by Rosa Xie, Entertainment + Culture Advisors (ECA)
As we approach the last quarter of 2023, pent-up demand for theme parks coming out of the pandemic continues to be strong. Leading theme parks are seeing higher revenues because of ticket price increases, more ticket-related upcharges, and higher in-attraction spend.
Post-COVID theme park ticket price points continue to exhibit substantial increases worldwide. The Middle East sees an average increase of 26%, followed by Europe (21%) and North America (20%).
Among leading theme park operators worldwide, nearly half of them had an adult headline price increase of over 20% post-pandemic. This increase is led by Parques Reunidos (27%), SeaWorld (26%), and Merlin (21%), respectively.
Dynamic theme park pricing trends
Many mega and major theme parks have implemented more complicated dynamic pricing since the pandemic. Dynamic pricing allowed theme parks to make the most of their limited capacity and generate more revenue during the pandemic. It continues to serve as a tool to optimize revenue by charging higher prices during peak demand periods and even out demand in other periods.
As shown in the pricing comparison table below, mega theme parks tend to use more price tiers post-COVID for revenue optimization. The peak price tier exhibits the highest increase at between 20%-30%+/-.
Following the dynamic pricing trends led by mega theme parks, regional theme parks, such as Six Flags and Cedar Fair Parks, also implemented a dynamic pricing approach to park admissions. Dynamic pricing has taken a leading role within the realm of theme parks, much like the fading away of the traditional fixed annual ticket price.
In addition to theme park ticket price increases, we saw more significant ticket-related upcharges led by Disney and Universal. Disney introduced Genie+ as well as individual lightning lanes in 2021, replacing the free fast pass. At an upcharge of $20-35 for the Genie+, visitors can skip the line for a majority of Disney rides and attractions. Individual Lightning Lane Selections (at a cost of $10-25 per attraction) are reserved for the most popular E-ticket rides.
With the debut of Super Nintendo World at Universal Studios Hollywood, Universal launched an early pass upcharge for $20. This allows visitors to enter the park one hour before the theme park opening.
Dramatic increase in per capita spend
Post-COVID per capita spend at theme parks increased significantly as demonstrated by the visit spend data released by Cedar Fair, Six Flags, and SeaWorld. Average per capita spend at selected theme parks increased between 30-50%, primarily driven by increased in-park spending.
In summary, post-COVID theme park pricing trends continue to suggest that the rising prices, inflation, and the introduction of new and improved ticket add-ons have collectively led to a significant increase in the average cost of a day at a theme park compared to previous times.
The Global Attraction Landscape has been developed by ECA in collaboration with blooloop. This online resource provides insights into leading players in the attractions industry.
