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From our studios this week in Los Angeles and Tampa.
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This is green Tag to Theme Park and thirty. I'm
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Philip and I'm joined as always on my co host
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Scott Swinson. Scott Swinson Creative Development. On green Tag, we
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look at the top news each week and explain why
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it matters to theme park professionals. And this week we're
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going to do things a little bit differently. This is
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our first show of twenty twenty six and it's a
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slow news week, so we're taking the approach of doing
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sort of like a state of the industry or a
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SWAT analysis on what's going on in the industry. And
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this has been something I've been working on as part
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of our strategic planning for Gantum is looking at the
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industry and thinking of this so I think it hopefully
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will help those of you that are in the industry
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working professionals think about what's going on in the industry
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from the standpoint and how can you incorporate that into
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your planning for this next year. And in our Patreon show,
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we're going to so this part we're going to talk
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about the SWAT itself and what's going on from the
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strengths and weaknesses and the opportunities and threats in the
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attraction's industry. And then the Patreon show we're going to
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be like what are we going to do about them?
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And we'll share some examples from both of our businesses
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and yeah it'll be fun.
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Yeah.
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So basically, you guys get you guys get all of
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the background, the leg work, or at least starting a
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leg work, you know. And the other thing too that
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I think is really important is as you're as you're watching,
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as you're listening, go ahead and make those comments, whether
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you agree with us, disagree with us, have a different
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point of view, different reference, because again that's the purpose
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of this show.
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Yeah.
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You know, Philip and I when we do our pre
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show prep, we always have discussions back and forth about
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how scripted does this need to be? Or how scripted
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should it be? And we actually find that in many
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cases a lot of the the interest in our shows
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comes from our discussion and our and our differing points
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of view. Now that doesn't happen too often. In fact,
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sometimes we get posts saying I don't like it when
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Daddy and Daddy fight.
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But the.
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Flip side of it is it goes back to our
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soul purpose of the show, and that is to keep
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the discussions open, to ask all the right questions, and
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to hopefully save you a little bit of time. Because
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Philip does all the research, you know, so he does
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all the hard work, so hopefully you can use all
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of that to help make plans for this coming year
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and of course further down the road as well.
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Yep.
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So so in keeping with that sphere that Scott's talking about,
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we did think about sorting them pre sorting them into
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the swat buckets, but then we decided not to. And
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the order there in is actually just the order that
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I kind of like have brain dumped them that I've
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been working on. I've been notating this all through the
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past week. I've been thinking about what are the biggest
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things to talk about, and so they're all just kind
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of listed.
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So we're just going to start so well, and I think.
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And I think listing them is important, but I think
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to provide some sort of a format, I think let's
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let's start with what are those things, Philip that you
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think are the strength.
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Let's just go straight through the.
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Swat and that way everybody can follow where our heads
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are at, and that way they're not you know, pre.
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Organized, because some of the things that you might feel
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are strengths, I.
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May think are either weaknesses, obstacles, or potentially even threats. Yeah,
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so currently, let's look at what we consider the strengths
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of the industry right now.
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So I did kind of start off with some of
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the strengths, and I think that there are two. Well,
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one of course, is that there are still new openings
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happening around and there's some major projects on the timeline.
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And I think that to me, that's the biggest strength
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is just showing that Okay, these these things are still
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there's still new construction happening, new things happening. I have
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here as my number one capital flowing away from the US,
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which is one of those that I had kind of
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thought of it as a strength because I was thinking
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it shows that there's international interests and it shows that
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there's expansion plans. But I think it could also be
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an opportunity or threat or weekends. It could be any
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of these, but all the buckets.
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Yeah, So for me, it's interesting because I think that yes,
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good big capital investment is I think a strength for
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the industry overall. Yeah, where that capital investment is going
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I'm not sure whether that's a strength or a weakness
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if you operate primarily in.
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The United States.
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Yeah, because it kind of shows that the interest. Yes,
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there is still the Texas Park, there's still the Texas
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Universal Park that is that's coming. There are still there's
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still projects that are happening in the US, but most
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of the big announcements have been either in Europe or
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the Middle East.
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That's right.
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Yeah, to to recap because I was thinking that when
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I was making my list, so I kind of recap
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some of the stuff we're most excited about. This is
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not an exhaustive list, by the way, everybody listening. It's
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just some of the things that Scott and I are
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most excited about that we have talked about.
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We talked about the.
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New Dollywood night time Halloween event. We talked about the
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Universal Kids Resort. We talked about the Netflix House expansions,
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not just in the the two cities are already in,
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but also going to Vegas. We talked about a lot
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of the coasters that are coming, especially the some of
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the more fun ones, you know, like the there's the
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Galacta coaster, going to the Lego Land Parks, There's the
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Muppet Redo, the rock and Roller coastert starring the Muppets,
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There's the Six Flags Parks have a slew of things
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coming out, even though that one was delayed at Mountain Right.
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But then there's also the night Flight Expedition at at Dollywood,
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which we were very both very excited about. So that's
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you know, then, plus there's the one in coming to
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Hollywood opening here Universal Studios Hollywood. But then when you
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look at like the big big things that we have,
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like that I have in Gantum's strategic plan is.
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Like the big things to pay attention to.
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It's Disney Abu Dhabi, It's Universal UK, it's Universal Saudi Arabia.
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It's the Harry Potter at Lego Land Germany because Merlin
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said it will be the single largest investment into an
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existing site, So there's that sounds really big. It's the
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Harry Potter Land, a plan for Warner Brothers World, and
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it's the Pokemon theme park that's opening in Japan. So
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literally everything that's in terms of big big things that
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I have on my list are like not happening in
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the US.
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Well, and I think we also have to include there,
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even though it has opened already it's going to continue
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to open and draw a great deal of attention, and
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that is Kadia City. Yeah, you know, we've got the
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six flags Kadia City as well as Aquaabia which will
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be opening very shortly as well.
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And Disney Adventure World, which is the reopening over there
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in Paris. So it's kind of like when you look
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at the scale, I think it's like there's stuff that
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we're excited about, but there's also the stuff that like
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what belongs on a strategic plan in terms of having
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to align, And that's what we were thinking about Agantum
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is where like, Okay, we have to be ready to
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be servicing these projects where they are and none of
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the big things, Like I mean, I'm sure that we'll
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do some work on some of these smaller projects, but
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the big things, it's going to be those. It's going
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to be all the Middle East and Europe. And then yes.
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From and from a from a consultant standpoint, from an
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outside creative standpoint, I actually look at this variety as
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a strength in the fact that there are giant projects
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that if you know, if you're not on already, chances
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are good you won't be brought onto until the tail end,
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and I'm talking about me and things that I do.
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The flip side of that is some of the smaller
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projects maybe right maybe right size for different different different
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outside contractors, different creatives, different vendors. So I think the
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biggest strength that we're going to sort of sum it
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all up, I think the biggest strength right now in
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the industry is there is growth, and there is growth
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in many, many different areas and many many different ways,
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because it's not just the megaparks that are being announced
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outside of the US. Museums around the world are having
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a rebirth.
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You know, on the rise.
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That's that's my second item on here is the museums
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on the rise. And we saw that in the Theme
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Entertainment Association report that came out where you saw but
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it it really was on the rise more. The US
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museums saw a great year, but other countries like China, Asia,
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the Asia area saw better years than the US.
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So it's the same type of trend.
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Where it is a trend overall, it's a bigger trend
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of their places, and a lot of it has to
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do with the extreme weather, but also with their ability
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to pivot into I guess more exciting. Like a great
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example of this is the Franklin Institute opening up the
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Universal Park's Exhibition, which.
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Is happening next year in twenty twenty six.
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I know several people that have worked on that, and
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that's a good, good example, right of.
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The team at Franklin likes to they know they're a
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science museum, but they like to think of themselves as
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a theme park anyway, So they like to have that.
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They're so good at incorporating the fun in the factual,
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and so it makes total sense that they are the
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ones doing this. They're the ones who kicked off the
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touring Harry Potter Museum exhibition. They're they they're the ones
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who I believe started the Crayola Creativity exhibition as well.
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So they're really good at bringing in those those touring
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exhibitions and giving them a place to start and kind
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of learn how to to work things out because they recognize, oh,
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this is new, this is cool, and they also recognize
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that if this is fun, it also brings in, brings
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in guests and encourages subscriptions.
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So yeah, so I think, yeah, Museums on the Rise
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is I think a pretty big strength both of these
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in terms of the capital and what's opening, and the
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museums are also on our list for gantum as opportunities
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as well, because for us we do have like for example,
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we have fixtures that are have been used in museums,
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but there's a lot that we could do to make
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it better ease of use for museums, and so that's
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a thing we have to consider. And then, like I
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said before, in terms of being in the right place
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or being ready to service the large projects when when
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they start going into their purchasing phases internationally, will be
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a big thing.
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So multibuck. Okay.
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So the next thing I have on here is something
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that Scott always talks about. It mainly because Scott talks
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about I put on here is the death of the
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traditional large theme park, which apparently there was also over
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at Theme Park Insider. They had a whole thread about this.
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So I think maybe Scott, you're you're.
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Am either pissing people off or I'm I'm prognosticating the future.
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I don't know, but I also read and I have
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not I have not confirmed this information, but I've also
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read a couple of different articles that say attendance during
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the Christmas week here in Florida was not what it
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was anticipated to be yep. And and the they kind
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of broke it down in a couple of the articles.
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They actually broke it down to say that part of
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it is because with the economy the way it is,
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people are afraid to do a lot of holiday travel.
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And secondly, of course the holiday season is when they
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block out all their passholders, so it's it's kind of
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a double edged sword. And I've heard two different reports.
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One was a published article and one was from someone
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I know who actually went during Christmas Week, went to
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Magic Kingdom, well Disney World during Christmas Week, and they
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said the crowds were just simply not there yep. So
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so I think it's interesting to see how this is
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all playing out because at the same time, the same
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people said the parks.
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Were empty, but Disney Springs was packed.
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That's right. So we talked about this a few weeks ago.
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When we talked, we did our like looking at that
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report about what gen z and millennials want when they
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travel in twenty twenty six. But I think it's all
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wrapped into Scott's theory about the the kind of like
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the death the large make a park and again, it's
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all the same. These all line up right where it's
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like you're going to avoid the crowds because you don't
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why why are you bothering to wait? It?
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All?
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This kind of like like the allure of we have
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to wait four hours for this thing is kind of
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like dying out. And then also value people of the
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invariant value minded all that the creature comforts, all these
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all these trends seemed to be kind of combining, and
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we talked about this also a lot, about how that
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the Netflix house model could be precisely poised to kind
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of take some of that.
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But there's also the museum. I mean, I think this
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all related.
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I think that's why museums are on the rise, because
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it's again, you're unless you're the louver, you know, then
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then you're kind of yeah, that's a whole other thing.
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But they just didn't they just didn't pay attention, you know,
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they were not they did not recognize the strength that
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they had, which was the incredible collection. But they they
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ignored their weaknesses or their obstacle, which were the fact
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that they the building was falling apart and that the
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staff was miserable, and that there was security sucked. You know,
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there was a lot of problems that they had, you know.
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And but I just want to say before people, I
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can hear people, even though we haven't released the episode yet,
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I can hear people typing their comments. So Scott doesn't
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know what he's talking about when he says that the
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mega parks are dead. They're not dead. They're not going
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to go away completely. They're just not going to be
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in my opinion, and based on what I'm seeing, they're
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not going to be the monoliths or the mega monsters
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that they once were. And I think that the way
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that some of these big parks are going to stay
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with their head above water and continue is by glomming
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onto the exact right eyeps and the thing that I
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would concern that I would warn them about. And I
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think we're starting to see that. I know we're starting
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to see that in tiny ways here in Florida. A
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lot of the for example, a lot of the Disney
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perks that were pulled when they felt that they could
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do no wrong and do no harm are starting to
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eke back in. So I think value is something that
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they are recognizing. I think, let me put it this way,
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I think the masterminds of people much smarter than I
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am in the big parks are starting to see this
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as well, and they're starting to recognize, we've got to
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we've got to make it so that we don't have
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to deal with huge crowds.
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We don't have to.
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You don't have to take out a mortgage on your
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house to take your family on vacation.
301
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You know.
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00:14:31.840 --> 00:14:33.519
I think they're starting to recognize that.
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Well, maybe it's just right sizing. Maybe that's it. Maybe
304
00:14:38.000 --> 00:14:38.679
it's just right.
305
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Sizing after you know, being introl in charge for so long.
306
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So I think that could be Again, it's the same
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thing as it could be an opportunity, or it could
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be a threat.
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It could be any of the things. It can be.
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It depends on if you're what you are. Yeah, it
311
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depends on if you're working.
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For a giant park. It could be an it could
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be a threat, or it could be an obstacle.
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That's right.
315
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Yeah, And I had right under that, I had creature comforts,
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which I think exactly ties into exactly what you were saying,
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because it's the same thing where it's like a lot
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of what we heard in that report and then and
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a lot of the comments are the same thing creature comforts,
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Like I remember the locker person being like mandatory four
321
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dollar lockers for Quasi, and it's like there are just
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are things that it's like, if you think about it,
323
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you're like, why why would I loved reading those comments
324
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actually when we did that episode, because you get a
325
00:15:31.399 --> 00:15:33.399
lot of the same perspective of people who are like,
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I'm already stressed from work and a whole week, and
327
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why am I gonna add extra stress? So the creature,
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like having good access to good food is something everyone's
329
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talked about, but I think we're still not.
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Getting there.
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So all of those things, in my opinion, are on
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the top of the opportunities list. Yeah, increasing increasing good
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culinary not making guests feel as tho they're nickeled and dimed. Yeah,
334
00:15:59.360 --> 00:16:02.440
And there's ways to do that, excuse me, without losing revenue.
335
00:16:02.720 --> 00:16:05.519
You know, there's ways to do that without losing overall
336
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income for the park. You just move it around and
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you you know, you recognize I always I always recommend
338
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to my clients, for example, if you are doing a
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seasonal event where you do a daytime product and then
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00:16:22.440 --> 00:16:26.039
a separate ticketed nighttime event, the smartest thing you can do,
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00:16:26.279 --> 00:16:30.600
in my opinion, is to include your parking fee in
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the ticket so that you can advertise this ticket includes parking.
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00:16:35.120 --> 00:16:36.759
And the reason for that is when you're trying to
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change out, you know, in an hour or two hour
345
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time slot where you're trying to change out all of
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your day guests and your incoming nighttime guests, the last
347
00:16:45.200 --> 00:16:46.480
thing you want to do is have a backup in
348
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the parking lot, so you know, and people are like, well,
349
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we can't afford to lose that money, and my response
350
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is how many people are in most cars? Say there's
351
00:16:54.879 --> 00:16:58.000
an average of three people per car. Okay, what is
352
00:16:58.000 --> 00:17:01.360
your parking thirty dollars? Great, add to each ticket and
353
00:17:01.399 --> 00:17:04.359
make it free parking. Guests are not going to notice.
354
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They're going to go, look, I got free parking on
355
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this event.
356
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That's great.
357
00:17:11.079 --> 00:17:13.000
It's just going to come back to you in another way.
358
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They're going to buy food and beverage, or they're going
359
00:17:15.279 --> 00:17:17.079
to buy operationally.
360
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Operationally.
361
00:17:18.039 --> 00:17:20.480
It helps you because you don't. It's everybody and it's
362
00:17:20.519 --> 00:17:21.000
so annoying.
363
00:17:21.039 --> 00:17:24.640
But anyway, I my favorite example of this is still
364
00:17:24.759 --> 00:17:28.440
Hershey Park because I think their Halloween event is exactly
365
00:17:28.440 --> 00:17:31.519
everything we've just talked about because it's included for annual
366
00:17:31.519 --> 00:17:34.519
pass holders, which includes you know, it's it's seamless for
367
00:17:34.799 --> 00:17:37.319
annual passholders where they can.
368
00:17:37.759 --> 00:17:40.039
Enjoy just more. They just get more.
369
00:17:40.359 --> 00:17:44.279
You just coming during Halloween season, you just get more
370
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as an annual passolder there at Hershey Park. And then
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they also really really invested in culinary to create a
372
00:17:52.039 --> 00:17:55.839
tasting card and create dishes at all of their places
373
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that are kind of a little bit more in depth,
374
00:17:58.880 --> 00:18:02.119
more complex, right, And they have the new eatery, the
375
00:18:02.200 --> 00:18:05.000
Chocolate Town area, the new Spirit Bar, they have the
376
00:18:05.000 --> 00:18:08.119
new bar with mocktails. Like I think they're basically checking
377
00:18:08.160 --> 00:18:11.160
off every opportunity and they're finding a way to make
378
00:18:11.200 --> 00:18:16.720
it work in a larger park situation, not a mega park,
379
00:18:16.799 --> 00:18:18.119
but you know, a large park.
380
00:18:18.200 --> 00:18:20.240
Well, and what we just talked about with the mega parks,
381
00:18:20.279 --> 00:18:23.079
they're kind of sneaking back in those opportunities. There's this
382
00:18:23.200 --> 00:18:26.319
opportunity to you know, and it's little things, but it's creature,
383
00:18:26.359 --> 00:18:30.680
comfort things, you know. It's transportation, they're increasing improving transportation.
384
00:18:30.799 --> 00:18:35.079
They're they're making transportation more accessible. They're finding ways to
385
00:18:35.079 --> 00:18:39.599
to get guests into I mean anything, you can do
386
00:18:39.680 --> 00:18:42.319
anything This is just to think about as an opportunity
387
00:18:42.319 --> 00:18:45.039
for your own industry, for your own business. Anything you
388
00:18:45.079 --> 00:18:47.799
can do so that your customers, your clients, or your
389
00:18:47.839 --> 00:18:51.799
guests feel as though their life is simpler because they
390
00:18:51.799 --> 00:18:54.799
do business with you, right, is an opportunity.
391
00:18:54.839 --> 00:18:56.039
That's right, That's right, that's right.
392
00:18:57.160 --> 00:19:00.720
Okay, So next I have here the K shaped economy
393
00:19:00.880 --> 00:19:08.240
and how it's impacting design and sales. Well, I put
394
00:19:08.279 --> 00:19:11.079
and sales for me. Maybe you'd call it something different,
395
00:19:11.559 --> 00:19:15.759
but for our company. So basically, I think we talked
396
00:19:16.079 --> 00:19:18.799
I think this is also a little bit maybe it's
397
00:19:18.799 --> 00:19:20.640
all related to what we just talked about, but you know,
398
00:19:20.640 --> 00:19:21.839
we've been talking about.
399
00:19:21.599 --> 00:19:22.000
This for a while.
400
00:19:22.039 --> 00:19:23.680
It's been happening in America, at least for a while.
401
00:19:23.720 --> 00:19:25.880
It's just the idea of the case shaped or you
402
00:19:25.920 --> 00:19:27.319
have more on the bottom and more on the top.
403
00:19:27.720 --> 00:19:30.920
And I think we're definitely seeing that as a manufacturer,
404
00:19:31.000 --> 00:19:33.440
because we're seeing that, you know, you have the whole
405
00:19:33.440 --> 00:19:37.000
Haunt industry and those FECs and all the local people
406
00:19:37.079 --> 00:19:39.839
that are making their own purchases potentially like they have
407
00:19:39.880 --> 00:19:41.839
an on the handy, they have one on stap person,
408
00:19:42.279 --> 00:19:45.920
or they're already trying to you have all that stuff,
409
00:19:45.960 --> 00:19:48.519
and then you have the Disney universal kind of people.
410
00:19:48.599 --> 00:19:52.440
For for us at least where they're not, price is
411
00:19:52.519 --> 00:19:56.160
never an issue, it's more so's so almost the problems
412
00:19:56.160 --> 00:19:58.359
these two people face are really different from from our
413
00:19:58.400 --> 00:20:02.440
standpoint because on the on the bottom end, it's really
414
00:20:02.559 --> 00:20:05.079
value driven. It's really like how much can we do
415
00:20:05.160 --> 00:20:08.720
with the budget that we have? And on the upper end,
416
00:20:09.200 --> 00:20:12.920
it's actually more about like the ease of operation. It's
417
00:20:12.920 --> 00:20:16.440
more like how easily can this integrate? Like they don't
418
00:20:16.480 --> 00:20:19.400
want the bunch of labor to fix stuff, they don't
419
00:20:19.400 --> 00:20:21.039
want it to go wrong. They don't want all this stuff.
420
00:20:21.039 --> 00:20:24.279
They want like ease of operation and ease of implementation,
421
00:20:24.920 --> 00:20:28.920
and so it is really almost different product lines. But
422
00:20:29.119 --> 00:20:31.039
when then when you think about it, you extend that
423
00:20:31.079 --> 00:20:35.680
out and you think about it as like guests also
424
00:20:35.759 --> 00:20:38.119
going to it. I think it's basically what we talk about,
425
00:20:38.119 --> 00:20:40.240
like you know, you know what your guest is and
426
00:20:40.279 --> 00:20:43.880
where they're at and how much value versus.
427
00:20:43.680 --> 00:20:46.160
How much like the time and the like hitting the
428
00:20:46.200 --> 00:20:48.759
line stuff matters to them. And I think that with
429
00:20:48.839 --> 00:20:51.519
how I translated to guests versus us, which is B
430
00:20:51.559 --> 00:20:51.759
to B.
431
00:20:52.839 --> 00:20:54.759
Yeah, I think that. I think you're exactly right. I
432
00:20:54.759 --> 00:20:58.960
think you have to recognize here's going back to a
433
00:20:58.960 --> 00:21:02.119
phrase that has been used in my corner of the
434
00:21:02.119 --> 00:21:03.240
industry for many, many years.
435
00:21:03.279 --> 00:21:04.680
You got to shoot where the ducks are flying.
436
00:21:04.960 --> 00:21:08.720
So you have to recognize that there are those high
437
00:21:08.799 --> 00:21:11.680
end people who want what they want, and they want
438
00:21:11.720 --> 00:21:18.119
the velvet rope experience. They want the ability to not
439
00:21:18.279 --> 00:21:20.319
have to wait in queue. They want the ability to
440
00:21:20.720 --> 00:21:24.759
again make their lives as smooth as possible. I noticed
441
00:21:24.759 --> 00:21:28.559
this especially when I was doing work in China. When
442
00:21:28.640 --> 00:21:31.799
doing work in China, they know how to do VIP
443
00:21:32.839 --> 00:21:38.960
so incredibly well. And it's it's interesting because the same
444
00:21:39.039 --> 00:21:42.000
is true in the Middle East. But because of the culture,
445
00:21:42.759 --> 00:21:46.200
they get how to do that upper echelon. They've got
446
00:21:46.240 --> 00:21:50.519
that top top tier of financial spend. They've got that covered,
447
00:21:50.519 --> 00:21:52.079
they've got it worked into their plans, and it's not
448
00:21:52.119 --> 00:21:54.319
something they have to create on the fly. It's something
449
00:21:54.319 --> 00:21:57.880
that exists in their business model that you know, we've
450
00:21:57.920 --> 00:22:03.759
got one point three percent of the million dollar club,
451
00:22:03.880 --> 00:22:06.839
you know, that's the people that we But so they
452
00:22:06.920 --> 00:22:09.319
just plug it in so they don't lose that high
453
00:22:09.400 --> 00:22:13.000
end revenue. They also have things that are accessible for
454
00:22:13.359 --> 00:22:16.440
the opposite end of the scale, so that everyone has
455
00:22:16.440 --> 00:22:20.640
the opportunity or both ends of the of the economy
456
00:22:21.000 --> 00:22:26.000
has the opportunity to participate in your parks. But it's
457
00:22:26.079 --> 00:22:28.960
not something that you have to drastically reduce at the
458
00:22:29.039 --> 00:22:32.079
last minute. Work it in, think ahead of time. That's
459
00:22:32.119 --> 00:22:35.759
the whole purpose of doing a swad analysis. So whatever
460
00:22:35.880 --> 00:22:38.519
your industry is, whether it's got you know, it may
461
00:22:38.519 --> 00:22:40.599
not have any super high end, or it may have
462
00:22:40.640 --> 00:22:44.039
not any not have any super low end. But don't
463
00:22:44.079 --> 00:22:45.519
just think I'm going to aim for the middle and
464
00:22:45.599 --> 00:22:48.279
it's going to satisfy everyone, because that is becoming less
465
00:22:48.279 --> 00:22:51.319
and less the truth based on the way the economy
466
00:22:51.359 --> 00:22:51.559
is going.
467
00:22:51.680 --> 00:22:53.119
Right now, that's right, that's right.
468
00:22:53.319 --> 00:22:55.319
I think if it is saving money versus saving time,
469
00:22:55.880 --> 00:22:57.839
and you got to think about like what do your
470
00:22:57.880 --> 00:22:59.400
guests want. Do they want to save money or do
471
00:22:59.400 --> 00:23:02.720
they want to save time? And how what percentage of it?
472
00:23:03.119 --> 00:23:06.799
And also it could mean abandoning it and I don't
473
00:23:06.799 --> 00:23:09.599
want to againt them. We thought about this a lot,
474
00:23:09.599 --> 00:23:12.839
and especially with the tariffs impacting us quite heavily, we
475
00:23:12.960 --> 00:23:16.119
really had to be like we have tried as much
476
00:23:16.160 --> 00:23:19.039
as we can to reduce costs, and we've made a
477
00:23:19.079 --> 00:23:22.880
lot of progress. I think we've actually reduced costs maybe
478
00:23:23.000 --> 00:23:24.039
twenty to thirty percent.
479
00:23:24.400 --> 00:23:26.240
So we're trying to balance that. We're doing a lot
480
00:23:26.279 --> 00:23:27.039
of stuff to do that.
481
00:23:27.160 --> 00:23:29.799
But at the same time, the way that you have
482
00:23:29.839 --> 00:23:33.799
to engineer the product is just too you almost like
483
00:23:33.839 --> 00:23:35.799
you just don't need it if you're an indoor haunted
484
00:23:35.799 --> 00:23:38.160
attraction where you don't need We're not exposed to the weather,
485
00:23:38.279 --> 00:23:41.240
and you don't really your your lights aren't getting inspected,
486
00:23:41.279 --> 00:23:43.160
you don't need them to be ul listed. Plenty of
487
00:23:43.720 --> 00:23:46.839
attractions don't need to have ul listing stuff and all that.
488
00:23:47.079 --> 00:23:50.680
But like we it's like we have to manufacture for Disney,
489
00:23:51.680 --> 00:23:54.000
and so because of what has to go into that
490
00:23:54.119 --> 00:23:58.559
to manufacture to there, then I started telling people this
491
00:23:58.559 --> 00:24:00.920
at LDI, I'm like, we're not the best option for you.
492
00:24:01.240 --> 00:24:04.720
If you are if your primary concern is money, we're not.
493
00:24:04.759 --> 00:24:05.359
The best option.
494
00:24:05.480 --> 00:24:08.559
And that's because we have to engineer for saving time
495
00:24:08.920 --> 00:24:11.279
and for the ease of use, which is the Disney case,
496
00:24:11.480 --> 00:24:13.880
and that's how our stuff is engineered, you know, And
497
00:24:13.960 --> 00:24:15.759
so yeah, you just you.
498
00:24:15.799 --> 00:24:18.119
Kind of have to be like this is the this
499
00:24:18.119 --> 00:24:19.400
this is where.
500
00:24:18.680 --> 00:24:22.160
We're planting our flag because because it can't work on
501
00:24:22.200 --> 00:24:23.920
the other end, we don't want to race to the
502
00:24:23.920 --> 00:24:25.880
bottom of cost.
503
00:24:26.160 --> 00:24:28.640
And just and to follow that up, if you you know,
504
00:24:28.720 --> 00:24:31.960
with your with your attractions, say, for example, you're an
505
00:24:31.960 --> 00:24:37.039
attraction owner, you may have to target either I'm going
506
00:24:37.079 --> 00:24:42.160
to do five one million dollar tickets or one million
507
00:24:42.240 --> 00:24:45.279
five dollar tickets. You have to you know, focus and decide.
508
00:24:45.759 --> 00:24:48.400
You may not be able to be both. Yeah, you know,
509
00:24:48.440 --> 00:24:49.799
you may not be able to appeal to both.
510
00:24:50.240 --> 00:24:50.519
Yeah.
511
00:24:51.079 --> 00:24:54.440
So I have a clump here as our next ones,51200:24:54.519 --> 00:24:59.359
which is, like I guess, relating to AI. So there's51300:24:59.359 --> 00:25:01.720
a lot of uns certainty around AI. But I need51400:25:01.720 --> 00:25:05.480
to unpack that because when I say, it's a lot.51500:25:05.720 --> 00:25:09.119
So there's uncertainty around AI, but there's also like a51600:25:09.119 --> 00:25:12.480
loss of trusted institutions, which is also part of the51700:25:12.480 --> 00:25:16.000
AI thing. So I think, and then there's a stat51800:25:16.039 --> 00:25:18.400
that I put in my report, which is from the51900:25:18.440 --> 00:25:20.759
Reuters Institute that said, for the first time this year,52000:25:21.000 --> 00:25:23.839
social media beat TV as people's go to news source.52100:25:24.400 --> 00:25:28.559
And then paired that with that, the TikTok is staying52200:25:28.720 --> 00:25:30.839
and the algorithm is not changing, or neither is the52300:25:30.880 --> 00:25:35.839
data sources. So it's just a different landscape marketing wise52400:25:36.079 --> 00:25:39.440
for attractions and for companies. And when I say that52500:25:39.599 --> 00:25:43.160
the AI is uncertain, it's not just about the uncertainty52600:25:43.200 --> 00:25:48.400
that it pushes into these Like basically, if you're getting52700:25:48.400 --> 00:25:49.799
your news from TikTok, but if you're not sure if52800:25:49.799 --> 00:25:53.200
the TikTok is real or not, that's uncertainty. So there's that, right,52900:25:53.200 --> 00:25:56.079
But then there's also it's like the deep fake part53000:25:56.079 --> 00:25:58.200
of the AI. But then there's also the uncertainty it's53100:25:58.240 --> 00:26:01.960
injecting into the economy where it's like, you know, forty53200:26:02.000 --> 00:26:04.400
percent of our market right now is being made up53300:26:04.400 --> 00:26:08.759
of AI related companies, and like if their valuations dip53400:26:08.799 --> 00:26:09.759
we're in a recession.53500:26:10.440 --> 00:26:11.880
Will it dip? Will it not dip?53600:26:12.000 --> 00:26:15.000
Also, it's like we've become a fragile economy in many53700:26:15.039 --> 00:26:18.079
ways because of our overliance on AI. And you could53800:26:18.079 --> 00:26:20.240
say that's a great thing if you believe it's it's53900:26:20.359 --> 00:26:22.240
there's not a bubble, But if you believe there is54000:26:22.279 --> 00:26:25.079
a bubble, it could be a very dangerous thing. And54100:26:25.119 --> 00:26:29.599
I think all that is, I think that the impact54200:26:29.640 --> 00:26:33.200
for attractions is relatively low, and it's because I think54300:26:33.240 --> 00:26:35.200
most of the people impacted by that are going to54400:26:35.200 --> 00:26:37.799
be the high income earners. And so it's back to54500:26:37.839 --> 00:26:40.240
what we just talked about. If the majority of your54600:26:40.279 --> 00:26:42.720
money is from high income earners that are invested in54700:26:42.720 --> 00:26:46.680
the stock market, that could be a potential threat for you,54800:26:46.720 --> 00:26:50.160
depending on how those people feel about their liquidity. But54900:26:50.440 --> 00:26:53.359
if not, then I think you're relatively stable from that uncertainty.55000:26:53.720 --> 00:26:56.759
So where it would be a problem is in the55100:26:56.839 --> 00:26:59.880
authenticity part I mentioned at the beginning, where it's injecting55200:27:00.079 --> 00:27:01.480
like you don't know what's the deep big and what's55300:27:01.519 --> 00:27:06.559
not and everything, and and the Instagram team actually released55400:27:06.599 --> 00:27:09.400
out there they're kind of like twenty twenty six best55500:27:09.440 --> 00:27:13.200
Practices looking forward thing, and they did mention how the55600:27:13.599 --> 00:27:17.559
raw videos that are kind of on the rise because55700:27:18.240 --> 00:27:21.279
if it looks too good, people aren't sure if it's55800:27:21.359 --> 00:27:25.680
real versus if it looks like if it looks you know,55900:27:25.720 --> 00:27:27.440
it's that's part of it. It's like, does this look56000:27:27.559 --> 00:27:29.400
like your park? Does this look like a thing that56100:27:29.480 --> 00:27:31.559
could have been shot there? Does it look like you56200:27:31.599 --> 00:27:33.680
know or does it look like a movie that like56300:27:34.119 --> 00:27:36.400
you know, niver Like like I think the days of56400:27:36.440 --> 00:27:39.200
making the movie type things like trailers that Universal has56500:27:39.240 --> 00:27:42.440
done for their for their haunted houses is probably not56600:27:42.519 --> 00:27:43.400
great because you're.56700:27:43.240 --> 00:27:46.240
Not sure if people aren't sure if it's real versus.56800:27:45.960 --> 00:27:47.599
I think the most basic version of this is the56900:27:47.960 --> 00:27:52.920
preference now of shooting vertically versus shooting horizontally. Yeah, to me,57000:27:53.000 --> 00:27:56.839
that is the most basic of the shift to vertical.57100:27:56.920 --> 00:27:58.519
The reason I think more people prefer it started to57200:27:58.519 --> 00:28:02.160
prefer the vertical format was because, oh, that's got to57300:28:02.200 --> 00:28:03.960
be real, because someone shooting it on their phone.57400:28:04.599 --> 00:28:06.559
You know, it's it is.57500:28:07.359 --> 00:28:10.720
It's a unique it's a unique situation, and I think57600:28:10.799 --> 00:28:12.880
that you know, when it comes to when it comes57700:28:12.920 --> 00:28:14.359
to AI, I think it's something that we have to57800:28:14.400 --> 00:28:17.200
keep an eye on because this is, Yes, it is57900:28:17.240 --> 00:28:21.519
a potential threat, I think. However, however, I also think58000:28:21.519 --> 00:28:25.559
it's a great opportunity. Just like just like with any58100:28:25.599 --> 00:28:27.920
new tool, there's always going to be a certain fear.58200:28:27.920 --> 00:28:29.480
There's always going to be a how do we use58300:28:29.559 --> 00:28:33.599
this tool? You know, going back a thousand, hundred thousand years,58400:28:33.839 --> 00:28:36.720
not quite that far, but when they started using cars58500:28:36.839 --> 00:28:40.119
versus horses, A lot of people don't realize that there58600:28:40.160 --> 00:28:44.000
were huge organizations that were terrified and thought that the58700:28:44.079 --> 00:28:46.720
use of automobiles and you know, human beings traveling this58800:28:46.839 --> 00:28:49.759
fast was going to kill out the human race. So58900:28:50.160 --> 00:28:51.880
you know, it's it's one of those situations where you59000:28:51.920 --> 00:28:53.839
have to kind of look at it and as Philip said,59100:28:54.160 --> 00:28:56.599
you have to kind of evaluate how is this going59200:28:56.640 --> 00:28:59.319
to work for me? You know, I've said it before.59300:28:59.359 --> 00:29:01.680
AI is not going to take anybody's is not going59400:29:01.759 --> 00:29:04.400
to replace anybody, but it might somebody who can use59500:29:04.440 --> 00:29:06.519
AI might replace somebody who can't use AI.59600:29:06.880 --> 00:29:10.480
So I think neither it's a threat or opportunity depends59700:29:10.519 --> 00:29:15.200
on the ownership. So like if you are an employee59800:29:15.559 --> 00:29:17.960
and you're owning AI to help you be a better59900:29:18.000 --> 00:29:23.160
employee versus if you are a team leader who is60000:29:23.279 --> 00:29:25.920
using AI to like replace employees. I mean it depends60100:29:25.960 --> 00:29:28.559
on the ownership. Who owns it, like who owns who60200:29:28.599 --> 00:29:32.079
owns the the use? Like where is the ownership rights?60300:29:32.079 --> 00:29:32.640
Where you know?60400:29:32.680 --> 00:29:35.160
Where is do you own your work or does the60500:29:35.200 --> 00:29:37.559
company own your work that then they can replace you60600:29:38.079 --> 00:29:38.519
with it?60700:29:39.000 --> 00:29:39.799
Or are that you know?60800:29:39.880 --> 00:29:42.440
And and is it going to be something that that60900:29:42.720 --> 00:29:45.359
destroys way more jobs this year or is it going61000:29:45.440 --> 00:29:48.079
to be something that makes our productivity as a as61100:29:48.079 --> 00:29:51.559
a country go higher. And in the theme park industry,61200:29:51.799 --> 00:29:54.680
it's again a little bit more insulated because we don't61300:29:54.759 --> 00:29:57.400
yet quite yet have robots that do a lot of61400:29:57.519 --> 00:30:00.440
a lot of our entry level and a lot of61500:30:00.440 --> 00:30:04.279
that stuff. But you know, so I think the higher end,61600:30:04.319 --> 00:30:06.680
like what it's almost like what Scott I do, is61700:30:06.720 --> 00:30:08.880
a little bit more at risk, I think than a61800:30:08.920 --> 00:30:11.799
lot of the bulk of your You know, you're going61900:30:11.880 --> 00:30:14.079
to need somebody that's going to still be moving people62000:30:14.119 --> 00:30:16.200
around and guest services and all that stuff is for62100:30:16.559 --> 00:30:18.480
the time being still, but the rest of it, I62200:30:18.480 --> 00:30:19.720
think is a question of ownership.62300:30:20.319 --> 00:30:20.559
Yep.62400:30:20.759 --> 00:30:23.599
And I think we've learned that that people are the62500:30:23.640 --> 00:30:26.359
best form of AI. You know, people can can adapt62600:30:26.440 --> 00:30:28.519
to a situation, they can adjust to a situation in62700:30:28.559 --> 00:30:31.000
real time. And when it comes to guest service, I62800:30:31.000 --> 00:30:32.160
think that's one of the things that we have to62900:30:32.160 --> 00:30:35.240
continue to remember because I think Disney kind of learned63000:30:35.240 --> 00:30:36.200
that people.63100:30:36.000 --> 00:30:36.880
Got tired of that quick.63200:30:37.319 --> 00:30:40.799
So make sure that make sure that you work that63300:30:40.880 --> 00:30:44.000
into your plan so that you don't rely on AI63400:30:44.079 --> 00:30:47.480
for things that should probably be done by real humans.63500:30:47.559 --> 00:30:51.160
Just something to think about, all right, Well, look at that.63600:30:51.200 --> 00:30:51.599
We're done.63700:30:51.720 --> 00:30:53.400
I don't know how we finished that so quickly, but63800:30:54.160 --> 00:30:56.480
we did. And we probably didn't cover half the things63900:30:56.480 --> 00:30:58.640
on Phillip's list. Now I still have like five or six.64000:30:59.039 --> 00:30:59.559
That's okay.64100:30:59.559 --> 00:31:01.920
That's okay because we will talk about that and kind64200:31:01.920 --> 00:31:04.960
of how to take this information and utilize it in64300:31:05.000 --> 00:31:08.200
our Patreon show Unhinged. But for now, guys, thank you64400:31:08.279 --> 00:31:10.559
all very very much for watching. Please, if you're watching64500:31:10.640 --> 00:31:12.119
on YouTube, please.64600:31:11.960 --> 00:31:14.160
Subscribe, Please subscribe, Yes, please.64700:31:14.039 --> 00:31:18.240
Please subscribe, and yeah, because there the sooner you subscribe,64800:31:18.480 --> 00:31:20.079
the more likely it is that we'll be able to64900:31:20.079 --> 00:31:22.480
continue this and hopefully you're getting something out of it,65000:31:22.559 --> 00:31:25.400
and even if it's just thirty minutes of listening to65100:31:25.440 --> 00:31:25.960
us ramble.65200:31:26.039 --> 00:31:27.319
So thank you very65300:31:27.400 --> 00:31:29.279
Much, have a great new year, and we will see65400:31:29.279 --> 00:31:30.160
you next week.
