Aug. 18, 2024

The Latest Park Earnings & Universal's Expansion to NYC

Earnings from Q2 signify both a continued normalization and hope for sustained growth in the theme park industry. Meanwhile, Universal is expanding to NYC for Halloween.

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While Disney's income dip isn't exciting for investors, it signals that the tourism industry continues to moderate post-pandemic. Six Flags and Cedar Fair also released their final separate earnings; there's hope in those reports. Meanwhile, Universal has hijacked the news again by expanding Halloween Horror Nights to New York City.

Disney Earnings

https://www.themeparkinsider.com/flume/202408/10385/

Six Flags reports final results for old Cedar Fair, Six Flags parks

https://www.themeparkinsider.com/flume/202408/10389/

Universal Studios Japan Announces First-Ever “Halloween Horror Night: All Night” Event

https://tdrexplorer.com/universal-studios-japan-announces-first-ever-halloween-horror-night-all-night-event/

WEBVTT

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Okay.

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This week from our studios in Orlando and Tampa, in

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the same time zone, on the same coast in the US,

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this is Green Tag Theme Park and thirty. I'm Philip

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and I'm joined as always as I am every week

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by my co host Scott Swinston a Scott.

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Swins animated no matter howard you try, and I'm always here.

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You know, a lot of people asked to be a

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guest on the show, Scott, and I was like, if

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you can point to another guest we've.

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Had, Yeah, I was just going to say, well, it's funny,

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so just let's address it for just a second. One

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of the things that we did at the very beginning

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when we first started doing the show is we said

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we did not want this to become a talk show.

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We did not want this to become a show where

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we bring on guests. We did not want this to

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become a show where we do anything other than review

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the news from an industry standpoint based on our experience

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and our exposure to said news and now there we

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have had some discussions about maybe expanding that for you know,

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other platforms, et cetera.

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But the idea is that this we've remained.

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True to who we are, what we wanted the show

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to be, and I think that the people who are listening,

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you know, we've discovered, I've discovered completely by happenstance, that

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many of our listeners are very dedicated to what we

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have to say, because one of them actually told me

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not too long ago, because I always know I'm going

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to not necessarily agree with you, but I'll always be

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introduced to something I should know about because I'm in

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the industry, and that's been the point of this show

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from the get go.

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So I we stick by it.

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And you know, that's not to say that we won't

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do some other thing somewhere at some other time that

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doesn't have interviews and that sort of thing, but it's

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just it's the way we set out to do the

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show and we've decided to continue to stick with it

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because we believe that this is the right way to

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do it.

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For us, so hopefully it's the right way to do

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it for you too who are listening. So thank you.

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And plus I'm lazy. I don't really want to change

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the format. That's more work. Halloween is coming, I haven't

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got time.

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The epis the way.

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Who does all the work for this show anyway, I

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just show up in talk so you know it's.

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Yeah, okay, okay.

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So today we think we'd start off by talking about

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the earnings reports. Now, what happened, as is always the case,

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and you know, it's fine, give it to them, this

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is how everyone does it.

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But what happened was.

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Disney the earnings came out right before D twenty three,

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and they were not I think as robust as I mean,

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everyone always wants everything to be incredible, right, that's that's

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not personally, that's not how the markets should go. You know,

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at some point you need the markets to crash because

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that's when the new the younger generation can invest at

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you know, good amounts. And I mean that's how it's

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It's normal for things to go up and down. A

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cyclical thing is normal. Everything can't go up constantly. But

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obviously that it it's always you know, not great news

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whenever there's a little bump in the road. And I

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think that D twenty three definitely was designed to cover

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up the this and it worked because the news, well,

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no one was talking about the earnings. It was all

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about the announcements of the twenty three made so so

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just so you know these This is kind of like

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old news, but we didn't We even didn't talk about

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it last week because we're busily with the D twenty

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three stuff.

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So because we're talked about yeah, I was gonna say

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we were buried at D twenty three.

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Yeah.

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So I'm going to read some excerpts here from different

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statements and then we'll talk about it. So I'm pulling

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this one from Impark Insider, but this is this was

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also quoted from their Disney's a press release and their

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their statement for their earnings. So the Disney Experiences segment,

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which includes the parks, Disney Cruise line, and consumer products,

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reported an eight point three eight in billion revenue for

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the quarter, up two percent from the prior year, and

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two point two to two billion in operating income, a

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decline of three percent. So they saw revenue up but

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operating income decline, So higher costs is what they cited

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in the decline operating income for the US parks US specifically,

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which we're down six percent to one point three seven

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billion for the quarter. Internationally, operating income was up two

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percent for the quarter, so the US stuff was down

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and the international stuff was up. Dissere remported higher attendance

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and occupied room nights at its international properties. The company

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said that the attendants at its ux parks was comparable

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to the prior year, and that per capita guest spending

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was slightly up. In a statement, they said that we

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expect that the demand moderation we saw in our domestic

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businesses in Q three could impact the next few quarters.

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While we were actively monitoring attendance and guest spending and

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aggressively managing our cost space. We expect Q four Experiences

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segment operating income to decline by mid single digits versus

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the prior year, reflecting these underlying dynamics, as well as

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impacts at Disneyland Paris from the reduction in normal consumer

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travel due to the Olympics and some cyclical softening in China.

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I actually thought that was a great statement. I mean,

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you know, do I still wish that they had talked

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about what they're going to do to shore up demand

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in summer months and add more water. Sure, But you

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know what, I'll take this one because I liked that

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they a kind of setting it like, hey, we're normalizing,

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you know, this is normal. We expect a little bit

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of a dip in these next few quarters, you know,

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even though everybody expects always Q three and Q four

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to be ridiculous because of Halloween and Christmas. They're like,

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we're gonna, you know, moderate your expectations with that. And

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I like how they cited the Olympics and you know,

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the cycnical softening and China, Like I'm glad they kind

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of were like, here's some stuff that you know that

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we know is happening. We're pointing to these decline in

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mid single digits at the next few quarters.

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So I thought that was a good statement.

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I'm sure you know, the markets were not happy, because

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markets are never happy that anything that's not going up

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into the right.

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But I think this is fair. What do you think,

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Scott No, I agree.

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I agree. I think that what they're trying to do

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here is normalization.

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To report that we are normalized, we're starting to normalize

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after a pandemic is not what any stockholder wants to hear. Yeah,

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you know, it's it's not what anybody really wants to

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report either, because it's like, yes, things are back to normal.

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Nobody wants to hear that. They want to continue to

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hear that there is growth, growth, growth, growth, growth. I've

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even had discussions with some other organizations that I've been

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involved with where if there's not a percentage growth year

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over year over year, then they consider the event or

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the park or the attraction or whatever a failure.

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And I'm like, that's just not possible.

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I know there are people out there who say, well, no,

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but that's why we're in business, and blah bla blah blah.

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That's what I understand that.

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But you've got to look at the realities of the situation.

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And it's just like, if you are like a stockholder.

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Let's take it down to the individual level. If you're

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a stockholder and you hold stock in whether it's a

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you know, a mass.

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Conglomeration of stocks or whatever, you kind of look at

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the law. You look at it in.

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The long game, and you go, am I going to

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earn money over the next five years? Because if you

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sweat every day going up and down, you're just not

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being realistic number one, and you're gonna drive yourself crazy.

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Is it important to track, Yes, it's absolutely important to track.

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If it's a continuing trend that goes on for you know,

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four quarters in a row that's consistently down that's probably

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an issue, that's probably something you want to adjust and address.

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But it all comes down to the stockholders. They got

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to keep the stockholders happy. And what better way to

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keep the stockholders happy than when the news is not

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particularly good to cover it with New Villain's Land, New

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cars Land. This is changing, this is changing, this is changing.

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So again I agree with you, Philip. I think this

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is just all pretty kind of normal, and I don't

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think it's anything that should be anybody should be particularly

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stressed about.

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I think it's also important to take it in the context,

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you know, like you said, but also expand that to

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understand the context of this performance within the tourism sector.

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And we've been talking about that for a long time

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about how all of this is expected, and I think

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within the tourism sector they're doing really well. It's it's

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similar to if you look at the US economy as

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compared to the other G seven stuff. You know, it's

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the same problem people. I think a lot of people

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don't feel like it's good because of the pockets, and

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you know, because there are definitely some people in America

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that are benefiting much more than others. But like you, so,

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I think it's a very similar issue a little bit

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where people are thinking it's not good, but really, you know,

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it's I think the best performance of anyone in the

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tourism sector. So like it's I think it's still great.

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It's caused for good news and we can see the

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sector as a whole is recovering still, like we said,

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normalizing and back on track. You know, there's no warning,

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so sector as a whole, it's like no one is

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looking to jump out of the tourism sector entirely, so.

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Right, and you know, it kind of goes it kind

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of goes back to one of my favorite phrases from

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one of my previous mentors. Nothing is ever as good

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or as bad as we want to make it out

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to be. Because things are fine is not sexy for

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the media. It either has to be wonderful increase or

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horrible decrease. And there is no you know, I'm I'm

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actually happy living in a pleasant world of things are

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okay yep, But that doesn't get news, which is probably,

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honestly another reason why this kind of got i won't

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say buried, but.

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Eclipsed perhaps by DW three.

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Yep, yeah, because much more exciting.

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Yeah, well, speaking of things that are equally uninciting maybe

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I don't know, equally non exciting or normal. Six Flags

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and Cedar Fair reported also their their last earnings, so

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they're going to start in the future just reporting from

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the new company. But this was kind of the last

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one that we got of both companies, and essentially it's

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showing that six that Cedar Fair was doing well, but

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six Flags was not doing well, but not by much.

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So attendance was up seventeen percent year over year for

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the Legacy six Cedar Fair parks and down two percent

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at the Legacy six Flags parks, so it was up

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at Zedar Fair and down at six Flags. The difference

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in the number of operating days for each chain during

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the quarter when compared with previous year I counted for

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some of that discrepancy because the Six Flags stuff is

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in areas where some of the weather caused closings or whatnot.

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So keeping with that, revenue was up fourteen percent at

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Legacy six Fair to five hundred and seventy two million

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when it dropped, while it dropped one percent to four

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hundred and thirty eight million at Legacy six Flags. Both

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sides reported that the adjusted modified EBITA margin around thirty

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six percent, which is great. I still again, I think

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that's still great. In a statement, the Robert Zimman said,

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I'm extremely pleased with the second quarter performance of the

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Legacy Cedar Fair portfolio, while Purdue which Pursue which produced

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record levels of attendance and net revenues and generated a

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five hundred and seventy basis point lift in Legacy seat

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Fair adjustity even a margin in the quarter. While weather

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conditions have negatively impacted demand trends in July, we are

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confident that the combined portfolio is well positioned to deliver

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a strong full year performance in twenty twenty two. Since

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completing the merger on July first, we have quickly implemented

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initial integration plans to start to realize the meaningful synergy

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and growth opportunities now available to us. In the near term,

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we are focused on advancing our strategic initiatives and installing

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our core operating principles across our portfolio to tap into

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the tremendous potential we believe exists in the combination of

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these two iconic portfolios of assets.

240
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Wow, that's really good pr speak. That's that's very nice.

241
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Yeah, But the truth of the matter is I mean,

242
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it could in my opinion, you know me, I like

243
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to sum things up because I'm not that right, So

244
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I like to something's up in the simplest possible terms.

245
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If you when you put them together, they're still going

246
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to do good.

247
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Yeah, yeah, that's the thing. Yeah, well, at least I

248
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think that's what they're saying. And if you look at

249
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the numbers, you know, I think the question is the

250
00:12:07.399 --> 00:12:11.279
question is is the things that we're leading to the

251
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slight Again we're talking peanuts here. I mean, if you

252
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look at again, That's why I said the Disney news

253
00:12:16.240 --> 00:12:17.879
is actually really good news because if you look at

254
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the scale, you know, eight billion versus like five hundred million,

255
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and a percent increase over there, like a much higher.

256
00:12:23.720 --> 00:12:24.200
I mean, come on.

257
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But but the question is are the elements that made

258
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the Legacy Cedar fair Parks slightly you know, profitable in

259
00:12:34.639 --> 00:12:38.399
that segment are they going to be able to be

260
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implemented into the Legacy six flag.

261
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I think that's the question.

262
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And he didn't you know, obviously they didn't specify, but

263
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that would be the question, right, is it is it?

264
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Is it something that you can take over to legacy

265
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six Like park or is it not? And how quickly

266
00:12:52.080 --> 00:12:53.440
could you do? That would be the question.

267
00:12:54.240 --> 00:12:56.679
Well, and we've said it since we first heard about

268
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the merger, is that if you can take the Cedar

269
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Fair upations model and apply it to the six Flags

270
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just mass around the United States, especially you, you're going

271
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to have a successful company. We then said in one

272
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of our previous discussions, is that something we want to

273
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do or should be done because there is there a

274
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niche for the way six Flags operates as a parking

275
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lot with rides. I'm sorry, Six Flags friends, it's you

276
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know there, it is it is. It is well known

277
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that that's a great place to go for thrill rides.

278
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If you want to ride a coaster that's going to

279
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scare the snot out of you, go to a six

280
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Flags park.

281
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You're going to have a good time.

282
00:13:41.720 --> 00:13:41.919
Yeah.

283
00:13:42.399 --> 00:13:44.360
If you want something that is more themed, has more

284
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entertainment elements to it, you know, go to a Cedar

285
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Fair park. And if they can if they can beg

286
00:13:51.360 --> 00:13:53.360
borrow and steel from each other, I think that is

287
00:13:53.440 --> 00:13:56.600
exactly the right way to go. If the Cedar Fair

288
00:13:56.639 --> 00:14:02.039
parks can be more slightly more perceived as slightly more

289
00:14:02.080 --> 00:14:06.600
exciting and the Six Flags parks can be can be

290
00:14:06.639 --> 00:14:10.840
perceived as slightly more polished. I think it's going to

291
00:14:10.879 --> 00:14:14.480
benefit everybody. I think the merger, based on what we're

292
00:14:14.480 --> 00:14:16.399
seeing so far, I think the merger is really going

293
00:14:16.440 --> 00:14:21.440
to be an interesting thing to watch because I think,

294
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you know, it's Will it ever actually compare with Disney internationally, No,

295
00:14:26.799 --> 00:14:30.840
but as it continues to grow, they're going to become

296
00:14:30.879 --> 00:14:31.720
more and more of a key.

297
00:14:31.679 --> 00:14:33.879
Player in the overall industry.

298
00:14:34.000 --> 00:14:36.840
And I even though it sounds like I was being

299
00:14:36.879 --> 00:14:39.120
snarky towards Six Flags, I wasn't. I was saying, just

300
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know your market and be able to adjust accordingly.

301
00:14:44.399 --> 00:14:46.480
Yeah, I think we have gotten a few comments that

302
00:14:46.840 --> 00:14:50.240
I think misinterpreted us in some of that. I think

303
00:14:50.240 --> 00:14:53.240
that we're both excited to see what they're going to do,

304
00:14:53.799 --> 00:14:55.519
you know. I mean, I think that's a fair statement.

305
00:14:55.600 --> 00:14:57.600
I mean, both of us are excited to see what

306
00:14:57.600 --> 00:14:58.679
they're going to do, and.

307
00:14:58.639 --> 00:15:00.960
I think both of these organizations, as they come together,

308
00:15:01.039 --> 00:15:02.200
have something to offer the other.

309
00:15:02.600 --> 00:15:05.320
Yes, I think what we're just saying is it always

310
00:15:05.440 --> 00:15:08.600
comes down to the execution. And that's in any business

311
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and any installation and any theater show. I mean I mean,

312
00:15:11.919 --> 00:15:14.559
everything comes down to the execution. And you know, they

313
00:15:14.559 --> 00:15:18.039
haven't told us what it's going to be, so it's

314
00:15:18.039 --> 00:15:21.080
really us just saying what is what is it going

315
00:15:21.159 --> 00:15:24.080
to look like? And we think we do all agree

316
00:15:24.120 --> 00:15:27.080
there's potential, and then we just want to see that

317
00:15:27.120 --> 00:15:29.639
potential realized because we're I mean, it's all good for

318
00:15:29.720 --> 00:15:32.440
all of us. If these do well, that's actually good

319
00:15:32.440 --> 00:15:34.759
for everybody. That's I mean, I think people have this

320
00:15:34.840 --> 00:15:39.519
weird idea like the better that live entertainment does, the

321
00:15:39.559 --> 00:15:42.720
better for all of us, because you know, then you're

322
00:15:42.799 --> 00:15:45.639
encouraging people to leave their house and get off the couch.

323
00:15:47.480 --> 00:15:51.279
Yeah, exactly, exactly. Now, I will say this is one

324
00:15:51.279 --> 00:15:54.360
of the last times in a in an earnings call

325
00:15:54.440 --> 00:15:57.639
that I want them to say this is due to weather.

326
00:15:58.159 --> 00:16:01.720
I know, because to your point earlier, Philip, what are

327
00:16:01.759 --> 00:16:03.720
they going to do to adjust for that, because it's

328
00:16:03.720 --> 00:16:08.399
not going to change. You know, it's in my lifetime.

329
00:16:08.519 --> 00:16:12.120
I have seen the the change that is happening. I've

330
00:16:12.200 --> 00:16:14.759
seen the weather and the weather patterns that are changing,

331
00:16:15.279 --> 00:16:18.759
and it's not going to get any better, So ignoring

332
00:16:18.799 --> 00:16:23.399
it is not going to help. So yes, it probably

333
00:16:23.480 --> 00:16:28.039
is a reason for for the shortfalls in this quarter,

334
00:16:28.159 --> 00:16:30.279
in the previous quarter and the previous I mean, they

335
00:16:30.320 --> 00:16:35.919
just keep rolling it back. But I but to your point,

336
00:16:36.080 --> 00:16:37.639
I think they need to address it, and I think

337
00:16:37.679 --> 00:16:40.759
they need to stop using it as an excuse because

338
00:16:40.759 --> 00:16:43.360
it's it's it's the new reality.

339
00:16:43.600 --> 00:16:48.639
Yeah yeah, yeah, Okay, let's move on to another story

340
00:16:48.679 --> 00:16:52.919
that just well, you know, I'll be honest that this

341
00:16:52.960 --> 00:16:54.799
came out of left field. I really had no idea

342
00:16:54.840 --> 00:16:58.919
about this, and it's very interesting. So okay, So Jimmy

343
00:16:58.919 --> 00:17:03.440
Fallon and NBCs are introducing Jimmy Fallons to Nightmares this

344
00:17:03.519 --> 00:17:07.039
Halloween season at Rockefeller Center. This Halloween season, Jimmy Fallons

345
00:17:07.079 --> 00:17:10.119
to Nightmares, an immersive haunted maze, will bring to life

346
00:17:10.160 --> 00:17:12.319
the Emmy and Grammy Award winning host of The Tonight

347
00:17:12.359 --> 00:17:15.359
Shows Deepest Nightmares to those brave enough to visit at

348
00:17:15.440 --> 00:17:19.160
Rockefeller Center. This terrifying experienced visitors will journey through ten

349
00:17:19.319 --> 00:17:23.359
chilling rooms, each featuring one of Jimmy Fallon's spine tingling nightmares.

350
00:17:23.640 --> 00:17:26.319
Jimmy Fallons to Nightmares will set a new standard for

351
00:17:26.359 --> 00:17:29.400
haunted experiences in Manhattan, bringing these nightmares to life in

352
00:17:29.400 --> 00:17:32.640
a fully immersive Haunt with terrifying sets, practical effects, and

353
00:17:32.720 --> 00:17:35.440
scarce behind every corner. Direct from the mind of Jimmy Fallons.

354
00:17:35.480 --> 00:17:39.359
This original concept was developed in collaboration with NBC Universal

355
00:17:39.960 --> 00:17:43.240
and some of the design team from Halloween Horn Nights

356
00:17:44.200 --> 00:17:47.559
and the statement here from David O'Connor from the Universal side,

357
00:17:47.599 --> 00:17:49.880
he said, each year we bring Halloween to life in

358
00:17:49.920 --> 00:17:53.880
new and exciting ways across NBCUniversal through Halloween themed content

359
00:17:53.920 --> 00:17:57.359
and experiences, whether it's expressed in our theme parks or

360
00:17:57.400 --> 00:18:00.519
through film and television. We're building on our ritch horror

361
00:18:00.599 --> 00:18:02.359
legacy and we're thrilled to support to me Fallin to

362
00:18:02.400 --> 00:18:05.400
pair his true fandom of the holiday with the expertise

363
00:18:05.400 --> 00:18:07.799
of our company to create this one of a kind experience.

364
00:18:08.119 --> 00:18:11.359
It opens on September twentieth and it runs through Halloween.

365
00:18:11.920 --> 00:18:18.279
The prices begin at thirty six ninety So wow. And

366
00:18:18.319 --> 00:18:20.160
actually I think Scott and I both know a few

367
00:18:20.279 --> 00:18:22.200
folks that worked on it, which we I mean, I

368
00:18:22.200 --> 00:18:23.440
didn't know they were working on it, and then I

369
00:18:23.480 --> 00:18:26.039
was like, oh my gosh, you know, and and it

370
00:18:26.119 --> 00:18:28.640
is it is truly people that I mean, this really

371
00:18:28.720 --> 00:18:34.519
is a I think a collaboration with the folks that

372
00:18:34.519 --> 00:18:36.799
were you know that do have done work for horror

373
00:18:36.839 --> 00:18:37.720
Knights and work on that.

374
00:18:37.799 --> 00:18:41.200
So it really is that I don't know.

375
00:18:41.279 --> 00:18:43.400
I mean, there's a lot of pedigree attached to this.

376
00:18:43.519 --> 00:18:45.480
So there's a lot of pedigree attached to this, correct

377
00:18:45.799 --> 00:18:50.759
And I think, to me, again, this seems again, I

378
00:18:50.799 --> 00:18:53.279
guess back to our theme. It comes all comes in

379
00:18:53.319 --> 00:18:56.680
the execution, But this seems like an excellent idea when

380
00:18:56.799 --> 00:19:02.079
Universal is trying to push that they're opening this you know,

381
00:19:02.160 --> 00:19:03.920
dark universe and this thing coming up.

382
00:19:04.279 --> 00:19:05.839
You know, they're they're trying to they're trying to really

383
00:19:05.839 --> 00:19:08.680
push the horror that they're the experts in horror.

384
00:19:09.000 --> 00:19:10.960
And I think to put a lot of pedigree behind

385
00:19:10.960 --> 00:19:12.839
this and a big brand name and basically make it

386
00:19:12.880 --> 00:19:15.680
a giant PR stunt in New York City right ahead

387
00:19:15.720 --> 00:19:18.640
of the opening of Epic to potentially tap into a

388
00:19:18.680 --> 00:19:22.119
new market and encourage, you know, encourage stuff from that

389
00:19:22.160 --> 00:19:25.680
market and then hopefully to leap frog off of Epic

390
00:19:25.720 --> 00:19:28.200
and to go into the Vegas installation.

391
00:19:28.400 --> 00:19:29.200
I mean, this is.

392
00:19:30.799 --> 00:19:32.240
I mean, and it just came out of left field,

393
00:19:32.279 --> 00:19:34.519
and I think if they could, I think, I think

394
00:19:34.519 --> 00:19:37.400
this is smart, honestly to do to do smaller pop

395
00:19:37.480 --> 00:19:41.960
up kind of experiences in untapped markets where where they

396
00:19:41.960 --> 00:19:44.759
can bring star power into it and go in there

397
00:19:44.839 --> 00:19:48.720
and deliver something, because you know, New York is a

398
00:19:48.960 --> 00:19:51.880
pretty un I mean New York is a prohibitive market,

399
00:19:52.000 --> 00:19:55.000
especially in near in this area the city, because it's

400
00:19:55.000 --> 00:19:58.440
too expensive to get the building and Haunters cannot operate there,

401
00:19:58.480 --> 00:20:01.200
so there really is not a great experience. I mean,

402
00:20:01.240 --> 00:20:03.319
there's Scott and I both know some people that do

403
00:20:03.400 --> 00:20:05.480
operate in that area, but we know it's tough for

404
00:20:05.559 --> 00:20:08.000
them because of the cost and so being able to

405
00:20:08.079 --> 00:20:11.400
come in and do this whole deal it is going

406
00:20:11.440 --> 00:20:13.920
to be an incredible experience for the people in that

407
00:20:14.039 --> 00:20:17.079
area just because of the context of it so well.

408
00:20:17.119 --> 00:20:19.160
And it's it's something that we actually talked a little

409
00:20:19.160 --> 00:20:21.960
bit about. I can't remember where we talked about it

410
00:20:22.039 --> 00:20:24.400
during the show or after the show, but we talked

411
00:20:24.400 --> 00:20:29.039
about the the fact that Universal has this uh there

412
00:20:29.119 --> 00:20:31.759
they are trying to expand and it's it's a whole

413
00:20:31.839 --> 00:20:34.799
lot of and I mean this in a very complimentary way,

414
00:20:35.279 --> 00:20:36.799
it's a whole lot of let's sort of stuff at

415
00:20:36.839 --> 00:20:37.799
the wall and see what sticks.

416
00:20:37.920 --> 00:20:38.079
Yep.

417
00:20:39.319 --> 00:20:41.119
Because they because right now.

418
00:20:41.279 --> 00:20:49.000
With the the massive boost that they have received over

419
00:20:49.039 --> 00:20:54.160
the last several years from the Wizarding World of Harry

420
00:20:54.160 --> 00:20:55.759
Potter and et cetera, et cetera, et cetera.

421
00:20:56.039 --> 00:20:59.039
They got money to spend yep, and they there.

422
00:20:59.079 --> 00:21:01.400
It sounds like they're going, we can do exactly what

423
00:21:01.400 --> 00:21:03.400
we've always done and keep pouring money there, or we

424
00:21:03.400 --> 00:21:05.240
can find these different things to do. The other thing

425
00:21:05.279 --> 00:21:07.480
that I think is interesting is this kind of goes

426
00:21:07.559 --> 00:21:11.799
back to the shack Haunt that was, you know, on

427
00:21:11.880 --> 00:21:15.880
your coast, Philip. It's getting a name who is not

428
00:21:16.000 --> 00:21:20.400
at all affiliated with haunted attractions really, and someone who

429
00:21:20.839 --> 00:21:25.799
is considered to be, you know, maybe just below Taylor

430
00:21:25.839 --> 00:21:29.039
Swift in New York. You know, Jimmy Fallon is loved

431
00:21:29.079 --> 00:21:31.920
in New York. He is revered in New York around

432
00:21:31.960 --> 00:21:35.440
the country as well. But they think he hung the

433
00:21:35.440 --> 00:21:37.559
moon in New York, which I'm not gonna say one

434
00:21:37.559 --> 00:21:40.920
way or the other because I don't know. But I

435
00:21:40.960 --> 00:21:44.079
think this is a very interesting sort of one two

436
00:21:44.240 --> 00:21:49.799
three punch. You know, we know who's at least working

437
00:21:49.799 --> 00:21:52.799
on building it. We know that it's got the support

438
00:21:52.880 --> 00:21:55.200
of NBC Universal. We know that it's not the Jimmy

439
00:21:55.240 --> 00:22:01.839
Fallon name. There is no reason this should fail. Accept

440
00:22:02.079 --> 00:22:05.160
the fact that that New York is a prohibitive market.

441
00:22:05.440 --> 00:22:07.680
Yeah, but I think to your point though, I mean,

442
00:22:07.720 --> 00:22:10.720
they have the partnerships in places secure. I mean, I

443
00:22:10.720 --> 00:22:13.960
guess what I meant more with that it's a prohibitive market.

444
00:22:14.000 --> 00:22:15.839
But just like we talked about when we talked about

445
00:22:15.839 --> 00:22:18.160
how you know bigger companies actually they him and how

446
00:22:18.240 --> 00:22:20.640
over giving into the unions, but they actually want that

447
00:22:20.759 --> 00:22:23.799
because it creates a bigger mode. I mean, if anybody

448
00:22:23.839 --> 00:22:25.960
is going to be successful in this area, it's going

449
00:22:26.039 --> 00:22:28.440
to be universal because they can get the deal on

450
00:22:28.519 --> 00:22:32.160
the building and they can get the contracting there.

451
00:22:32.000 --> 00:22:36.119
But they're also going to have to invest more to

452
00:22:36.440 --> 00:22:38.559
get it to the level of you know, Jimmy Fallon's

453
00:22:38.559 --> 00:22:39.119
getting paid.

454
00:22:39.319 --> 00:22:42.720
So you know, you got to take that into consideration.

455
00:22:43.880 --> 00:22:48.160
And whether it has the excuse me, whether it has

456
00:22:48.480 --> 00:22:52.160
the interest in the city.

457
00:22:53.160 --> 00:22:54.920
This will tell I mean, this will be a test.

458
00:22:55.400 --> 00:22:55.680
Yeah.

459
00:22:55.799 --> 00:22:59.319
That's the other thing too, that the throughput capacity. You

460
00:22:59.319 --> 00:23:02.440
know who knows on that. But honestly, I'm not sure

461
00:23:02.480 --> 00:23:05.240
if that's even the point, even if it were just

462
00:23:05.279 --> 00:23:06.720
for publicity, I.

463
00:23:07.000 --> 00:23:08.799
Think that is very possible that this could be just

464
00:23:08.839 --> 00:23:09.519
for publicity.

465
00:23:09.559 --> 00:23:12.359
And if they you know, if they only, if they

466
00:23:12.400 --> 00:23:17.640
only lose you know, ten to fifteen percent of their investment,

467
00:23:18.279 --> 00:23:20.359
then is that worth the marketing that they got out

468
00:23:20.400 --> 00:23:20.559
of it?

469
00:23:21.480 --> 00:23:23.680
And I just want to draw a little bit of

470
00:23:23.680 --> 00:23:26.640
a larger you know, on that idea of the marketing thing,

471
00:23:26.680 --> 00:23:29.960
a little bit larger context here what you said at

472
00:23:29.960 --> 00:23:34.759
the very beginning about it. So basically, this is again

473
00:23:34.839 --> 00:23:36.519
like we talked about with Epic and with this whole thing,

474
00:23:36.559 --> 00:23:39.680
this whole strategy of like expanding the market, so they're

475
00:23:39.720 --> 00:23:43.480
like reaching into people who maybe would have never considered

476
00:23:43.680 --> 00:23:45.759
going to horror knights, are never considered horror any of

477
00:23:45.759 --> 00:23:49.759
this kind of thing being and live in New York. Yes, yes,

478
00:23:50.160 --> 00:23:52.279
And it's the same thing we talked about that they

479
00:23:52.279 --> 00:23:54.559
did with the Weekend which started this whole thing off

480
00:23:54.640 --> 00:23:57.319
about expanding into non horror things, which by the way,

481
00:23:57.319 --> 00:24:01.440
they are doing again they are doing another weekend Maze,

482
00:24:01.440 --> 00:24:05.599
this time in Hollywood, So they are I mean, I

483
00:24:05.599 --> 00:24:07.559
think this is a strategy and we talked about it

484
00:24:07.599 --> 00:24:10.759
with the whole the whole premise of Epic being you know,

485
00:24:10.799 --> 00:24:14.440
this these micro places where you know, if you're you know,

486
00:24:14.519 --> 00:24:16.160
may not be theme park fans, but your fans are

487
00:24:16.160 --> 00:24:18.279
super Mario, your fans are very potter, You're you know,

488
00:24:18.279 --> 00:24:19.240
your fans of horror.

489
00:24:19.240 --> 00:24:20.319
You're not even fans.

490
00:24:20.400 --> 00:24:21.960
You may not you may be a theme park fan,

491
00:24:22.000 --> 00:24:24.039
but you're not necessarily a fan of all of the

492
00:24:24.160 --> 00:24:27.279
things that are there. You know, it's a very diverse offering,

493
00:24:27.440 --> 00:24:30.960
So this is a way to sort of cross pollinate,

494
00:24:31.039 --> 00:24:33.720
so to speak. You may not be a Hant fan

495
00:24:33.759 --> 00:24:35.359
at all, but you're a fan of Jimmy Fallon, so

496
00:24:35.400 --> 00:24:36.119
you're going to go see it.

497
00:24:36.519 --> 00:24:38.839
Yeah, And I think that's the takeaway.

498
00:24:39.000 --> 00:24:40.680
I would say the takeaway for all of our listeners,

499
00:24:40.720 --> 00:24:43.279
for anybody in this is to really you know, there's

500
00:24:43.279 --> 00:24:45.279
a lot of power in in that. I mean, I

501
00:24:45.319 --> 00:24:48.559
think that too often, I think, especially us in the

502
00:24:48.599 --> 00:24:51.279
Haunt community or as creators or designers. You know, you

503
00:24:51.279 --> 00:24:55.279
you start off with what you think is scarier, what's

504
00:24:55.319 --> 00:24:58.359
classically scarier, whatever. You know, that's just how the brain works, right.

505
00:24:58.720 --> 00:25:01.440
But I think one of something I've said I've heard

506
00:25:01.440 --> 00:25:03.799
Scott teach a few times in classes that I like

507
00:25:03.880 --> 00:25:06.039
to think about is like you can take anything and

508
00:25:06.079 --> 00:25:09.240
then just add and went terribly wrong, and then you

509
00:25:09.359 --> 00:25:11.960
got the horror thing. So like anything can can fit

510
00:25:12.039 --> 00:25:15.160
into that vein, and that's what makes horror so incredible,

511
00:25:15.319 --> 00:25:18.240
incredible as a as an art form. And I think

512
00:25:18.279 --> 00:25:22.440
that for our listeners that is something to consider. Is

513
00:25:22.640 --> 00:25:27.319
just there again, this concept of reaching into untapped markets.

514
00:25:27.319 --> 00:25:29.880
I think it's not just universal that can do it.

515
00:25:29.920 --> 00:25:32.039
Anybody can do it well.

516
00:25:32.039 --> 00:25:37.440
And I think that it's also a plus B equals profit.

517
00:25:37.599 --> 00:25:40.799
Maybe I don't know, because there're two somewhat unrelated things,

518
00:25:41.240 --> 00:25:43.519
and and got to go back and say it again,

519
00:25:43.599 --> 00:25:46.359
all comes down to execution. Execution, Yeah, is it is

520
00:25:46.359 --> 00:25:47.960
it going to look like? Is it going to look

521
00:25:48.000 --> 00:25:50.599
like walking through a Halloween trade show? Or is it

522
00:25:50.640 --> 00:25:53.559
going to be a cohesive haunt And we'll.

523
00:25:53.319 --> 00:25:56.039
See yep, speaking of.

524
00:25:57.680 --> 00:25:59.880
Same things we're talking about, but especially like we'll see

525
00:26:00.440 --> 00:26:04.720
USJ is experimenting with the first ever Halloween Horror Night,

526
00:26:04.880 --> 00:26:08.000
all night event. I don't know about this. We don't

527
00:26:08.000 --> 00:26:10.400
really have too many details. I'm not sure there are

528
00:26:10.440 --> 00:26:12.960
ever going to be details, honestly, but basically from what

529
00:26:13.039 --> 00:26:15.160
I can tell, it is a one night event that

530
00:26:15.319 --> 00:26:17.359
starts in the evening I think at like five PM

531
00:26:17.440 --> 00:26:19.920
or something and it goes or it starts I think,

532
00:26:19.960 --> 00:26:22.240
oh sorry, it starts at ten pm and it goes

533
00:26:22.279 --> 00:26:28.279
to like five am, and essentially it's just Halloween Horror Nights,

534
00:26:28.400 --> 00:26:30.880
but all night. And then there are some you know,

535
00:26:30.880 --> 00:26:35.200
there's an exclusive lanyard or something, and there's I think

536
00:26:35.240 --> 00:26:37.400
there is an exclusive show that is only going to

537
00:26:37.480 --> 00:26:41.920
happen that night, but the rest will be so it

538
00:26:41.920 --> 00:26:44.119
says you're an extra special Halloween theme show will take

539
00:26:44.119 --> 00:26:47.640
place at water World, which sounds like something we have here,

540
00:26:47.960 --> 00:26:51.599
and they'll get a collectible badge, but everything else will

541
00:26:51.640 --> 00:26:53.279
be the regular offerings from horror Nights.

542
00:26:53.319 --> 00:26:54.440
They'll just be all night.

543
00:26:54.839 --> 00:26:56.720
And the thing is, this is going to be a

544
00:26:56.759 --> 00:26:59.279
hard ticket, so it's going to be an extra cost

545
00:26:59.680 --> 00:27:03.079
for this, which you know USJ normally does not charge

546
00:27:03.079 --> 00:27:04.960
for Halloween. It just happens every day, is part of

547
00:27:04.960 --> 00:27:07.799
the regular, regular park. And a lot of that does

548
00:27:07.880 --> 00:27:09.599
have to do with the fact that so many people

549
00:27:09.640 --> 00:27:11.519
relying on public transit there and the transit does not

550
00:27:11.599 --> 00:27:13.160
run late, so they kind of like they have to

551
00:27:13.200 --> 00:27:13.839
close early.

552
00:27:13.880 --> 00:27:16.279
They can't really run late. So this I don't know.

553
00:27:16.359 --> 00:27:19.000
I mean, again what you said earlier, a lot of

554
00:27:19.000 --> 00:27:21.200
different things are trying to see what sticks. And you know,

555
00:27:21.559 --> 00:27:24.640
one way to get around the subway thing is to

556
00:27:24.759 --> 00:27:27.720
do it all night because by the time people can leave,

557
00:27:28.160 --> 00:27:30.240
you know, this train start running at six am.

558
00:27:30.559 --> 00:27:33.440
So they just have to stay in the park basically.

559
00:27:32.960 --> 00:27:36.680
From that time ten to six and then they can

560
00:27:36.759 --> 00:27:38.240
get home on the subway lock in.

561
00:27:38.799 --> 00:27:41.480
You know, it's like a high school lock in where

562
00:27:41.480 --> 00:27:44.039
you know, they used to put us all, put us

563
00:27:44.039 --> 00:27:46.599
all in the gym and we there'd be a party

564
00:27:46.640 --> 00:27:48.720
sleepover at the at the high school, and then you'd

565
00:27:48.759 --> 00:27:50.839
be let out in the following morning. And this is

566
00:27:50.880 --> 00:27:53.839
just a lock in brought about because of public transit. Uh.

567
00:27:54.079 --> 00:27:55.680
You know, I think it is interesting.

568
00:27:55.759 --> 00:27:59.640
I again, I think the real takeaway here has nothing

569
00:27:59.680 --> 00:28:02.079
to do with Halloween. I think the real takeaway here

570
00:28:02.359 --> 00:28:06.400
is take something that you do and you do well,

571
00:28:07.000 --> 00:28:09.519
and then do it at a different time, do it

572
00:28:09.519 --> 00:28:11.720
in a different way, do it targeting a different audience,

573
00:28:12.039 --> 00:28:16.000
and it creates really a marketable product. Now we'll see

574
00:28:16.000 --> 00:28:18.079
how well this flies. I you know, I may be

575
00:28:18.119 --> 00:28:23.559
eating my words in a few months, but it I've

576
00:28:23.599 --> 00:28:25.319
talked to a lot of people about this here in

577
00:28:25.359 --> 00:28:27.400
the States and they're like, oh, I wish they'd do

578
00:28:27.480 --> 00:28:28.039
it in Florida.

579
00:28:28.559 --> 00:28:30.160
I wish all night long in Florida.

580
00:28:32.039 --> 00:28:33.759
So it kind of already goes all night long, though,

581
00:28:33.799 --> 00:28:36.319
I mean it ends at two am and then stuff

582
00:28:36.359 --> 00:28:38.839
is open till three. I mean three to six is

583
00:28:38.880 --> 00:28:41.000
only a few hours.

584
00:28:40.920 --> 00:28:43.279
I know, but they don't. But again, it's not being

585
00:28:43.279 --> 00:28:44.400
marketed as all night long.

586
00:28:44.559 --> 00:28:46.400
Yeah, you know, it's.

587
00:28:46.279 --> 00:28:50.839
Not being marketed as here's the here's the experience. I

588
00:28:50.880 --> 00:28:54.119
would actually play up the fact that you know you

589
00:28:54.119 --> 00:28:55.880
you quote unquote can't leave.

590
00:28:57.039 --> 00:28:58.920
I would make it. I would make that part.

591
00:28:58.720 --> 00:29:02.400
Of the creative and part of the thematic for the

592
00:29:02.440 --> 00:29:06.799
event is that you are trapped. But I know that

593
00:29:07.079 --> 00:29:10.000
some people wouldn't take that nearly as tongue in cheek

594
00:29:10.000 --> 00:29:11.039
as I would intend it.

595
00:29:11.119 --> 00:29:14.720
But yeah, well it is. I think it's a different culture.

596
00:29:14.720 --> 00:29:16.559
But yeah, you're right, and just coming looking at the

597
00:29:16.599 --> 00:29:18.880
constraints you have in an environment and figuring out how

598
00:29:18.880 --> 00:29:20.440
to do what you do well but with the constraint

599
00:29:20.480 --> 00:29:22.960
and make it fun. I mean, because it's hard to

600
00:29:23.000 --> 00:29:25.759
explain to the US people the transit and how it's

601
00:29:25.799 --> 00:29:28.519
a thing. But the thing is a lot of cars

602
00:29:28.519 --> 00:29:30.319
are very expensive in Japan and most people do not

603
00:29:30.400 --> 00:29:33.680
have them, especially in these mantro areas. Number two, you

604
00:29:33.720 --> 00:29:36.039
can take a taxi in Uber. People always ask me that,

605
00:29:36.440 --> 00:29:40.160
but it is maybe ten times as expensive as it

606
00:29:40.200 --> 00:29:41.839
is in the US. Like it is not a cheap thing.

607
00:29:42.200 --> 00:29:44.920
I mean, so getting home from this could cost you

608
00:29:45.359 --> 00:29:48.119
hundreds of dollars if you're ubering or taxing. It's like,

609
00:29:48.160 --> 00:29:51.240
it's not a cheap thing. And that's US dollars, not

610
00:29:51.319 --> 00:29:53.319
like you know, Japanese yen. So it's a lot of

611
00:29:53.440 --> 00:29:55.119
it's more than the cost of the event would be

612
00:29:55.200 --> 00:29:58.039
to get away from it, you know. And the transit

613
00:29:58.079 --> 00:30:00.960
really only runs until ten to eleven, and so really

614
00:30:01.079 --> 00:30:05.480
like it just it's an environment where it's hard to

615
00:30:05.519 --> 00:30:08.759
do a Halloween event and this could be again it

616
00:30:08.799 --> 00:30:10.480
could be a solution then, but then they can do

617
00:30:10.519 --> 00:30:12.960
this for Christmas, I mean, do it for anything really.

618
00:30:12.920 --> 00:30:16.640
If they were, that's right, that's right, Well, you know,

619
00:30:16.720 --> 00:30:18.799
I think I think one of the things we talked

620
00:30:18.839 --> 00:30:21.720
we started the show by saying what our mentality was

621
00:30:21.880 --> 00:30:23.640
as far as what we would do and why we

622
00:30:23.759 --> 00:30:26.079
stick to the format that we stick to, and that

623
00:30:26.119 --> 00:30:28.680
includes our time we do, say theme parking thirty and

624
00:30:28.960 --> 00:30:31.799
because we want to make it always digestible on a

625
00:30:31.799 --> 00:30:33.839
weekly basis, and that means that we're done.

626
00:30:33.960 --> 00:30:35.640
That means our time is up for this week.

627
00:30:35.960 --> 00:30:39.440
And thank you all once again for sticking with us,

628
00:30:39.720 --> 00:30:41.720
and for Terry for coming up and talking to us

629
00:30:41.720 --> 00:30:43.839
every time you see us out. We really do appreciate

630
00:30:43.839 --> 00:30:47.319
that and for sharing your thoughts and your comments. Please

631
00:30:47.359 --> 00:30:50.160
recognize that even if you feel as though we are

632
00:30:50.200 --> 00:30:53.480
saying something that is negative, it is not meant to

633
00:30:53.519 --> 00:30:57.319
be negative towards any individual. It is our perception of

634
00:30:57.400 --> 00:30:59.519
how we see the industry, because the whole reason that

635
00:30:59.519 --> 00:31:01.519
Philip and I do this show is because we love

636
00:31:01.559 --> 00:31:03.000
this industry and we want to make sure that it

637
00:31:03.000 --> 00:31:07.440
continues to grow and continues to be successful. So if

638
00:31:07.480 --> 00:31:09.240
you feel the same way, hopefully we will see you

639
00:31:09.279 --> 00:31:12.839
next week on green Tag Theme Park in thirty