June 22, 2025

Louvre Walkout Shocks Paris | Netflix House Revealed

The Louvre closes due to over tourism, and Netflix announces themes for its first FEC.

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Trends

The Louvre’s staff closed the world’s most-visited museum with a snap strike, blaming “untenable” crowding and a 20 % cut in state funding even as attendance soars. Philip and Scott pull three operating fixes every attraction can steal now—hard capacity caps, timed-entry tech, and reinvesting in on-site teams before adding the next wing—because a six-year master plan won’t save a gallery that melts down tomorrow. Across the Atlantic, Netflix unveiled its first Netflix House venues—permanent ticketed centers built around Wednesday, One Piece, Stranger Things, and Squid Game. The hosts explain why Netflix needs brick-and-mortar revenue as YouTube does to streaming what streaming once did to cable, and what that means for parks that suddenly share a lane with a $200 billion content giant. Bottom line: cultural icons must treat capacity as an asset while digital titans rush to monetize IP in the real world—collision is coming. Listen to weekly BONUS episodes on our Patreon.

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From our studios this week in Los Angeles in Tampa.

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This is green Tag Theme Park and thirty. I'm Philip.

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He is Scott Swanson of Scott Swinson Great Development And

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on Green Tag we break down the top theme park

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news each week and explain white matters to business professionals.

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And this week we are covering the third act in

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the Louver.

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Drama, which is what I will be calling it from

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There we go, There we go. Yeah, it's so funny.

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So we we've reported on challenges. I think challenges is

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fair that the Louver has been facing and this is

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the this is the the Paris Louve, not the not

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the Abu Dhabi Loof. But yeah, it's uh, well it's

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become very it's become very dramatic.

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It is so great. I'm just and it's so French. Also,

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I mean, I'm sure it's.

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It's like because just because I like it.

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But I also it's one of those things where I'm like,

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I don't know if this would happen, you know, in America, definitely, but.

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So it's been going in a mare. Who knows what

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would happen in America. We just don't know that as true.

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That's also true.

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That's a good point, Scott, though we do know that

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in the last several episodes we talked about the background

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for this, which is background is so here.

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I'll let you recap act one the Loopes Act one.

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Act one is that after the pandemic there was revenge

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travel and also due to more interest in international locations

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that are not necessarily the USA, you have seen a

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like spike in visitor attendance at the Loup. And we're

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not talking like five extra people. We are talking double

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the capacity that these rooms were meant for. We're talking

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twenty thousand people trying to see the Mona Lisa every day.

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You know, we're talking just a lot, like an incredible

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amount of what the infrastructure is not meant to contain.

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And so that was sort of act one. Act two

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was that there was a like leaked memo, like quote

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unquote leaked memo from the director of the Louver and

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it leaked out to the press, but it was it

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was from the director being written to the government and

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basically the director outlined all the terrible things that was

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like there's damage to the infrastructure that the bathrooms, like

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the staff just can't can you know, keep up the

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upkeep and also make it habitable for people and all

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this kind of stuff. And then at that point we

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covered the plan and Macron had a plan, right. The

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plan was basically we've done and talked about it where

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it seemed like politically he didn't want to try and

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like appropriate money for the louver, and so what he

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did politically was like basically put announcers going to there

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was gonna be a tax on visitors, like a you know,

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a fee to visit them, like extra fees to visit

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things that residents would be exempt from. And then he

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would they would collect those over the next six years

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ish and use them.

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To renovate the building.

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And then what happened was now we're to Act three,

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which is that the staff did not like that. So

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so basically they went on strike, which is great. I

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just think it's great from a just I mean, you know,

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it's a bad situation. I think it's it's a legitimate

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way to kind of help or to bring attention back

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to it. But basically they just said, we can't wait

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six years for help, basically, and they said that they

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called his plan, they say, the seven hundred to eight

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hundred million euro plan renovation plan was hypocritical and it

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masks a deeper crisis because while Macron is investing in

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new entrances and exhibit spaces, the loose annual operating subsidies

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from the French state have shrunk by more than twenty

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percent over the past decade, even as as I mentioned,

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Busard numbers of sword. So they're kind of pointing to

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a systemic problem, which is that there hasn't been investment

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to match the amount of additional attendance that is coming in,

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you know, and that they can't wait six years.

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But in fact they have reduced the support as the

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attendance goes up. It's not even they're not even holding

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status quo and they're not adding more more financial support

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for additional visitors. They're actually going down. They're supplying financial

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support for additional visitors.

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Yep.

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And so they're basically saying that the chronic understaffing and

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the situations there with the ticket agents and the security

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just everything is just untenable, is what they're saying. And

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if you look at the pictures in the piece that

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from the Associated Press, I mean the lines and these

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I mean, it is it is crazy like to see

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that I mean it, it does look really bad, and

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so I'm not sure the reality, of course we're not

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there on the ground, but the pictures are pretty look

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pretty bad. But so yeah, the Love temporary closed because

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the staff went on strike, and whether or not it's

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going to reopen or reopen importions is TBD as when

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we're recording this and then to see how how the

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long term stuff.

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Will work on it.

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But they this actually the AP brought it into context

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for that area that across southern Europe that this is

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not the only anti tourism protests happening, that there were

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thousands rallied in Venice and Libson and beyond denouncing an

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economic model they say displaces locals and erodes city life,

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and Barcelona activists sprayed tourists with water pistols, a theatrical

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bid to cool down runaway tourists. So that is we

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talked about that last time. Also because Japan, of course,

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we had covered previously how Japan was like putting up

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new fences and kind of like having to put up

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signage and do things that they didn't normally have to

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do because the visitors didn't have the same sense of

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care that the locals did. For some of their historic properties,

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and that they're putting capacity limits and prices, and so

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this seems to be sweeping across a lot of the areas.

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We're not seeing it here in the US, or I

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have not seen anything about any of it here in

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the US.

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But well, and you know, there are many countries who

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are saying don't come to the US right now.

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So there's that, yes, there's that. There's but it is

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an interesting thing. We talked about the trend last time,

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where Scott and I I think advocated that tourism writ

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large is a good thing, but infrastructure, especially what Scott

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said about creature comforts, is also a good thing. And

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it's definitely about having the balance. And I think we

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we as tourist and professionals, can't take for granted. I

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think that all of the folks in these situations also no,

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you know, they're not necessarily tours and professionals that have

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the same background that we do.

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And or even if we think.

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About Scott's background in managing amount people for a large facility,

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like you don't necessarily have that if you're the guy

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who's in charge of bringing up, you know, the tickets

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and stuff at Mountain, like, that's not necessarily in your background.

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So we talked about last time how that could be

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part of it. But this is definitely an escalation, and

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I just think it's funny.

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Well, and it's interesting because I think that you know

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you're right, this is this is creature comfort. But this

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is creature comfort both for the guests and for the

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employees and for the team members. That is being that

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has has gotten to the point where it needs to

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be fixed, and it needs to be fixed sooner rather

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than later based on what we've read. Again, as you said,

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we're not boots on the ground, so we can't we

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cannot advocate for this based on first person experience. This

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is sort of trying to read between the lines, I

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guess and figure out, you know, what is what is

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really going on. Suffice to say that it was to me.

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To me, the thing that is most interesting about the

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Love specifically is it's it is, and I think Philip

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alluded to it. It is the current plan is a

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white wash up to cover up the fact that they

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have been reducing quietly and slowly reducing funding. Now, the

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next question is, if the Lover is so popular, what's

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happening to all of the money generated by that popularity,

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is that it is the business model such that that

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is what they need just to keep their head above water.

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Because if that's the case, there's another problem. You know,

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having worked with both profits and nonprofits, I am a

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firm believer, and there are nonprofit organizations that will disagree

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with me, but I am a firm believer that a

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nonprofit should operate as though they are for profit and

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use their nonprofit status to continue to use it towards

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R and D, to continue to develop, to continue to grow.

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And I will say, based on my experience in working

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with nonprofits, if you're looking for grant money, not necessarily

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government grant money, but grant money from sponsorship and from corporations,

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And that's thing. Corporations want to see that their money,

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their investment, is going to be utilized to its best

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possible outcome. So they want to see that you know

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how to run your organization. They want to see that

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you are focused as much on the basic infrastructure as

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you are the sexy new exhibit or the sexy new

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ride or whatever that is that's going to come up

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in the future. So there is a balance here, you know,

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I know you are thrilled by the fact that they've

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gone on strike and you think that's really fun. Having

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spent enough time on the other side of that, I

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think this is a I think this is a very

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sad situation because basically, and maybe I'm wrong, but what

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I'm hearing, because we've seen the leaked memo in act too,

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the management of the Loop are stuck between a rock

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and a hard place. They don't have the funding that

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they need, primarily from the government, and they have very

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disgruntled staff. So you know, when we say quote unquote leaked,

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that kind of makes sense that that got out, yep,

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so that it would light a fuse, you know, it

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would it would force some some hand. It did force

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some hand, which was the let's do taxes. Let's you know,

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let's basically add tariffs to people visiting the Louver and.

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We'll see how.

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That pans out. And the idea of we can't wait

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six years. That's that's where I think there's a little

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bit of a a questioning, you know, is this, would

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it be possible, for example, for the government to reevaluate

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the budget for next year so that they could start

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getting that funding in and then utilize the additional tourist

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tax for lack of a better description, the additional tourist tax,

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to then bring that money back into their coffers so

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that we can get the apparently very very much needed

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improvements made so that the guest experience continues to be

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something special, continues to be something desirable. And you know,

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and I'm sure that there's an argument people sitting out

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there going, but wait, they've already got people breaking down

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the doors, They've already got twice capacity. Why why is

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that even a concern? Because eventually the pendulum will swing

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back the other way. Eventually people will go, yeah, we

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went to the Louver. It sucked, it was horrible. Yeah,

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we didn't get to you know, we got to we

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got to one gallery. We had to wait two hours

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to see the Mona Lisa, and that even then it

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was across the room of crowded people because the Mona

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Lisa kids is not that big.

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People are saying that there's some people in the story

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actually quoted that are being like what you see when

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you go into mon Lisa's elbows and cell phones. You

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don't see the Mona Lisa, right.

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And a posting vamp on the other side of the room.

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Yeah, so I'm wondering what do you think about changing

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the capacity, because apparently there is currently a like a

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capacity as in like a whatever. I think it's they've

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set it. I think thirty thousand is already a limit,

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like they've already set a limit on daily attendance. I

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guess my question is what about dropping that to where

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it's actually supposed to be, which is fifteen, and then

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just saying just like dynamic pricing in a way right

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where you're just saying, look like it's fifteen.

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So the Disneyland model, Yeah, just be.

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Like it's max fifteen and you get therapy times where

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it's more expensive, Like like, why not in this case

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because of the urgency of the situation, why not put

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that effect and then that could affect real change immediately

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for the staff members. And it's and there's got to

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be I'm not sure about how it works in France,

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but like you know, if the room was built for

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X and you're putting why in it, it seems like

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00:13:02.519 --> 00:13:06.799
there's also a danger just in the amount of people

235
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in the room for fire code and for evacuation. So

236
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I mean it seems to me like those things I'm

237
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curious about, like why if they already have a capacity

238
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limit or you know, a restriction on the number of

239
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tickets sold for a day, why is it so high

240
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and why aren't they they just take that down? Is it?

241
00:13:25.919 --> 00:13:26.200
Yeah?

242
00:13:26.279 --> 00:13:27.919
Yeah, I have no idea what that what that number

243
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is based on, you know, it's I don't know, I

244
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don't know.

245
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Whether that is.

246
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It was set at the first number because they felt

247
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that would make a good guest experience. Then when they

248
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realized we have people knocking down the doors and people

249
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get you know, if you let fifteen fifteen thousand and

250
00:13:45.080 --> 00:13:47.799
thirty thousand, you know, you were letting in thirty thousand,

251
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and then you cut it down to fifteen thousand, then

252
00:13:49.799 --> 00:13:54.279
you have fifteen thousand complaints? So is that more negative?

253
00:13:54.320 --> 00:13:56.679
You know, it's it's all one of the.

254
00:13:56.679 --> 00:13:59.360
Things that I if you get nothing else from this show,

255
00:13:59.639 --> 00:14:01.360
one of the things that I want you to remember

256
00:14:01.440 --> 00:14:04.879
is there is no silver bullet. There's no magic bullet.

257
00:14:05.039 --> 00:14:07.279
That is just one way to go and it makes

258
00:14:07.360 --> 00:14:11.080
everything right. It's always a balancing act. It is always

259
00:14:11.080 --> 00:14:14.440
a balancing act. So is there going to be more complaint,

260
00:14:14.519 --> 00:14:21.279
more negative publicity generated from reducing the number down and

261
00:14:21.440 --> 00:14:25.559
increasing the price, whether that's through dynamic pricing or just

262
00:14:25.639 --> 00:14:27.320
you know, we're gonna let half as many people in

263
00:14:27.399 --> 00:14:29.840
and we're gonna double the price. You know, that's the

264
00:14:29.960 --> 00:14:33.039
simple math solution. I like simple math because I'm not

265
00:14:33.159 --> 00:14:36.519
very good at it, but that's the simple math solution.

266
00:14:36.679 --> 00:14:42.039
Is that going to create more negativity than keeping letting

267
00:14:42.080 --> 00:14:45.759
everybody in but making their experience less than it should be.

268
00:14:46.120 --> 00:14:48.200
I don't know the answer, but these are all the

269
00:14:48.279 --> 00:14:51.159
kinds of questions that they need to be having right now,

270
00:14:52.080 --> 00:14:55.440
because you know, even because so I was in Paris

271
00:14:56.480 --> 00:14:59.120
ten years ago, twelve years ago, and we didn't go

272
00:14:59.159 --> 00:15:02.159
to the loof because you it was even back then

273
00:15:02.320 --> 00:15:04.919
it was too crowded. This is pre COVID. Even then,

274
00:15:05.039 --> 00:15:07.279
we couldn't get in day of because I was only

275
00:15:07.279 --> 00:15:08.759
there for a day because I was on a cruise ship.

276
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But we couldn't get in, so we opted not to

277
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go to the loose. So this is not a new problem.

278
00:15:15.559 --> 00:15:17.360
That's the thing that I think is frustrating.

279
00:15:17.879 --> 00:15:20.399
This is not new. This is something as you know,

280
00:15:20.440 --> 00:15:22.240
even in the short time that we've been reporting it,

281
00:15:22.240 --> 00:15:26.360
it's already now had three very dramatic acts and it's

282
00:15:26.399 --> 00:15:28.159
one of those situations that has been going on for

283
00:15:28.200 --> 00:15:31.480
at least ten years. So I.

284
00:15:33.120 --> 00:15:35.240
Like some of the solutions. I mean, I'm not opposed

285
00:15:35.279 --> 00:15:38.720
to the tourist tax. I'm really not. I think if

286
00:15:38.759 --> 00:15:40.799
because one of the things that we have to recognize,

287
00:15:40.919 --> 00:15:42.720
and I think this goes back to some of the

288
00:15:42.799 --> 00:15:49.360
other anti tourism stories as attractions. As organizations, Yes, we

289
00:15:49.480 --> 00:15:51.759
have to generate revenue and we have to draw tourism

290
00:15:51.799 --> 00:15:55.679
because that will help our hoteliers and our restauranteers and

291
00:15:55.799 --> 00:15:58.240
the local mall et cetera, et cetera, et cetera. But

292
00:15:58.360 --> 00:16:02.440
we also have to be cognizant of the community and

293
00:16:02.480 --> 00:16:06.960
the neighborhood that we operate in, because the moment you

294
00:16:07.960 --> 00:16:10.919
knock that relationship to the ground, then you've got all

295
00:16:11.039 --> 00:16:14.639
kinds of other trouble. So you know, to to just

296
00:16:14.679 --> 00:16:16.919
put on a flat tax for everybody. We're just going

297
00:16:17.000 --> 00:16:20.320
to do an amusement tax or a museum tax or

298
00:16:20.320 --> 00:16:22.840
whatever you want to call it that applies to everyone.

299
00:16:23.320 --> 00:16:28.559
Then you're not being you're not recognizing that the locals

300
00:16:29.279 --> 00:16:31.600
who have supported you for all these years are now

301
00:16:31.679 --> 00:16:34.600
getting their handslapped because of something that's completely out of

302
00:16:34.639 --> 00:16:35.639
their control.

303
00:16:35.480 --> 00:16:36.799
Which is the additional tourism.

304
00:16:37.600 --> 00:16:40.799
So I think what you're saying a little bit is

305
00:16:40.799 --> 00:16:44.039
that Macron's plan had elements of it that were good

306
00:16:44.159 --> 00:16:47.919
because it was yea was directly it was only taxing

307
00:16:47.919 --> 00:16:49.720
the people who are not local. But on the flip

308
00:16:49.759 --> 00:16:53.200
side that it was too long because of that reason,

309
00:16:53.200 --> 00:16:55.799
because it you know, because it's not taking funds immediately

310
00:16:55.840 --> 00:16:58.720
and it's doing other things. It's taking too long and

311
00:16:58.799 --> 00:17:01.960
so therefore there is no operational adjustment.

312
00:17:02.120 --> 00:17:04.799
Correct. So I think you're saying too far.

313
00:17:04.720 --> 00:17:08.839
Down the well to have a six year plan. They

314
00:17:08.880 --> 00:17:11.119
need an immediate fix and then a six year recovery.

315
00:17:11.559 --> 00:17:12.279
Yeah, they both.

316
00:17:12.519 --> 00:17:15.480
So he needs to work with the local operators to

317
00:17:15.559 --> 00:17:18.319
be like, how can we adjust this but also make

318
00:17:18.400 --> 00:17:19.039
a six year plan.

319
00:17:19.160 --> 00:17:20.960
Think of it as taking out a mortgage on a home.

320
00:17:21.400 --> 00:17:23.759
You know, there are different cultures buy homes in different ways.

321
00:17:24.119 --> 00:17:28.119
Some people some cultures live in live with their parents,

322
00:17:28.200 --> 00:17:31.119
or live in very small homes until such time as

323
00:17:31.119 --> 00:17:33.480
they can buy a home outright, so it takes them

324
00:17:34.119 --> 00:17:37.440
twenty years before they can buy a house. More common

325
00:17:37.440 --> 00:17:39.960
in the United States is the concept of mortgage.

326
00:17:40.079 --> 00:17:41.359
We will get a you.

327
00:17:41.319 --> 00:17:44.240
Know, someone to buy the house up front in essence,

328
00:17:44.240 --> 00:17:46.640
and then we'll pay back the mortgage company with an

329
00:17:46.640 --> 00:17:50.319
interest rate. To me, because this sounds like it's already

330
00:17:50.319 --> 00:17:53.559
gone way too far down the well. To me, that

331
00:17:53.559 --> 00:17:58.000
seems like the only solution is to basically say, okay,

332
00:17:58.160 --> 00:18:00.440
here's our bailout money, and we're going to use these

333
00:18:00.519 --> 00:18:07.480
taxes or these budgetary changes to pay us back for

334
00:18:07.559 --> 00:18:08.480
solving the solution.

335
00:18:08.920 --> 00:18:09.200
Now.

336
00:18:10.079 --> 00:18:12.720
Yeah, yeah, if you think of it like a business,

337
00:18:12.720 --> 00:18:14.480
they should be able to get a loan based off

338
00:18:14.519 --> 00:18:16.720
of the current demand, right basically, well, or.

339
00:18:16.720 --> 00:18:19.440
Just rebudget I mean I make that sound overly simple,

340
00:18:19.480 --> 00:18:23.559
but just reevaluate, reevaluate the budget. And is there a way,

341
00:18:24.519 --> 00:18:26.839
you know, when when one house is on fire, you

342
00:18:26.839 --> 00:18:29.640
don't put water on the entire neighborhood. Let's figure out

343
00:18:29.680 --> 00:18:32.119
a way to take all of the water that's being

344
00:18:32.160 --> 00:18:35.200
spread over the other organizations and really focus it in. Now,

345
00:18:35.279 --> 00:18:40.480
will that upset other organizations? Yes, short term, But that's

346
00:18:40.680 --> 00:18:43.799
you know, that's why I say there's no one I

347
00:18:43.839 --> 00:18:46.039
sit here very smugly and say, well, this is what

348
00:18:46.039 --> 00:18:48.799
they should do, but there is no one solid answer.

349
00:18:48.960 --> 00:18:51.680
These are options that they should be discussing and hopefully

350
00:18:51.720 --> 00:18:54.000
find something that works best for their specific situation.

351
00:18:54.559 --> 00:18:54.839
Yep.

352
00:18:56.079 --> 00:19:00.599
Well, moving on, let's our second story. Here is also

353
00:19:00.640 --> 00:19:03.519
an update for something we covered previously, which is the

354
00:19:03.880 --> 00:19:07.400
Netflix Houses. So previously we talked about how I think

355
00:19:07.440 --> 00:19:09.559
we've talked about this for years. I think about how

356
00:19:09.599 --> 00:19:14.799
the concept of Netflix, basically basically Netflix, over the past

357
00:19:14.880 --> 00:19:18.759
many years, has been experimenting with in person experiences. We

358
00:19:18.880 --> 00:19:21.960
know that obviously there's horror Nights, and there's those part

359
00:19:22.039 --> 00:19:24.559
where they've worked with partners, but there's also where they've

360
00:19:24.559 --> 00:19:27.799
made their own experiences, and mostly these are pop up stores.

361
00:19:28.000 --> 00:19:30.519
The ones I've been to were mostly the Stranger Things

362
00:19:30.519 --> 00:19:34.119
pop up stores, where it's more it is a themed experience,

363
00:19:34.160 --> 00:19:36.920
but it's like a themed shopping experience, right and so

364
00:19:37.480 --> 00:19:40.480
earlier or I don't remember when, whenever this was announced,

365
00:19:40.519 --> 00:19:42.279
we talked about it on the show, and it was

366
00:19:42.319 --> 00:19:46.119
the concept that they're making kind of like an fec basically,

367
00:19:46.160 --> 00:19:49.920
which is called Netflix House, and we weren't sure what

368
00:19:49.960 --> 00:19:52.240
it was going to look like at the time, but

369
00:19:52.480 --> 00:19:55.319
we assumed that it was going to be a collection

370
00:19:55.640 --> 00:19:59.720
of these experiences because they already have tested them effectively

371
00:19:59.759 --> 00:20:01.920
in other places and just bringing them together makes sense,

372
00:20:02.039 --> 00:20:07.480
and so news came out this week that I think

373
00:20:07.480 --> 00:20:10.720
that's sort of what's happening, but I'm still not clear. Basically,

374
00:20:12.279 --> 00:20:15.599
Netflix House will open in twenty twenty five and Philadelphia

375
00:20:15.680 --> 00:20:18.440
and Dallas, followed by a third venue in twenty twenty

376
00:20:18.519 --> 00:20:22.759
seven in Las Vegas. The Philadelphia location will include attractions

377
00:20:22.799 --> 00:20:26.000
based off Wednesday and One Piece, and the Dallas kind

378
00:20:26.000 --> 00:20:29.519
of part will feature Stranger Things and squid Games. Netflix

379
00:20:29.519 --> 00:20:32.000
announced to lineups on June seventeenth, So it was just

380
00:20:32.119 --> 00:20:36.880
this week, and there are pictures out that kind of

381
00:20:36.920 --> 00:20:42.720
show sort of blueprints or mockups, I would say, and

382
00:20:42.839 --> 00:20:47.480
from the mock ups, I'm just I can't really tell

383
00:20:47.960 --> 00:20:48.839
because I.

384
00:20:48.799 --> 00:20:50.839
Just pulled it up and I'm looking at it, going, oh,

385
00:20:51.039 --> 00:20:56.880
this is a little tricky. Yeah, so I'm not sure.

386
00:20:57.000 --> 00:20:59.359
You know, it looks cool. It definitely looks cool. It

387
00:20:59.359 --> 00:21:02.039
looks large, and of course these are larger than they

388
00:21:02.039 --> 00:21:06.839
were previously. The only other interesting things is an article

389
00:21:06.839 --> 00:21:09.640
here from A Trash's magazine points out that both of

390
00:21:09.680 --> 00:21:13.960
these venues are in one one hundred thousand square foot

391
00:21:13.960 --> 00:21:21.160
department stores at two highly frequented malls. So I like again,

392
00:21:21.720 --> 00:21:24.799
we liked the story originally, I'm just unsure of what

393
00:21:24.839 --> 00:21:26.680
it's going to actually be like, and I still can't

394
00:21:26.720 --> 00:21:30.039
tell from these renderings even though we have ips. I

395
00:21:30.079 --> 00:21:33.400
think I like the idea. I don't want to go

396
00:21:33.400 --> 00:21:35.960
on like a huge ransom. But I was talking to

397
00:21:35.960 --> 00:21:38.519
somebody recently, no one's going.

398
00:21:38.359 --> 00:21:38.839
To stop you.

399
00:21:39.359 --> 00:21:44.119
I don't know if it's commentary so to put it

400
00:21:44.160 --> 00:21:47.400
in context, And I was explaining this to somebody recently

401
00:21:47.599 --> 00:21:50.440
as I was ranting about my low YouTube ad revenue.

402
00:21:50.480 --> 00:21:54.559
But I was saying that basically, for the first time

403
00:21:54.720 --> 00:21:58.839
last month, for the first time ever, streaming surpassed cable

404
00:21:59.039 --> 00:22:04.400
and TV viewership in America, which I think, depending on

405
00:22:04.400 --> 00:22:07.359
your generation, you're probably surprised at on either end of it, right,

406
00:22:07.440 --> 00:22:10.680
you're probably surprised at that, and you know, so it's

407
00:22:10.680 --> 00:22:16.279
interesting that what pushed it over the edge was retired folks,

408
00:22:16.319 --> 00:22:21.000
as older folks moving from TV and cable into watching YouTube,

409
00:22:21.599 --> 00:22:24.680
and YouTube has now become a more washed streamer than Netflix.

410
00:22:24.720 --> 00:22:28.240
And I think many times people don't realize that YouTube

411
00:22:28.319 --> 00:22:30.559
is a streamer in the same way that Netflix is.

412
00:22:30.599 --> 00:22:34.000
It really is, and people they watch YouTube on their TVs,

413
00:22:34.039 --> 00:22:37.519
and this is what is pushing this number over and

414
00:22:37.599 --> 00:22:40.119
so all of the places we talk about in the

415
00:22:40.240 --> 00:22:42.319
entertainment are kind of in this battle, even though we

416
00:22:42.319 --> 00:22:45.279
don't realize it right. Comcast is in this battle because

417
00:22:45.599 --> 00:22:48.720
as people cut cables, it impacts its bottom line, which

418
00:22:48.720 --> 00:22:51.160
impacts its ability to get capital to put into new

419
00:22:51.200 --> 00:22:53.319
theme parks and all that. That's why they've been rushing

420
00:22:53.319 --> 00:22:57.359
to diversify, et cetera, et cetera, et cetera. But Netflix

421
00:22:57.400 --> 00:23:01.119
and YouTube are also all interwheuned into this, and to me,

422
00:23:01.400 --> 00:23:05.920
I think that Netflix, in a way, YouTube is doing

423
00:23:06.039 --> 00:23:10.440
to Netflix what Netflix did to cable TV because YouTube,

424
00:23:10.759 --> 00:23:13.519
the cost of content on YouTube is less than half

425
00:23:13.559 --> 00:23:16.400
of what Netflix spends for its content, and we've already

426
00:23:16.400 --> 00:23:18.480
talked about how Netflix is spending less than other people.

427
00:23:18.680 --> 00:23:20.480
So it's this huge race to the bottom.

428
00:23:20.559 --> 00:23:24.920
And it's because effectively, YouTube only pays for content if

429
00:23:24.920 --> 00:23:27.920
that content makes money, and then even when they pay

430
00:23:27.960 --> 00:23:31.799
for it, it's only an advertising split. So you can

431
00:23:31.839 --> 00:23:34.920
have a creator like us, even on this channel, where

432
00:23:34.920 --> 00:23:38.759
we are making years of content for YouTube, but we

433
00:23:38.759 --> 00:23:40.720
don't get paid for it because we have to reach

434
00:23:40.759 --> 00:23:43.839
a certain threshold, and that threshold is pretty high. So

435
00:23:43.880 --> 00:23:45.799
there's that base level. But then even when we do

436
00:23:45.880 --> 00:23:49.720
get paid, we only get a percentage. So basically it's

437
00:23:49.759 --> 00:23:51.720
like someone going out and saying, you're going to produce

438
00:23:51.720 --> 00:23:54.640
the content and I'm going to sell ad space on it,

439
00:23:54.799 --> 00:23:56.240
but I'm only going to give you money if I

440
00:23:56.319 --> 00:23:59.599
sell adspace, and so then you're making this asset for years.

441
00:24:00.079 --> 00:24:02.160
So it's just a much cleaner I mean, it's a

442
00:24:03.720 --> 00:24:07.319
they're making. The business model is just entirely different versus Netflix.

443
00:24:07.319 --> 00:24:09.759
It has to invest every year in new content or

444
00:24:09.759 --> 00:24:12.079
they lose subscribers or whatever. They have to spend the money.

445
00:24:12.519 --> 00:24:15.799
So I think you're going to see that erosion of

446
00:24:15.839 --> 00:24:19.160
Netflix's base in that, like Netflix, it's just a worst

447
00:24:19.200 --> 00:24:23.119
business model when when people are just when there, when

448
00:24:23.160 --> 00:24:24.880
so many people are willing to make so much content

449
00:24:24.920 --> 00:24:27.799
for basically for free or for very little money on YouTube,

450
00:24:28.119 --> 00:24:30.559
then that puts Netflix in a bad place because they

451
00:24:30.559 --> 00:24:33.559
have to pay for their content unlike YouTube. Okay, that's

452
00:24:33.559 --> 00:24:37.000
the background, so similar I think to what Comcast is

453
00:24:37.039 --> 00:24:39.559
doing is Netflix probably sees the right on the wall

454
00:24:39.599 --> 00:24:43.160
and they're like, oh, our business model is eroding because

455
00:24:44.000 --> 00:24:47.640
just you, YouTube can scale infinitely basically and you and

456
00:24:47.680 --> 00:24:50.880
Netflix cannot and yes, while there's always going to be

457
00:24:51.440 --> 00:24:54.960
the appetite for HBO, there's still HBO and that's that's

458
00:24:54.960 --> 00:24:57.160
that's the other problem is that they're almost crunched from

459
00:24:57.200 --> 00:25:00.599
both angles, right, And so I think this, similar to

460
00:25:00.599 --> 00:25:04.519
what Comcast is doing, is a play at diversification. They

461
00:25:04.920 --> 00:25:07.680
look at Disney, they look at Universal and they say, oh,

462
00:25:07.880 --> 00:25:11.440
we also have incredible IP and look at Disney's flywheel

463
00:25:11.680 --> 00:25:13.559
that makes them so much money. And the theme parks

464
00:25:13.559 --> 00:25:17.079
are have a better valuation than Disney plus and they

465
00:25:17.079 --> 00:25:20.039
hear everything that's going on there and they're probably thinking,

466
00:25:20.599 --> 00:25:22.880
what if we made theme parks and we made a

467
00:25:22.880 --> 00:25:26.000
flywheel based off of our good ips and the same thing.

468
00:25:26.079 --> 00:25:29.440
We could invest less in better ips, just like Disney

469
00:25:29.480 --> 00:25:32.680
talked about with Marvel, less in better ips, and then

470
00:25:32.720 --> 00:25:35.119
if we had other forms of revenue that would lead

471
00:25:35.160 --> 00:25:38.440
to better revenue, and if we could attack markets that

472
00:25:38.599 --> 00:25:42.640
are less, you know, that have less competition, Like they're

473
00:25:42.720 --> 00:25:46.079
not going into Los Angeles or Orlando, right, They're going

474
00:25:46.119 --> 00:25:49.960
into places that last and Dallas and Philadelphia, right, which

475
00:25:49.960 --> 00:25:53.720
have great markets, and I assume great viewership numbers, great

476
00:25:53.759 --> 00:25:57.440
percentage of viewers, but also they're not competing with the

477
00:25:57.480 --> 00:26:01.599
Disney or Universal except for the kids or maybe in Dallas.

478
00:26:01.680 --> 00:26:04.680
So I think that's what this is. This is a

479
00:26:04.799 --> 00:26:08.559
larger This is a larger competitive play that is about

480
00:26:08.960 --> 00:26:12.480
diversifying their revenue before it is too late, in the

481
00:26:12.519 --> 00:26:14.720
same way that Comcast is also trying to diversify before

482
00:26:14.720 --> 00:26:16.759
it's too late. And I think it's a very similar

483
00:26:16.839 --> 00:26:19.279
model even to some of the stuff that we've seen

484
00:26:19.279 --> 00:26:21.799
from Universal and that they're trying to make an fec

485
00:26:21.960 --> 00:26:25.359
of some sort of thing where they're collecting interactive elements

486
00:26:25.400 --> 00:26:28.079
based off of the different eyeps that they have, And

487
00:26:28.319 --> 00:26:31.359
as I mentioned before, how well or not this will

488
00:26:31.359 --> 00:26:33.920
do is going to really come down to the execution,

489
00:26:34.400 --> 00:26:37.079
just like with Horror Unleashed, Right, It's like what it

490
00:26:38.119 --> 00:26:40.119
they've shown that they're putting in a place that has

491
00:26:40.160 --> 00:26:43.599
high foot traffic natively, and then they've chosen very popular

492
00:26:44.119 --> 00:26:47.839
ips like one Piece Grow incredibly popular. We talked about

493
00:26:47.839 --> 00:26:52.039
this last time when we talked about the Universal FanFest nights.

494
00:26:52.319 --> 00:26:54.480
So they've chosen popular eyeps and they put them in

495
00:26:54.519 --> 00:26:57.160
locations to gather foot traffic. I'm not sure what else

496
00:26:57.200 --> 00:26:59.519
they could do. Really kind of like they've set a

497
00:26:59.519 --> 00:27:02.000
really good age. Now it comes down to the execution

498
00:27:02.480 --> 00:27:05.319
and their team and their research, and Disney was not

499
00:27:05.359 --> 00:27:07.599
built in a day. That's the other thing we just talked.

500
00:27:07.599 --> 00:27:09.559
We didn't talk about it yet, but the concept of

501
00:27:09.599 --> 00:27:13.079
epic universe. You know, theme parks take like a decade

502
00:27:13.079 --> 00:27:16.039
to really get into the groove of what the park

503
00:27:16.119 --> 00:27:18.680
is going to become and flesh out all the experiences.

504
00:27:18.880 --> 00:27:24.400
And I'm not sure that Universal or Netflix understands that

505
00:27:24.400 --> 00:27:27.079
that there's a time Anyway, I'm done, Scott.

506
00:27:27.160 --> 00:27:29.440
What I think is interesting? No, I agree with a

507
00:27:29.440 --> 00:27:31.319
lot of what you said. I think what I think

508
00:27:31.400 --> 00:27:36.599
is interesting about this particular story is, you know, they're

509
00:27:36.680 --> 00:27:41.640
they're going. First of all, they're utilizing they're utilizing these

510
00:27:42.720 --> 00:27:46.559
old anchor stores quite honestly, Yep, they're they're so they're

511
00:27:46.559 --> 00:27:48.799
going in and they're probably getting the space for pennies

512
00:27:48.839 --> 00:27:52.599
on the dollar because these anchor stores used to be

513
00:27:52.680 --> 00:27:54.839
what pulled people into these males and King of Pressure

514
00:27:54.880 --> 00:27:58.839
Mall in Philly is huge or what huge? Yeah, it

515
00:27:59.000 --> 00:27:59.720
was at one time.

516
00:28:00.079 --> 00:28:02.359
And it's iconic too, right, that's a thing iconic.

517
00:28:02.440 --> 00:28:04.279
Yes, I've been going there, so I have family in

518
00:28:04.319 --> 00:28:07.000
that or had family in that area, and I've been

519
00:28:07.000 --> 00:28:09.480
going to that mall since I was six years old,

520
00:28:09.920 --> 00:28:12.480
so it's yeah, And it used to be it used

521
00:28:12.519 --> 00:28:15.200
to be a destination location when I was little, so

522
00:28:15.400 --> 00:28:18.359
it does have that iconic status. So my guess is

523
00:28:18.720 --> 00:28:21.559
the mall owners are looking at it going, oh, here's

524
00:28:21.559 --> 00:28:23.839
a way we can pull people in, which, first of all,

525
00:28:23.960 --> 00:28:27.279
I think is way overdue in so many other locations.

526
00:28:27.319 --> 00:28:29.920
I know whether they've tried it in different different spots

527
00:28:29.960 --> 00:28:32.799
here and there, but finding a different, a different way

528
00:28:32.839 --> 00:28:37.079
to utilize those gigantic anchor stores is I think going

529
00:28:37.079 --> 00:28:39.400
to be imperative to the brick and mortar world that

530
00:28:39.880 --> 00:28:42.720
we used to live in. So I think that's I

531
00:28:42.759 --> 00:28:44.880
think that's great. I think that's probably working to their

532
00:28:44.880 --> 00:28:49.279
advantage because they're they're getting they're probably getting this these

533
00:28:49.319 --> 00:28:52.240
spaces for significantly less than they used to go for

534
00:28:52.319 --> 00:28:55.720
as a retail. Because the mall owners are thinking, here's Netflix,

535
00:28:55.720 --> 00:28:57.799
They're going to bring in a gazillion people, and all

536
00:28:57.799 --> 00:28:59.160
of our other stores are going to do well so

537
00:28:59.200 --> 00:29:01.640
they can stay in their lifecasions. I think that is

538
00:29:01.720 --> 00:29:05.000
important to address. I agree with you one hundred percent

539
00:29:05.039 --> 00:29:07.680
on it all comes down to execution. I'm hoping that

540
00:29:07.720 --> 00:29:12.200
the execution includes creature comforts because in looking at in

541
00:29:12.240 --> 00:29:15.400
looking at the maps, they seem even though they're one

542
00:29:15.440 --> 00:29:19.640
hundred thousand square feet, they seem tight, and they don't

543
00:29:19.759 --> 00:29:22.240
seem to have a very natural flow to them. It

544
00:29:22.440 --> 00:29:25.519
almost looks like a series of escape rooms.

545
00:29:26.079 --> 00:29:27.720
Is the vibe that I'm getting.

546
00:29:27.720 --> 00:29:29.400
Now, again, I have no idea, and I may be

547
00:29:29.559 --> 00:29:32.000
way off, but it almost looks like a series of

548
00:29:32.079 --> 00:29:35.480
escape rooms where you'll do one ip, than the next

549
00:29:35.480 --> 00:29:39.039
IP and the next ip. The problem there is what

550
00:29:39.119 --> 00:29:42.400
if I don't care about the second ip. So we'll see,

551
00:29:42.880 --> 00:29:44.720
and again I may be wrong, there may be a

552
00:29:44.720 --> 00:29:47.640
central hub in this space that I'm just simply not seeing.

553
00:29:48.200 --> 00:29:49.559
Kind of hope there is, because I think that would

554
00:29:49.559 --> 00:29:52.119
be beneficial. And then finally, the thing that you hit

555
00:29:52.160 --> 00:29:55.039
on that the moment we started talking about this particular story,

556
00:29:55.079 --> 00:29:57.920
it was exactly what I thought is, they've looked at Disney.

557
00:29:58.319 --> 00:30:01.720
They've seen that Disney, no matter how much they try,

558
00:30:01.640 --> 00:30:06.960
their streaming is not performing the business model for their

559
00:30:07.039 --> 00:30:10.400
Their streaming business is not nearly as impactful or not

560
00:30:10.440 --> 00:30:13.319
nearly as profitable as their parks. So they're going we're

561
00:30:13.400 --> 00:30:17.720
leaving money on the table here and you know as YouTube,

562
00:30:17.720 --> 00:30:21.720
which I'm sorry, sorry content creators. I really hope that

563
00:30:21.759 --> 00:30:24.960
YouTube does not put Netflix out of business because I

564
00:30:25.000 --> 00:30:28.279
can only watch so many reality based content. I don't

565
00:30:28.319 --> 00:30:30.680
want to watch your recipe for how to make a

566
00:30:30.720 --> 00:30:36.119
caterpillar cake. But we need higher in production. We need

567
00:30:36.160 --> 00:30:39.119
higher in production than is willing to go on YouTube

568
00:30:39.599 --> 00:30:43.119
for free. So I'm hoping that that's not complete. I'm

569
00:30:43.119 --> 00:30:46.000
hoping that we do have some sense of quality. Don't

570
00:30:46.039 --> 00:30:48.400
misunderstand me. I have lots of content creators that I follow,

571
00:30:48.440 --> 00:30:50.799
Philip being one of them, lots of content creators that

572
00:30:50.839 --> 00:30:55.079
I follow. But I am hoping that as we move forward,

573
00:30:55.119 --> 00:30:56.519
we find that there is a place in the market

574
00:30:56.559 --> 00:30:58.480
for all these things. And I think that Netflix is

575
00:30:58.519 --> 00:31:01.920
doing that by saying we're not just the big blockbuster

576
00:31:01.960 --> 00:31:04.200
things on TV, where the big blockbuster things you can

577
00:31:04.240 --> 00:31:06.359
walk through, where the big blockbuster things that you can

578
00:31:06.359 --> 00:31:09.759
participate in, interact in, and it will continue to build

579
00:31:10.319 --> 00:31:14.720
a stronger audience for the content that they are indeed

580
00:31:14.759 --> 00:31:17.359
creating the high end, you know, studio quality content that

581
00:31:17.400 --> 00:31:21.279
they are creating. So well, speaking of high quality content,

582
00:31:22.039 --> 00:31:23.799
this is about all the high quality content we can

583
00:31:23.839 --> 00:31:26.359
give you this week because our time's up, so on

584
00:31:26.480 --> 00:31:29.279
behalf of Philip Bernandez and myself Scott Swinson. This is

585
00:31:29.359 --> 00:31:31.839
Green Tag Theme Park in thirty and we will see

586
00:31:31.880 --> 00:31:34.240
you next week. Unless you're going to tune in, you're

587
00:31:34.279 --> 00:31:37.240
one of our followers, one of our subscribers on unhinge,

588
00:31:37.480 --> 00:31:38.920
and then you can go watch that and listen to

589
00:31:38.960 --> 00:31:42.240
us rant and find out what we really think
Scott Swenson, ICAE Profile Photo
Scott Swenson, ICAE

For over 30 years, Scott Swenson has been bringing stories to life as a writer, director, producer, and performer. His work in theme parks, consumer events, live theatre, and television has given him a broad spectrum of experiences. In 2014, after 21 years with SeaWorld Parks and Entertainment, Scott formed Scott Swenson Creative Development. Since then he has been providing impactful experiences for clients around the world. Whether he is installing shows on cruise ships or creating seasonal festivals for theme parks, writing educational presentations for zoos and museums or training the next generation of attractions professionals, Scott is always finding new ways to tell stories that engage, educate and entertain.

Philip Hernandez, ICAE Profile Photo
Philip Hernandez, ICAE

CEO of Gantom, Publisher of Haunted Attraction Network

Philip is a journalist reporting on the Haunted House Industry, Horror events, Theme Parks, and Halloween. He is also the CEO of Gantom Lighting and Founder / Publisher of the Haunted Attraction Network, the haunted attraction industry's most prominent news media source. He is based in Los Angeles.