we also wanted to focus on some trends quote
unquote within our our within the comments from last week,
and Philip of course tracks these like a professional, like
the professional that he is. So what are what are
people saying?
Speaker 1 (01:51):
Philip?
Speaker 2 (01:52):
Yeah, so I do read every comment.
Speaker 1 (01:53):
I may not reply to any of them yet, after IAPA,
I will, I will get there. But uh, I think
there was a lot of discussion about all the different
topics last year, about six Flags, about United Parks, about
the Bush Gardens Parks, and on the six Flags front.
It seems like most everybody in the comments are not
happy with the current operations. However, a lot of people
(02:14):
did point out that people who knew how mergers works,
all that's coming a mile away, and that was from
Projects tom one Night ninety nine, which I think is
a good point, right. I think when Scott and I
were talking last week, we didn't really put this in
the context of mergers. Like, you know, mergers don't always succeed,
or even if they do, it's not without some friction,
(02:38):
you know, as all these things happen. So I feel
like maybe we portrayed it as if it was like,
you know, not not you know, mergers are I guess
mergers are relatively common, but they don't always work out,
and they always is that that friction of figuring out
the new direction of the company and the assets and
all this, and yeah, they do always sell off items
(03:00):
because of the cash the cash impact of merging, right,
so they always have to sell assets. And a lot
of people pointed out how they wouldn't be surprised if
Six Flags did sell some of the Crown Jewels just
for cash and all this and that, and of course
we can't comment on that because that's like that's a prediction.
But you know, some basically this is all part of mergers.
(03:24):
Like sometimes the mergers they merge together and they sell
off some higher assets in order to reinvest, and sometimes
they sell off the lower assets, and it's all. But yeah,
I would say that comment, and then we also, I.
Speaker 3 (03:36):
Think it's important to recognize too that you know, we
say that mergers don't work. Generally speaking, mergers don't work.
I don't necessarily agree with that. I think when mergers happen,
we have to stop comparing the new company to either
of the old companies, because when a merger happens, the
both of the old companies in effect die. They're done,
they're gone their history. So anybody who is trying to
(03:57):
compare what six Flags was pre merger and what six
Flags is becoming post merger, it's not fair. That's the
six Flags the way it used to be is done.
It's gone. That's why it merged. So it has formed
an entity that is completely different, completely unique to either
(04:20):
the Cedar Fair Company or the Six Flags company. So
now what they're doing is that all of a sudden,
the powers that be and the boards et cetera, et cetera,
et cetera, are looking at well, now we've got all
these different assets. It doesn't make sense for us. Of course,
you're going to sell stuff off. It doesn't make sense
for us to own competing parks in the same market.
That doesn't make sense at all. And as Philip mentioned,
(04:43):
when you have this kind of merger, all of a sudden,
you've got tons and tons of things. It's sort of
like it's sort of like when you begin to cohabitate
with your spouse and all of a sudden, we don't
need two gravy boats. Let's sell one of them. You know,
it's one of those. We all do it, and it
(05:03):
makes total sense. So I think it's unfair to necessarily
say all mergers fail or most mergers fail. I think
it's probably more accurate to say most mergers become a
company that's unlike either of the two that created that merger.
Does that make sense? Yeah?
Speaker 2 (05:17):
I think that's also a point.
Speaker 1 (05:18):
We didn't do too much last time, which is really
thinking about it's not you know, they had to keep
the six Flags name just because of the brand value
that is attached to it. But it almost would have
been more helpful if we think of it as like
an entirely different company, because I think Scott's point is
that it is an entirely new company and what they're
(05:41):
trying to do is rethink their whole value proposition. So
it's not about like six Flags becoming more like the
old Bush Gardens or become sorry, it's not about six
Flags becoming more like the Cedar Parks or vice versa.
It's about how is this new entity going to survive
in a competitive market and are they gonna stay in
(06:04):
markets where they have large a lot of competitors or
are they gonna go for areas or they not? Or
are they going to take a more regional approach, or
are they gonna do Halloween or are they not? Or
seasonal or blah, but like seasons of what are they
gonna do? Who are they? It's a whole new company.
I think it's a better way of thinking.
Speaker 3 (06:19):
About exactly, and they still have to figure out and
let's I mean, let's be completely honest, and they have it.
Speaker 1 (06:24):
They haven't because they've been using old terms from old
of their you know, their old six flags terms, and
and I think that's that's I think to this comment.
It's about the expectation mismatch that is the problem here.
Speaker 3 (06:37):
Correct, correct, But I think I think there's a logic
to using the old six flags terms simply because they
don't want to diss the few six flags uh patrons
that they have. They also have to keep. They also
have to keep stockholders happy. They also have to keep
stockholders engaged, so they can't all of a sudden It's
it's like turning an aircraft carrier. It's not like turning
a speedbook, you know, And you got to you gotta
(06:59):
look at it from that perspective. And let's be completely
transparent and completely honest. If the two companies were on
these skyrocketing trajectories to financial to overwhelming financial success, they
wouldn't have merged.
Speaker 1 (07:14):
Ye.
Speaker 3 (07:15):
The merger took place because the the independent companies thought
that there would be an advantage for those involved, and
perhaps those involved at the very highest levels. That's usually
where those mergers, that's usually who those mergers benefit the most.
And you know, I have no idea what their what
their long range game is is it to to to
(07:39):
sell off everything that's worth everything and then just shut
down the rest of the company. It doesn't appear that way.
That hasn't been That's not what they're that's not what
their actions have shown thus far. Is it to sell off,
you know, the lower performing parks or the parks that
are in competition with other parks that they now own. Yeah,
may be part of it, But I think I think
(08:02):
we have to recognize just the simplest summation of this
is we have to recognize that six Flags now is
neither Six Flags before merger or Cedar Fair. It is
a completely new company. It has some of the same
parts that both of them had, but it also and
some of the same problems, and it has some new
(08:22):
advantages and some new problems. So you got to take
into consideration that when these things merge, they become a
separate entity that is not the sum of two parts.
You know, it may be there's a lot that's going
to be similar as far as the parks go. Now,
do the guests attending the park parks understand this? Probably not,
(08:46):
but those of us in the industry should.
Speaker 1 (08:48):
Yeah, that's true, that's true. One the other comment we
just want to call out. Was there some talk about
United Parks and about people's experiences there and also about
Bush Gardens, and the one that I thought was insight.
We was mentioning how bush Gardens Tampa is really leaned
into school kid group sales and that this is the
budget crowds that Universal and Disney don't want. And a
(09:11):
great insight here, which is can you build a brand
on leftovers? And I thought that was a that's the
interesting take on that, which we didn't think about it at all,
but just you know that again, we talked about this
for Halloween, but we didn't necessarily talk about it written
large about how there are these you know, again back
to what six Flags had originally said, and of course
there's not six Flags in this market, so in this
(09:32):
market you kind of.
Speaker 2 (09:33):
You do have more room for that.
Speaker 1 (09:35):
But remember way back when the parks have talked about
how they're trying to get out of that budget crowd,
because the budget crowd was the one that was causing
problems at Halloween. And this is what this comment reminded
me of, is like, oh, well, you're like, I don't
know how true that is because I haven't been to
that park in a long time, But it is interesting
for them to point out that that is a market
(09:55):
and whether or not, I mean, and it's I think
it's fair to argue that Disney you can't because it's
too expensive. And I think it's also fair that Universal
probably doesn't hit that because it is edging up there
also in price. So I would I could see how
Bush Gardens Tampa would would be the group sale park.
Speaker 3 (10:11):
Well, six Flags was the sales park. I mean, six
Flags was the budget alternative for many many years.
Speaker 2 (10:19):
Saying yeah, so in that area and there's.
Speaker 3 (10:21):
Not well and to be I'm probably telling you it's
old news. Now. Six Flags has been trying to buy
a park or build a park in this area for many, many,
many years. And if United Parks did decide to start
selling off stuff, there was there was interest in the
(10:43):
past from six Flags for Bush Gardens Tampa. There have
been interest from six Flags in in SeaWorld Orlando, but
neither of them have ever nine of them have ever
developed into anything. But I think you know, to that point,
is it possible to build a brand off of leftover?
Is probably not, because that's not the sexiest brand. But
(11:05):
is there a business model that focuses on here's something
for the people who can't afford Disney and the people
who can afford Universal. Yeah, there's a business model there. Now.
Is that the business model that Bush Gardens or United
Parks wants to follow. That I can't answer because I'm
not part of the company anymore. But there is a
(11:26):
market there for delivering lower cost, moderate quality experiences. And
of course we all know it. You know, we're not
telling tales out of school when we all say that.
If you look at the board of United Parks, there
are some internal challenges and struggles there as well. So
(11:48):
you know, that's not new news to anybody, whether you're
in the in the know or not, and so they
need to make certain that they get that figured out.
I of course am hoping and praying that the parks
continue to do well, simply because there's so much a
part of my early career. But I totally understand your
(12:09):
comment and there too, as far as my opinion goes,
there is Yes, there is definitely a business model that
that can build itself off of leftovers. And if six
Flags is trying not to be that now or the
new the new six Flags, the new company is trying
not to be that now, then maybe United Parks can
can fill that void. Unfortunately, the hard the hard goods
(12:32):
of all of these parks kind of precludes that from
happening because there's a lot of high end operational costs
for especially for the Sea World parks. But Bush Gardens
well because of its its animal component. Yeah, so.
Speaker 1 (12:51):
Well yeah, yeah, see, well, Okay, we did actually have
some six Flags Saga news this week. We gotta we
gotta gotta get move in on here. So oh yes,
enough enough, but anyway, thank you guys for your comments.
Speaker 2 (13:01):
Keep in coming. Yes, thank you for your comments.
Speaker 1 (13:03):
So this week's in this week's edition of What's going
on with six Flags, Travis Kelcey six Flags they're developing
a branding relationship following the Kelsey investing. So last week
we talked about how Travis kelce and has partnered with
a investment group, so he basically just became the face
of this like investment group and they bought a nine
(13:24):
percent share, and then he was talking about how they
were gonna, you know, interested in helping six Flags and
because he grew up with them and blah blah blah.
Speaker 3 (13:30):
And we talked a.
Speaker 1 (13:32):
Little bit about how you know, nine percent isn't really much,
and this is kind of a little bit like an
activist play, but it seems like six Flags is trying
to capitalize it because they were asked about this on
their earnings call and it kind of they So basically,
this is what six Flags ast. Six Flags is engaged
with Kelsey's team to work together on a broader branding relationship,
(13:55):
capitalizing on Kelsey's long history with our parks and his
desire to help renew and enhance the fund and excite
me and he has enjoyed with us for future generations.
These discussions come at an ideal time as we continue
to invest across our business to modernize our brands, reinforce
their long standing cultural relevance, and build stronger connections with guests.
And then they went on to kind of say some
(14:16):
interesting stuff about Travis Kelcey. Influencers of that ILK have
tremendous followings, and I think part of where all of
society is going is figuring out what does the new
world look like? Anyway, and then they go back to, oh,
we have we've had dialogues and concepts of a plan basically,
(14:39):
and then what is it okay We're going to work
very closely with him and his team to make sure
that we optimize the opportunity. As you said, the interest
is not only the stock pressuring up, but it speaks
to how we live in a different world.
Speaker 2 (14:55):
Now, I've got trust in our team and in his team.
We know how to work this.
Speaker 1 (14:58):
So I was a lot of yammering by them, but
basically I feel like they were six Flags was like, well,
he's kind of an influencer and we do want to
work with him, But it almost seemed like they were
a little bit like, maybe we can use his celebrity
to help invigorate the parks by doing some sort of
like branding deal that we don't have to pay for
now because he has a vested interest right where like
(15:21):
you know, instead of having to pay him probably more
than nine percent of what the company is worth, then
he is just gonna like help them out or they'll
work with him, or I don't know.
Speaker 2 (15:32):
It was really weird.
Speaker 1 (15:32):
And then they went on social media and they posted
like a picture of a roller coaster with like Travis
Kelcey like paste it onto it, like clearly photoshop like him,
like in a six Flags coaster.
Speaker 3 (15:44):
Yeah, I you know, I I think that you're absolutely right.
I think that his name affiliated with six Flags is
worth far more than the nine percent.
Speaker 2 (15:57):
Yeah, a hundred percent.
Speaker 3 (15:59):
I think that to I think I don't know whether
these these new uh, these new plans will progress in
a swift manner or not, but I'm sure they'll be
tailored to their new business model just saying we'll just saying, well,
(16:22):
but we're talking. I mean, so let's let's not. You
can't ignore it. You can't ignore it. Taylor Swift concerts
actually have a plate tectonic effect on the cities that
they go up in. So if you have control, if
one one branded human being has the control of that
many fans, yeah, you want to be affiliated or associated
(16:45):
with them in any way you possibly can. And they
can't afford to buy her, to to lease her, and
and I don't don't misunderstanding. I'm not saying that Kelsey
has is like a shlub on the side there. He's
got some pretty pretty hefty following as well. But the
two of them together, could you just imagine, if you know,
(17:06):
all of a sudden, they did a they did a
song and dance show in all of the parks that
had exclusive tailor Swift video.
Speaker 2 (17:18):
Yeah.
Speaker 3 (17:18):
Could you just imagine what that would do for their attendance?
Speaker 1 (17:21):
Yeah, yeah, yeah, See, I think there is a lot
of potential there. So I think they are right about it.
Let's just make sure, let's I just thought it was
interesting how that's his line about like, you know, influences
in the ILK and.
Speaker 2 (17:33):
The New World Order or whatever nonsense.
Speaker 1 (17:35):
I was like, okay, that's I think it's okay just
say like we want to work with him, but then
also just be honest about it, like yes, like, yeah,
they have a large audience, and we think that we
could potentially tap into that audience in some mutually beneficial
way that will help our attendants.
Speaker 2 (17:54):
That's it. Why you got to be so weird about
it when you.
Speaker 3 (17:57):
Get well, because again, they don't want to say we're
going to write on his we'ren run on the coatails
of his success, and they can't. They don't want to
lead with that because that's going to have some negative backlash.
Well that's a very negative backlash. But you know, I
just thought it was funny as you even as you
were reading it, I kept thinking, wow, how how twenty
ten of you you know, yes, yes, yeah, yeah, yeah,
(18:21):
fair fairness. Though parks are finally finally starting to catch
on to the power of influencers, finally, there are some
parks that still their marketing plans are all about how
much ad time are we purchasing, how many billboards, how
many commercials. They they don't get it. It's they don't
understand their market in many cases.
Speaker 1 (18:43):
So yeah, it's badly especially if you are if they
are like you, like we just talked about, if that's
a need to move on.
Speaker 2 (18:49):
I just last it's like, especially if they.
Speaker 1 (18:51):
Are like targeting like that budget or any any one
younger in that age range. You're like, this is literally
the market that you're that you know, you're targeting with
your parks, and like, yeah, so anyway, yeah.
Speaker 2 (19:06):
I think that that's a unique thing.
Speaker 1 (19:07):
For us to Yeah, yeah, I just think I thought
that's something that's unique for us in the amusement space
because a lot of the markets that we target are younger,
and I think that is always a challenge for us
in amusement industry. Written large is like you know that
those again very trendy you know, K pop demon hunters,
(19:28):
which we won't get to talk about today. But that's
a good example of making sure you're on the transport. Okay, okay, sorry, okay.
The next story is about the Disney earnings. There's not
too too much to talk about here, but basically, they
reported their fiscal fourth quarter earnings on Thursday. It did
top end list expectations for earnings, but it missed on revenue,
(19:49):
and that's mainly because of the cord cutting. Basically, the
TV networks had a lackluster theatrical film and lackluster theatrical films,
So overall, I think it was pretty good. It's just
those two are starting to weigh down the company more
and the stock closed down more than seven percent after
the earnings, which was not good. Operating income for its
(20:11):
TV networks dropped twenty one percent. On the flip side
the thirty nine percent, the streaming had a rise of
thirty nine percent. So again, they've been talking about this forever,
but it just it it seems like it's starting to accelerate.
Speaker 2 (20:29):
If anything, and I think this is a point that
I had wanted to make.
Speaker 1 (20:35):
It is just thinking about how really we're chasing a
smaller screen now. So if if your business that all
relies on making stuff for larger screens, it's probably not good.
It's smaller screens is where it seems like the audience
and the money is at. And I think this has
caught both Comcast and Disney off guard because previously, before Epic,
(20:56):
we were talking about how it was catching Comcasts off
guards how quickly that the cord cutting was eroding, Like
it's like it's like they thought it was going to
be here, but it's it's starting to go like this right,
and it's starting to just go accelerate. And I think
that also caught in this quarter, caught Disney off guard
where they didn't have a fancy new theme park to open,
and so it caught that a little bit off guard
(21:18):
having an accelerated amount of cord cutting. And both of them,
you know, have made bets in streaming, and Disney Plus
has been paying off, but it's always the question of
like is it going to pay off fast enough? And
if it's not going to pay off fast enough, then
what are you going to do to replace that that revenue?
But on the on the good side, it is that
Disney Plus reported nearly two hundred million subscribers, which is great.
(21:40):
And remember the the ESPN app that they have been
working on. They talked a lot about that and think
that let's see. Executives touted the recent launch of ESPN's
direct to consumer app, which brings all the content from
linear TV networks to streaming for the first time. They
said this didn't cause more cable bundle losses and instead
it led to more overall users and engagement. Bob Eiger
(22:02):
called the ESPN app a positive step for the future
of ESPN, notoriously known for one of the few channels
holding the kill A bundle together. So ESPN's results are
reportedly separate from the entertainment TV network.
Speaker 2 (22:12):
So that's all.
Speaker 1 (22:17):
Again back to their they're trying to rapidly shift, so
I think now they've decided the TV bundles are running
too quickly, so they're pushing the ESPN app, which is
I mean, just like with comcasts, it's a matter of
like can you switch your business model fasten up, befoward
to rhoads. The last thing I wanted to share was
there was a really insightful post. Of course, I always
(22:39):
read like the earnings and listen to the earnings. With that,
I always like to read what all the other analysts
are saying, especially ones that are not in our industry
to see what other people think of our industry, and it's.
Speaker 2 (22:53):
It was interesting. I found one Chris Columbo that had a.
Speaker 1 (22:57):
Great little, tiny little chart here, which is hilarious, he said.
He said, basically, the new model is that ip that
lives across screens and spaces and monetizes at every step,
and it starts in the low mid budget movie now
like a smaller budget movie, then goes into makes a
huge streaming wave, then goes into retail, then goes into
character momentum showing up in parks. And we've been talked
(23:19):
about this forever because that's the classic, you know, Disney Flywheel.
But I think what is changing here is thinking about
the input still needs to be a good story, but
not necessarily a big budget and that's because you're you're
making it for a smaller screen. You're not making it
necessarily for movies anymore, or for broadcasting. You're making it
for like people watching on their smartphones, because a lot
(23:40):
of people just watch on their smartphones. And I think
that was an insight that I was like, oh, interesting,
and we won't get to talk about Netflix House, but
it plays exactly a Netflix house.
Speaker 3 (23:51):
Yeah, it's well, it's interesting because I just had I
just had a meeting with a local film and video
production company that I've worked with before, and they're they're
branching out. They do a lot of you know, they
do a lot of corporate stuff and the but they're
branching out into They've just sold their first their first
major motion picture, and they're and they're they're very excited
(24:12):
about future projects. And and this is this is the
same company that that I've worked with before, either I've
hired them to produce stuff for for live experiences or
they've used me as an actor from time to time.
But I told them, I said in our meeting, I said,
look here, you got to think about it this way.
Stop thinking about your company to make movies. Think about
your company to build IP, because it's not it's not
(24:36):
about the movies. It's not about the movies. It's you know,
people don't go to movies, and even even people who
have never seen K Pop Demon Hunter recognize it when
they see it in the stores in the they recognize
it if they even if they haven't watched it, they
know it. So it's all about building the IP and
(24:57):
it used to be. You know, back in the day,
it was let's create this really impactful film and then
we'll add, well, we'll outsource these characters, bring them into
the real world.
Speaker 1 (25:06):
You know.
Speaker 3 (25:07):
That's how both Disney and Universal Studios started, was so
that you could live the movies. You could actually participate
in the characters that you saw on the two dimensional screen.
But the world is moving too fast for that, so
you've got to now make it so that they all
give birth at the same time, so you're building ips,
not making movies.
Speaker 1 (25:25):
Yep, yep, Okay, all right, we have to get to
this last story really quick.
Speaker 2 (25:36):
Hershan, Yes, Hershan.
Speaker 1 (25:39):
I just realized I did not talk at all about
the parks, but I don't think we necessarily need to.
The only thing that Disney mentioned about their parks in
the Earnings is that Disney Experiences, so the theme park
sector of Disney, which is so funny. Because it's so funny,
I sometimes I forget about the theme park section, even
though that's our business of the Disney Earnings. And also,
(26:03):
I still think that Netflix should buy Disney, because let
us not forget how much larger Netflix is when compared
to Disney and they could buy it with just their
free cash flow, so anyway, they probably just should buy
Disney and be done with it. So anyway, so the
theme parks did really well. They saw an increase of
thirteen percent compared to Q four of last year. Domestically
(26:23):
they grew nine percent, and basically they're saying it's because
of Epic univers On the earnings call, they said, we've
talked about Epic Universe in the past, in particular as
something that we knew was going to be a factor
in domestic parks, and in fact, it was very much
in line with our expectations. If anything, it seems to
be impacting the rest of the competition down in Florida
more that's impacting us from a consumer perspective. We certainly
(26:44):
feel good about it. So they went on to say,
we are pleased with these results and encouraged by the
continued resiliency of our domestic parks. So and let's see,
it said most of the uptick comes from spending inside
of the theme parks as well as they also have the
Disney Treasure launch. But basically, uh, it's that that wave
(27:07):
we talked about.
Speaker 3 (27:08):
Yeah, and we've you know, that's just reinforcing what we
said when Epic was, you know, just about ready to open.
It's my guess is that all the parks in Florida
are seeing an uptick of some sort. They may not
be seeing the one they anticipated, but Disney it makes
the most sense because of course they are the most
the most relevant. My guess is people are going and
(27:29):
staying at Disney and visiting Epic on a on a
on a day, Epic becomes a day trip.
Speaker 1 (27:35):
But I don't know, well, United Parks and Resorts reported
a six percent, six percent decrease in revenue in three
percent dukies in attendance, So I think it's more like
that's that's exactly what Disney actually was, more like, this
is what happened Disney. They were like, what do you
think about United or what do you think about Epic
Universe Disney, and Disney was like, we think it's great
(27:58):
because we're doing great and it's helped us, but it's
not helping everybody. And then they're like smugly smiling, and
then they're like pointing to the other parks.
Speaker 3 (28:06):
That's what's happenings. And that's kind of unnerving for United
Parks because that means they're from a guest standpoint, they're
no longer placed in the same category as Universal and Disney,
which is what especially the Orlando parks have been trying
to do for years. So yeah, that's that's a little
unnerving for them.
Speaker 1 (28:24):
Okay, sorry, Silverwood, Oh my god, Okay, we had to
get Okay, we got it. So Hershend is acquiring Silverwood.
Many thought that we should have started with that news,
but here we are. So the thing park owner and
operator Hersein signed an exclusive term sheet to acquire Silverword
Theme Park in Idaho from the Norton family, who have
operated the park since it's founding.
Speaker 2 (28:44):
In nineteen eighty eight.
Speaker 1 (28:47):
This is more than a business transaction, it's a continuation
of a legacy, says the Hershon CEO.
Speaker 2 (28:52):
Andrew Wexler. We are honored that the Norton family has
trusted us to carry their vision forward and excited to
welcome Silverwood hosts and guests to Hershend. I could not
think of a better I mean, this, this is gonna
go well.
Speaker 3 (29:06):
After we've just said mergers, mergers and acquisitions never go well,
except this one.
Speaker 2 (29:11):
Well, this isn't a merger. This is a pure acquisition.
This is and I think in.
Speaker 1 (29:15):
This case, you know, we know that Hershin does well,
I mean everybody. That's the other thing everyone in our
comments agrees with is that Hershind is like the best quality.
You know, It's like up there in terms of the
best quality of all these parks that a lot of
people were saying they were Hershind would have bought the
Cedar parks, you know, but they're small, it's a small
it's small chain. But I think they will handle this
(29:37):
well as they have handled the previous acquisitions.
Speaker 3 (29:39):
Well. Yeah, And I think it's also good that it's
hershened because again, family park, and I think part of
the reason that they could get that agreement was because
the Family Park talked to Hershint, which is very family oriented,
very family based to begin with. And I'm guessing that
the Norton family felt that they could they could sell
this park to an organization that will can tinue to
(30:00):
run it the way they want it run, with the
same level of experience, guest experience. And so it's yeah,
I think this is a great I think this is
a great move. I think it's good for Hershen. I
think it's going to be great for Silverwood quite honestly,
so we will we will see fingers crossed. All right, Well,
that's all the time we have. Philip and I are
going to immediately finish this show and dive into our
(30:23):
our Patreon show. We're going to dive into Unhinged, and
my guess is, well, probably because we're both just crazy,
pulling our hair out trying to figure out what we
can do for Iappa. My guess is we're going to
chat a little bit about a pre i appa what
the hell do we need to get done in that.
So if you'd like to subscribe and hear our craziness
before we dive in, and if you are attending IAPPA Expo,
(30:45):
please stop buy on Tuesday at noon, stop by the
hunting Grounds and chat with Philip and I because we
will both be there presenting Marketing the Monsters, which is
a whole session, whole talk about how to differentiate your
marketing plans from your day product to your haunt and
why those are very different and how important they can be.
So we're very excited to talk about that. It's one
of the few times, actually it's the first time Philip
(31:06):
and I have ever actually spoken together at IAPPA and
we're really looking forward to that, so please stop by
and say hello, but we are out of time, so
on behalf of Philip and myself. This is Green Tag
Theme Park in thirty and we will see you next
week
From our studios this week in Orlando and Tampa. This
is green Tag Theme Park and thirty. I'm Philip and
I'm joined as always by my co host Scott Swinson
of Scott Swinson Creativelopment. On green Tag, we look at
the week's top news and explain why it matters to
theme park professionals. And this week we're going to do
a little bit of an update on the six Flag
saga because at this point of course we have to.
(00:22):
We're going to go into Disney Earnings and we're going
to talk about the latest sale and acquisition in the
theme park world.
Speaker 2 (00:29):
So but before we do.
Speaker 3 (00:31):
That, we're going to turn to all of you because
our last episode got tons and tons of comments and
we really appreciate that. I'm hoping that as you comment,
you go ahead and subscribe so that you can continue
to comment. Because Philip and I were just talking before
we started recording that this is the reason we started
green Tech was to start conversations within the realm of
the industry professional and it's happening and we're so excited
(00:54):
about it because, you know, people whether they agree with
what we said or didn't agree with what we said,
or they have their own perspective, or they're they're they're
in agreement, but they're saying taking this into consideration. All
of these kinds of comments are so incredibly valuable, and
the fact that they're starting conversations within the comment streams themselves,
that's what's most exciting to me, because it's not coming
(01:15):
back necessarily to something that we have to respond to.
It's letting professionals talk with professionals. It's basically creating a network,
an online networking environment that is prompted by what we
do in our weekly shows. So we wanted to kind of,
first of all, thank you for for those kinds of comments,
and thank you for becoming subscribers and encouraging you if
you have not become a subscriber, to become a subscriber.
(01:37):
But we also wanted to focus on some trends quote
unquote within our our within the comments from last week,
and Philip of course tracks these like a professional, like
the professional that he is. So what are what are
people saying?
Speaker 1 (01:51):
Philip?
Speaker 2 (01:52):
Yeah, so I do read every comment.
Speaker 1 (01:53):
I may not reply to any of them yet, after IAPA,
I will, I will get there. But uh, I think
there was a lot of discussion about all the different
topics last year, about six Flags, about United Parks, about
the Bush Gardens Parks, and on the six Flags front.
It seems like most everybody in the comments are not
happy with the current operations. However, a lot of people
(02:14):
did point out that people who knew how mergers works,
all that's coming a mile away, and that was from
Projects tom one Night ninety nine, which I think is
a good point, right. I think when Scott and I
were talking last week, we didn't really put this in
the context of mergers. Like, you know, mergers don't always succeed,
or even if they do, it's not without some friction,
(02:38):
you know, as all these things happen. So I feel
like maybe we portrayed it as if it was like,
you know, not not you know, mergers are I guess
mergers are relatively common, but they don't always work out,
and they always is that that friction of figuring out
the new direction of the company and the assets and
all this, and yeah, they do always sell off items
(03:00):
because of the cash the cash impact of merging, right,
so they always have to sell assets. And a lot
of people pointed out how they wouldn't be surprised if
Six Flags did sell some of the Crown Jewels just
for cash and all this and that, and of course
we can't comment on that because that's like that's a prediction.
But you know, some basically this is all part of mergers.
(03:24):
Like sometimes the mergers they merge together and they sell
off some higher assets in order to reinvest, and sometimes
they sell off the lower assets, and it's all. But yeah,
I would say that comment, and then we also, I.
Speaker 3 (03:36):
Think it's important to recognize too that you know, we
say that mergers don't work. Generally speaking, mergers don't work.
I don't necessarily agree with that. I think when mergers happen,
we have to stop comparing the new company to either
of the old companies, because when a merger happens, the
both of the old companies in effect die. They're done,
they're gone their history. So anybody who is trying to
(03:57):
compare what six Flags was pre merger and what six
Flags is becoming post merger, it's not fair. That's the
six Flags the way it used to be is done.
It's gone. That's why it merged. So it has formed
an entity that is completely different, completely unique to either
(04:20):
the Cedar Fair Company or the Six Flags company. So
now what they're doing is that all of a sudden,
the powers that be and the boards et cetera, et cetera,
et cetera, are looking at well, now we've got all
these different assets. It doesn't make sense for us. Of course,
you're going to sell stuff off. It doesn't make sense
for us to own competing parks in the same market.
That doesn't make sense at all. And as Philip mentioned,
(04:43):
when you have this kind of merger, all of a sudden,
you've got tons and tons of things. It's sort of
like it's sort of like when you begin to cohabitate
with your spouse and all of a sudden, we don't
need two gravy boats. Let's sell one of them. You know,
it's one of those. We all do it, and it
(05:03):
makes total sense. So I think it's unfair to necessarily
say all mergers fail or most mergers fail. I think
it's probably more accurate to say most mergers become a
company that's unlike either of the two that created that merger.
Does that make sense? Yeah?
Speaker 2 (05:17):
I think that's also a point.
Speaker 1 (05:18):
We didn't do too much last time, which is really
thinking about it's not you know, they had to keep
the six Flags name just because of the brand value
that is attached to it. But it almost would have
been more helpful if we think of it as like
an entirely different company, because I think Scott's point is
that it is an entirely new company and what they're
(05:41):
trying to do is rethink their whole value proposition. So
it's not about like six Flags becoming more like the
old Bush Gardens or become sorry, it's not about six
Flags becoming more like the Cedar Parks or vice versa.
It's about how is this new entity going to survive
in a competitive market and are they gonna stay in
(06:04):
markets where they have large a lot of competitors or
are they gonna go for areas or they not? Or
are they going to take a more regional approach, or
are they gonna do Halloween or are they not? Or
seasonal or blah, but like seasons of what are they
gonna do? Who are they? It's a whole new company.
I think it's a better way of thinking.
Speaker 3 (06:19):
About exactly, and they still have to figure out and
let's I mean, let's be completely honest, and they have it.
Speaker 1 (06:24):
They haven't because they've been using old terms from old
of their you know, their old six flags terms, and
and I think that's that's I think to this comment.
It's about the expectation mismatch that is the problem here.
Speaker 3 (06:37):
Correct, correct, But I think I think there's a logic
to using the old six flags terms simply because they
don't want to diss the few six flags uh patrons
that they have. They also have to keep. They also
have to keep stockholders happy. They also have to keep
stockholders engaged, so they can't all of a sudden It's
it's like turning an aircraft carrier. It's not like turning
a speedbook, you know, And you got to you gotta
(06:59):
look at it from that perspective. And let's be completely
transparent and completely honest. If the two companies were on
these skyrocketing trajectories to financial to overwhelming financial success, they
wouldn't have merged.
Speaker 1 (07:14):
Ye.
Speaker 3 (07:15):
The merger took place because the the independent companies thought
that there would be an advantage for those involved, and
perhaps those involved at the very highest levels. That's usually
where those mergers, that's usually who those mergers benefit the most.
And you know, I have no idea what their what
their long range game is is it to to to
(07:39):
sell off everything that's worth everything and then just shut
down the rest of the company. It doesn't appear that way.
That hasn't been That's not what they're that's not what
their actions have shown thus far. Is it to sell off,
you know, the lower performing parks or the parks that
are in competition with other parks that they now own. Yeah,
may be part of it, But I think I think
(08:02):
we have to recognize just the simplest summation of this
is we have to recognize that six Flags now is
neither Six Flags before merger or Cedar Fair. It is
a completely new company. It has some of the same
parts that both of them had, but it also and
some of the same problems, and it has some new
(08:22):
advantages and some new problems. So you got to take
into consideration that when these things merge, they become a
separate entity that is not the sum of two parts.
You know, it may be there's a lot that's going
to be similar as far as the parks go. Now,
do the guests attending the park parks understand this? Probably not,
(08:46):
but those of us in the industry should.
Speaker 1 (08:48):
Yeah, that's true, that's true. One the other comment we
just want to call out. Was there some talk about
United Parks and about people's experiences there and also about
Bush Gardens, and the one that I thought was insight.
We was mentioning how bush Gardens Tampa is really leaned
into school kid group sales and that this is the
budget crowds that Universal and Disney don't want. And a
(09:11):
great insight here, which is can you build a brand
on leftovers? And I thought that was a that's the
interesting take on that, which we didn't think about it at all,
but just you know that again, we talked about this
for Halloween, but we didn't necessarily talk about it written
large about how there are these you know, again back
to what six Flags had originally said, and of course
there's not six Flags in this market, so in this
(09:32):
market you kind of.
Speaker 2 (09:33):
You do have more room for that.
Speaker 1 (09:35):
But remember way back when the parks have talked about
how they're trying to get out of that budget crowd,
because the budget crowd was the one that was causing
problems at Halloween. And this is what this comment reminded
me of, is like, oh, well, you're like, I don't
know how true that is because I haven't been to
that park in a long time, But it is interesting
for them to point out that that is a market
(09:55):
and whether or not, I mean, and it's I think
it's fair to argue that Disney you can't because it's
too expensive. And I think it's also fair that Universal
probably doesn't hit that because it is edging up there
also in price. So I would I could see how
Bush Gardens Tampa would would be the group sale park.
Speaker 3 (10:11):
Well, six Flags was the sales park. I mean, six
Flags was the budget alternative for many many years.
Speaker 2 (10:19):
Saying yeah, so in that area and there's.
Speaker 3 (10:21):
Not well and to be I'm probably telling you it's
old news. Now. Six Flags has been trying to buy
a park or build a park in this area for many, many,
many years. And if United Parks did decide to start
selling off stuff, there was there was interest in the
(10:43):
past from six Flags for Bush Gardens Tampa. There have
been interest from six Flags in in SeaWorld Orlando, but
neither of them have ever nine of them have ever
developed into anything. But I think you know, to that point,
is it possible to build a brand off of leftover?
Is probably not, because that's not the sexiest brand. But
(11:05):
is there a business model that focuses on here's something
for the people who can't afford Disney and the people
who can afford Universal. Yeah, there's a business model there. Now.
Is that the business model that Bush Gardens or United
Parks wants to follow. That I can't answer because I'm
not part of the company anymore. But there is a
(11:26):
market there for delivering lower cost, moderate quality experiences. And
of course we all know it. You know, we're not
telling tales out of school when we all say that.
If you look at the board of United Parks, there
are some internal challenges and struggles there as well. So
(11:48):
you know, that's not new news to anybody, whether you're
in the in the know or not, and so they
need to make certain that they get that figured out.
I of course am hoping and praying that the parks
continue to do well, simply because there's so much a
part of my early career. But I totally understand your
(12:09):
comment and there too, as far as my opinion goes,
there is Yes, there is definitely a business model that
that can build itself off of leftovers. And if six
Flags is trying not to be that now or the
new the new six Flags, the new company is trying
not to be that now, then maybe United Parks can
can fill that void. Unfortunately, the hard the hard goods
(12:32):
of all of these parks kind of precludes that from
happening because there's a lot of high end operational costs
for especially for the Sea World parks. But Bush Gardens
well because of its its animal component. Yeah, so.
Speaker 1 (12:51):
Well yeah, yeah, see, well, Okay, we did actually have
some six Flags Saga news this week. We gotta we
gotta gotta get move in on here. So oh yes,
enough enough, but anyway, thank you guys for your comments.
Speaker 2 (13:01):
Keep in coming. Yes, thank you for your comments.
Speaker 1 (13:03):
So this week's in this week's edition of What's going
on with six Flags, Travis Kelcey six Flags they're developing
a branding relationship following the Kelsey investing. So last week
we talked about how Travis kelce and has partnered with
a investment group, so he basically just became the face
of this like investment group and they bought a nine
(13:24):
percent share, and then he was talking about how they
were gonna, you know, interested in helping six Flags and
because he grew up with them and blah blah blah.
Speaker 3 (13:30):
And we talked a.
Speaker 1 (13:32):
Little bit about how you know, nine percent isn't really much,
and this is kind of a little bit like an
activist play, but it seems like six Flags is trying
to capitalize it because they were asked about this on
their earnings call and it kind of they So basically,
this is what six Flags ast. Six Flags is engaged
with Kelsey's team to work together on a broader branding relationship,
(13:55):
capitalizing on Kelsey's long history with our parks and his
desire to help renew and enhance the fund and excite
me and he has enjoyed with us for future generations.
These discussions come at an ideal time as we continue
to invest across our business to modernize our brands, reinforce
their long standing cultural relevance, and build stronger connections with guests.
And then they went on to kind of say some
(14:16):
interesting stuff about Travis Kelcey. Influencers of that ILK have
tremendous followings, and I think part of where all of
society is going is figuring out what does the new
world look like? Anyway, and then they go back to, oh,
we have we've had dialogues and concepts of a plan basically,
(14:39):
and then what is it okay We're going to work
very closely with him and his team to make sure
that we optimize the opportunity. As you said, the interest
is not only the stock pressuring up, but it speaks
to how we live in a different world.
Speaker 2 (14:55):
Now, I've got trust in our team and in his team.
We know how to work this.
Speaker 1 (14:58):
So I was a lot of yammering by them, but
basically I feel like they were six Flags was like, well,
he's kind of an influencer and we do want to
work with him, But it almost seemed like they were
a little bit like, maybe we can use his celebrity
to help invigorate the parks by doing some sort of
like branding deal that we don't have to pay for
now because he has a vested interest right where like
(15:21):
you know, instead of having to pay him probably more
than nine percent of what the company is worth, then
he is just gonna like help them out or they'll
work with him, or I don't know.
Speaker 2 (15:32):
It was really weird.
Speaker 1 (15:32):
And then they went on social media and they posted
like a picture of a roller coaster with like Travis
Kelcey like paste it onto it, like clearly photoshop like him,
like in a six Flags coaster.
Speaker 3 (15:44):
Yeah, I you know, I I think that you're absolutely right.
I think that his name affiliated with six Flags is
worth far more than the nine percent.
Speaker 2 (15:57):
Yeah, a hundred percent.
Speaker 3 (15:59):
I think that to I think I don't know whether
these these new uh, these new plans will progress in
a swift manner or not, but I'm sure they'll be
tailored to their new business model just saying we'll just saying, well,
(16:22):
but we're talking. I mean, so let's let's not. You
can't ignore it. You can't ignore it. Taylor Swift concerts
actually have a plate tectonic effect on the cities that
they go up in. So if you have control, if
one one branded human being has the control of that
many fans, yeah, you want to be affiliated or associated
(16:45):
with them in any way you possibly can. And they
can't afford to buy her, to to lease her, and
and I don't don't misunderstanding. I'm not saying that Kelsey
has is like a shlub on the side there. He's
got some pretty pretty hefty following as well. But the
two of them together, could you just imagine, if you know,
(17:06):
all of a sudden, they did a they did a
song and dance show in all of the parks that
had exclusive tailor Swift video.
Speaker 2 (17:18):
Yeah.
Speaker 3 (17:18):
Could you just imagine what that would do for their attendance?
Speaker 1 (17:21):
Yeah, yeah, yeah, See, I think there is a lot
of potential there. So I think they are right about it.
Let's just make sure, let's I just thought it was
interesting how that's his line about like, you know, influences
in the ILK and.
Speaker 2 (17:33):
The New World Order or whatever nonsense.
Speaker 1 (17:35):
I was like, okay, that's I think it's okay just
say like we want to work with him, but then
also just be honest about it, like yes, like, yeah,
they have a large audience, and we think that we
could potentially tap into that audience in some mutually beneficial
way that will help our attendants.
Speaker 2 (17:54):
That's it. Why you got to be so weird about
it when you.
Speaker 3 (17:57):
Get well, because again, they don't want to say we're
going to write on his we'ren run on the coatails
of his success, and they can't. They don't want to
lead with that because that's going to have some negative backlash.
Well that's a very negative backlash. But you know, I
just thought it was funny as you even as you
were reading it, I kept thinking, wow, how how twenty
ten of you you know, yes, yes, yeah, yeah, yeah,
(18:21):
fair fairness. Though parks are finally finally starting to catch
on to the power of influencers, finally, there are some
parks that still their marketing plans are all about how
much ad time are we purchasing, how many billboards, how
many commercials. They they don't get it. It's they don't
understand their market in many cases.
Speaker 1 (18:43):
So yeah, it's badly especially if you are if they
are like you, like we just talked about, if that's
a need to move on.
Speaker 2 (18:49):
I just last it's like, especially if they.
Speaker 1 (18:51):
Are like targeting like that budget or any any one
younger in that age range. You're like, this is literally
the market that you're that you know, you're targeting with
your parks, and like, yeah, so anyway, yeah.
Speaker 2 (19:06):
I think that that's a unique thing.
Speaker 1 (19:07):
For us to Yeah, yeah, I just think I thought
that's something that's unique for us in the amusement space
because a lot of the markets that we target are younger,
and I think that is always a challenge for us
in amusement industry. Written large is like you know that
those again very trendy you know, K pop demon hunters,
(19:28):
which we won't get to talk about today. But that's
a good example of making sure you're on the transport. Okay, okay, sorry, okay.
The next story is about the Disney earnings. There's not
too too much to talk about here, but basically, they
reported their fiscal fourth quarter earnings on Thursday. It did
top end list expectations for earnings, but it missed on revenue,
(19:49):
and that's mainly because of the cord cutting. Basically, the
TV networks had a lackluster theatrical film and lackluster theatrical films,
So overall, I think it was pretty good. It's just
those two are starting to weigh down the company more
and the stock closed down more than seven percent after
the earnings, which was not good. Operating income for its
(20:11):
TV networks dropped twenty one percent. On the flip side
the thirty nine percent, the streaming had a rise of
thirty nine percent. So again, they've been talking about this forever,
but it just it it seems like it's starting to accelerate.
Speaker 2 (20:29):
If anything, and I think this is a point that
I had wanted to make.
Speaker 1 (20:35):
It is just thinking about how really we're chasing a
smaller screen now. So if if your business that all
relies on making stuff for larger screens, it's probably not good.
It's smaller screens is where it seems like the audience
and the money is at. And I think this has
caught both Comcast and Disney off guard because previously, before Epic,
(20:56):
we were talking about how it was catching Comcasts off
guards how quickly that the cord cutting was eroding, Like
it's like it's like they thought it was going to
be here, but it's it's starting to go like this right,
and it's starting to just go accelerate. And I think
that also caught in this quarter, caught Disney off guard
where they didn't have a fancy new theme park to open,
and so it caught that a little bit off guard
(21:18):
having an accelerated amount of cord cutting. And both of them,
you know, have made bets in streaming, and Disney Plus
has been paying off, but it's always the question of
like is it going to pay off fast enough? And
if it's not going to pay off fast enough, then
what are you going to do to replace that that revenue?
But on the on the good side, it is that
Disney Plus reported nearly two hundred million subscribers, which is great.
(21:40):
And remember the the ESPN app that they have been
working on. They talked a lot about that and think
that let's see. Executives touted the recent launch of ESPN's
direct to consumer app, which brings all the content from
linear TV networks to streaming for the first time. They
said this didn't cause more cable bundle losses and instead
it led to more overall users and engagement. Bob Eiger
(22:02):
called the ESPN app a positive step for the future
of ESPN, notoriously known for one of the few channels
holding the kill A bundle together. So ESPN's results are
reportedly separate from the entertainment TV network.
Speaker 2 (22:12):
So that's all.
Speaker 1 (22:17):
Again back to their they're trying to rapidly shift, so
I think now they've decided the TV bundles are running
too quickly, so they're pushing the ESPN app, which is
I mean, just like with comcasts, it's a matter of
like can you switch your business model fasten up, befoward
to rhoads. The last thing I wanted to share was
there was a really insightful post. Of course, I always
(22:39):
read like the earnings and listen to the earnings. With that,
I always like to read what all the other analysts
are saying, especially ones that are not in our industry
to see what other people think of our industry, and it's.
Speaker 2 (22:53):
It was interesting. I found one Chris Columbo that had a.
Speaker 1 (22:57):
Great little, tiny little chart here, which is hilarious, he said.
He said, basically, the new model is that ip that
lives across screens and spaces and monetizes at every step,
and it starts in the low mid budget movie now
like a smaller budget movie, then goes into makes a
huge streaming wave, then goes into retail, then goes into
character momentum showing up in parks. And we've been talked
(23:19):
about this forever because that's the classic, you know, Disney Flywheel.
But I think what is changing here is thinking about
the input still needs to be a good story, but
not necessarily a big budget and that's because you're you're
making it for a smaller screen. You're not making it
necessarily for movies anymore, or for broadcasting. You're making it
for like people watching on their smartphones, because a lot
(23:40):
of people just watch on their smartphones. And I think
that was an insight that I was like, oh, interesting,
and we won't get to talk about Netflix House, but
it plays exactly a Netflix house.
Speaker 3 (23:51):
Yeah, it's well, it's interesting because I just had I
just had a meeting with a local film and video
production company that I've worked with before, and they're they're
branching out. They do a lot of you know, they
do a lot of corporate stuff and the but they're
branching out into They've just sold their first their first
major motion picture, and they're and they're they're very excited
(24:12):
about future projects. And and this is this is the
same company that that I've worked with before, either I've
hired them to produce stuff for for live experiences or
they've used me as an actor from time to time.
But I told them, I said in our meeting, I said,
look here, you got to think about it this way.
Stop thinking about your company to make movies. Think about
your company to build IP, because it's not it's not
(24:36):
about the movies. It's not about the movies. It's you know,
people don't go to movies, and even even people who
have never seen K Pop Demon Hunter recognize it when
they see it in the stores in the they recognize
it if they even if they haven't watched it, they
know it. So it's all about building the IP and
(24:57):
it used to be. You know, back in the day,
it was let's create this really impactful film and then
we'll add, well, we'll outsource these characters, bring them into
the real world.
Speaker 1 (25:06):
You know.
Speaker 3 (25:07):
That's how both Disney and Universal Studios started, was so
that you could live the movies. You could actually participate
in the characters that you saw on the two dimensional screen.
But the world is moving too fast for that, so
you've got to now make it so that they all
give birth at the same time, so you're building ips,
not making movies.
Speaker 1 (25:25):
Yep, yep, Okay, all right, we have to get to
this last story really quick.
Speaker 2 (25:36):
Hershan, Yes, Hershan.
Speaker 1 (25:39):
I just realized I did not talk at all about
the parks, but I don't think we necessarily need to.
The only thing that Disney mentioned about their parks in
the Earnings is that Disney Experiences, so the theme park
sector of Disney, which is so funny. Because it's so funny,
I sometimes I forget about the theme park section, even
though that's our business of the Disney Earnings. And also,
(26:03):
I still think that Netflix should buy Disney, because let
us not forget how much larger Netflix is when compared
to Disney and they could buy it with just their
free cash flow, so anyway, they probably just should buy
Disney and be done with it. So anyway, so the
theme parks did really well. They saw an increase of
thirteen percent compared to Q four of last year. Domestically
(26:23):
they grew nine percent, and basically they're saying it's because
of Epic univers On the earnings call, they said, we've
talked about Epic Universe in the past, in particular as
something that we knew was going to be a factor
in domestic parks, and in fact, it was very much
in line with our expectations. If anything, it seems to
be impacting the rest of the competition down in Florida
more that's impacting us from a consumer perspective. We certainly
(26:44):
feel good about it. So they went on to say,
we are pleased with these results and encouraged by the
continued resiliency of our domestic parks. So and let's see,
it said most of the uptick comes from spending inside
of the theme parks as well as they also have the
Disney Treasure launch. But basically, uh, it's that that wave
(27:07):
we talked about.
Speaker 3 (27:08):
Yeah, and we've you know, that's just reinforcing what we
said when Epic was, you know, just about ready to open.
It's my guess is that all the parks in Florida
are seeing an uptick of some sort. They may not
be seeing the one they anticipated, but Disney it makes
the most sense because of course they are the most
the most relevant. My guess is people are going and
(27:29):
staying at Disney and visiting Epic on a on a
on a day, Epic becomes a day trip.
Speaker 1 (27:35):
But I don't know, well, United Parks and Resorts reported
a six percent, six percent decrease in revenue in three
percent dukies in attendance, So I think it's more like
that's that's exactly what Disney actually was, more like, this
is what happened Disney. They were like, what do you
think about United or what do you think about Epic
Universe Disney, and Disney was like, we think it's great
(27:58):
because we're doing great and it's helped us, but it's
not helping everybody. And then they're like smugly smiling, and
then they're like pointing to the other parks.
Speaker 3 (28:06):
That's what's happenings. And that's kind of unnerving for United
Parks because that means they're from a guest standpoint, they're
no longer placed in the same category as Universal and Disney,
which is what especially the Orlando parks have been trying
to do for years. So yeah, that's that's a little
unnerving for them.
Speaker 1 (28:24):
Okay, sorry, Silverwood, Oh my god, Okay, we had to
get Okay, we got it. So Hershend is acquiring Silverwood.
Many thought that we should have started with that news,
but here we are. So the thing park owner and
operator Hersein signed an exclusive term sheet to acquire Silverword
Theme Park in Idaho from the Norton family, who have
operated the park since it's founding.
Speaker 2 (28:44):
In nineteen eighty eight.
Speaker 1 (28:47):
This is more than a business transaction, it's a continuation
of a legacy, says the Hershon CEO.
Speaker 2 (28:52):
Andrew Wexler. We are honored that the Norton family has
trusted us to carry their vision forward and excited to
welcome Silverwood hosts and guests to Hershend. I could not
think of a better I mean, this, this is gonna
go well.
Speaker 3 (29:06):
After we've just said mergers, mergers and acquisitions never go well,
except this one.
Speaker 2 (29:11):
Well, this isn't a merger. This is a pure acquisition.
This is and I think in.
Speaker 1 (29:15):
This case, you know, we know that Hershin does well,
I mean everybody. That's the other thing everyone in our
comments agrees with is that Hershind is like the best quality.
You know, It's like up there in terms of the
best quality of all these parks that a lot of
people were saying they were Hershind would have bought the
Cedar parks, you know, but they're small, it's a small
it's small chain. But I think they will handle this
(29:37):
well as they have handled the previous acquisitions.
Speaker 3 (29:39):
Well. Yeah, And I think it's also good that it's
hershened because again, family park, and I think part of
the reason that they could get that agreement was because
the Family Park talked to Hershint, which is very family oriented,
very family based to begin with. And I'm guessing that
the Norton family felt that they could they could sell
this park to an organization that will can tinue to
(30:00):
run it the way they want it run, with the
same level of experience, guest experience. And so it's yeah,
I think this is a great I think this is
a great move. I think it's good for Hershen. I
think it's going to be great for Silverwood quite honestly,
so we will we will see fingers crossed. All right, Well,
that's all the time we have. Philip and I are
going to immediately finish this show and dive into our
(30:23):
our Patreon show. We're going to dive into Unhinged, and
my guess is, well, probably because we're both just crazy,
pulling our hair out trying to figure out what we
can do for Iappa. My guess is we're going to
chat a little bit about a pre i appa what
the hell do we need to get done in that.
So if you'd like to subscribe and hear our craziness
before we dive in, and if you are attending IAPPA Expo,
(30:45):
please stop buy on Tuesday at noon, stop by the
hunting Grounds and chat with Philip and I because we
will both be there presenting Marketing the Monsters, which is
a whole session, whole talk about how to differentiate your
marketing plans from your day product to your haunt and
why those are very different and how important they can be.
So we're very excited to talk about that. It's one
of the few times, actually it's the first time Philip
(31:06):
and I have ever actually spoken together at IAPPA and
we're really looking forward to that, so please stop by
and say hello, but we are out of time, so
on behalf of Philip and myself. This is Green Tag
Theme Park in thirty and we will see you next
week
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