After Disneyland and Universal Studios, there is another American media giant that is eager to create a “dreamland”. American streaming media giant Netflix is accelerating the implementation of its IP theme parks, which generates strong interest in the community. Over the past few decades, theme parks have brought people “intergenerational” cultural experience – classic IPs such as Snow White are often cultural symbols shared by several generations. However, as streaming services and a new generation of popular works become the dominant force in distribution, the content and output platforms of cultural IPs are changing dramatically. In this era, how should media groups create a new generation of theme parks?
“Netflix House”, themed scenarios with real-life interaction
On September 6, as a pilot project to enter the theme amusement park, American streaming media giant Netflix and South Korea’s largest theme park, Able Land, officially opened the long-planned “Blood City” horror theme park, targeting the “MZ Generation” of young people, who are deeply influenced by streaming media communication and like novel experiences. The target group is the “MZ generation” of young people who are influenced by streaming media and enjoy novel experiences. According to Korean media reports, Netflix is accumulating experience by organizing similar events on an ongoing basis so that they can be applied to the “Netflix House” in the future.
Netflix House is a themed IP offline park that Netflix announced in June of this year. According to the plan, Netflix will debut two Netflix Houses in the U.S. next year. Similar to Disneyland and Universal Studios, which offer visitors themed experiences of Disney and Universal Studios’ films, visitors will get a physical experience of Netflix’s hit series at the Netflix House. Netflix has launched about 50 physical experiences around the world in recent years, but instead of offering large-scale ride experiences like roller coasters like those at Disneyland and Universal, Netflix House will focus on live-action interactions in themed situations, according to Investopedia.com.
According to Korea’s Nexus website, popular Netflix horror-themed series such as “Zombie Campus” and “Stranger Things” are the main backdrop this year, thanks to the IP collaboration between the two companies. In conjunction with the plot of the Netflix episodes, the theme park has invested in escape-inducing actors. Visitors can dress up as zombies in Hyo-san High School uniforms and experience what it’s like to be the main character of a TV series. The park also offers interactive rides and scavenger hunts based on virtual reality.
In order to attract young people, Able Land set the ticket price at 46,000 won (1,000 won is about 5.35 yuan), and the price for renting costumes + make-up is 20,000 to 30,000 won. Many young Koreans clamored to visit the park after its opening, with Korean blogger Zelly praising, “Both the sets and costumes here look like they were lifted straight from a TV drama.”
Netflix test water offline park heat pull full, but there are some people worried about never had a large IP park Netflix to create a mega experience-oriented space plan can be successful. Netflix responsible person said that the difference with the existing theme parks is that Netflix house will give visitors as much as possible immersive experience.
American theme parks face business challenges
U.S. media and entertainment giants such as Disney, Comcast and Warner Bros. have long expanded their brands and various types of IP into expansive business empires that include dozens of theme parks. But today’s traditional U.S. theme parks are facing certain challenges in their operations.
“The cost of experiencing a trip to Disneyland is a little too high for the average American family these days.” In a Sept. 10 investigative news program, CNBC-TV said the price of a Disneyland ticket in the U.S. has risen more than 56 percent over the past decade or so, substantially higher than the 32 percent increase in the U.S. inflation rate over the same period. CNBC reported that the average price of a one-day ticket for Disneyland in the U.S. has risen from about $90 in 2012 to more than $150 in 2024, CNBC reported.
Disney’s second-quarter 2024 earnings report showed Disney theme park revenues of $58 billion, up 3% year-on-year, but operating profit fell 6% year-on-year due to weakening consumer demand and inflation. Some analysts believe the company is also increasing costs for new themed IP investments in its amusement parks, with Disney planning to add new attractions to its U.S. parks, as well as those in Shanghai and Hong Kong, and to develop new parks with video game maker Epic.
According to the U.S. “Forbes” website latest reports, as the Disney company relies on the most “cash cow”, in 2023, Disney theme parks received a total of 142 million global visitors, creating 32.6 billion U.S. dollars in revenue, accounting for 70% of the company’s total operating income. In contrast, Disney’s entertainment division (including movies and streaming media business) contributes only 11% of operating income.
Universal Studios theme parks are also experiencing a similar experience with Disneyland. U.S. financial news website “TheStreet” reported that Universal Studios parent company Comcast’s second-quarter earnings this year, the company’s worldwide theme park revenue fell 10.6% year-on-year in the quarter, especially the U.S. mainland theme park visitor numbers fell significantly. An increase in ticket prices at Universal Studios’ U.S. Florida theme park last November also led to a drop in the number of visitors.
