By Tyler Rizzo, Storyland Studios
As we rapidly approach the end of what has been a tepid performance by all reports in the themed entertainment industry, particularly in the US, one trend has made itself clear; brands are even more aggressively expanding into immersive entertainment, looking into new mediums to bring consumers closer to the IP they love.
This arms race expands beyond the traditional theme park gates that have historically been the playground for the best IP. No longer is there a need to partner with a large-scale destination theme park or find billions in capital as well as hundreds of acres of land to bring IP to life. Companies have found new avenues to connect their fans with the brands they adore. From immersive RD&E to “black box” themed entertainment centers, the experience economy is becoming more accessible daily.
IP-based entertainment at Area15
Let’s start with one of the early adopters of this trend, the immersive entertainment district Area15. Opening in late 2020, this 200,000-square-foot collection of alternative themed experiences has built a strong following. It has rapidly grown, seeing over 3 million visitors in 2022.
Area15 features a mix of competitive socializing and RD&E, as well as experimental experiential entertainment like Meow Wolf. It quickly established itself as a must-do hang in the competitive Las Vegas market.
Now, expansion is also on the way. Anchored by a major IP (more on that later), Area15 looks to add an additional 413,000+ square feet of retail, food & drink, entertainment, and hospitality experiences. With an additional site already picked out in Orlando, Florida, we are no doubt going to see optimistic expansion plans as the blueprint for strong returns has been printed in Vegas.
The Barbie effect
In 2024, the long-awaited Mattel Adventure Park will open in Arizona. This is in development in Glendale, near the iconic State Farm Stadium which has already hosted three Superbowls. The 9-acre park promises to bring everyone’s favorite childhood toys to life.
With attractions and coasters themed to Barbie Beach House, Hot Wheels, Uno, and Pictionary, this experience is sure to draw younger families looking to experience toys IRL. It’s also likely to attract millennials looking to reconnect with the nostalgia of their childhood. With the park largely being set indoors, the attraction will be weather-proofed, keeping guests out of the desert sun and immersing them in thematic experiences that will make the biggest fans’ dreams come true.
Toy brands, movies, and more
Leading toy and game company, Hasbro, may be setting the pace in this expansion of IP-based entertainment. Already boasting over 65 physical locations, and hosting over 500 events annually, Hasbro has bet big on physical experiences, bringing some of its most popular IPs like Monopoly, Nerf and Transformers to life through branded hotels and restaurants, immersive retail, and competitive socializing, as well as traditional ride-based entertainment, and more.
Matt Proulx, VP of global experiences, partnerships and music at Hasbro, explains:
“At Hasbro, our mission is to entertain and connect generations of fans through the wonder of storytelling and exhilaration of play, and there may be no business that exemplifies this better than LBE.
“In working with valued partners that are experts in the experiential space, we’ve been able to push boundaries and bring our brands to life in new ways. In listening to our fans’ wants and expectations for new and innovative ways of interacting with brands, we’ve been able to adapt and expand our business to meet the needs of today’s consumer.
“The success of our LBE business is the culmination of more than a decade of hard work and the vision of countless team members who understood the potential of the experience economy. Looking ahead, we anticipate 250 permanent locations by the end of 2025.”
Dropping just after Thanksgiving, Sony Pictures announced the massive news of the Sony Wonderverse. This is a 45,000-square-foot location-based experience bringing some of the company’s best brands to life. Featuring a variety of small-scale attractions like escape rooms themed to Uncharted and VR attractions themed to Ghostbusters, as well as a huge serving of experiential F&B, the Wonderverse is set to bring IP-based entertainment to scale in Chicago.
Universal expands IP-based entertainment offer
And, as teased earlier in this article, easily the largest player to explore this avenue is Universal Parks & Resorts. With a 365 “Haunt” attraction anchoring the Area15 expansion, and the just-named Universal Kids Resort bringing the family focus to Texas, Universal has clearly identified a new market to capitalize on.
Already boasting some of the most visited resorts in the world, bringing the brand to new markets allows for not only continued connections to dedicated fans, but also an outlet for capturing incremental visitation from consumers who may not be able to budget for, or willing to, travel to Hollywood or Orlando.
Seemingly evergreen IPs like SpongeBob Square Pants and Shrek will anchor the park. It will also be an instant synergy creator for developing brands like Trolls and Camp Cretaceous.
Watch this space
It is shaping up to be an exciting decade as brands continue to rapidly expand into the location-based entertainment market. With existing facilities showing financial viability, entertainment brands must also have a strategic plan to develop their themed entertainment assets, as consumers continue to seek out connection in the real world.
Storyland Studios has been working side-by-side with clients for their journey into this exciting blue ocean opportunity. Offering design work ranging from blue sky and master planning as well as strategic consulting on business plans, feasibility, and IP/brand partnerships, Storyland Studios is a trusted partner in making experiences that lift the spirit become a reality.
