By Kelly Herrick, Katapult
Today’s media content seems full of new takes on old favourites, and it doesn’t show signs of stopping. From Wednesday on Netflix to Disney’s Inside Out 2 to Universal Pictures’s The Fall Guy, remakes and sequels seem everywhere. Even Pitbull also got in on the vibe with Dolly Parton and his homage to 9 to 5, Powerful Women.
So, why does the world seem to be rehashing and reinventing? Is there a shortage of stories? Have our imaginations dried up? Don’t people want new ideas anymore? The simple answer is, it’s all for comfort. New takes on established IP are commercially comforting, while new versions of beloved stories are emotionally comforting. Right now, amid the economic strains and cultural uncertainties in the world, we are highly motivated by both.
Commercial comfort
Disney CEO Bob Iger recently confirmed that almost all park investment would be IP-based. Disney can take advantage of established characters, worlds, and stories. It has audiences ready-primed for its new offerings, and this makes sound commercial sense.
IMDb published a list of movies due for release from 2024 to 2030. 91% of these titles are reboots or sequels, and 8% are stories we know from other media platforms. Just three titles on the list of 67 movies are new ideas.
Disney and Pixar studios are set to lean into their current portfolios, too, with the studios focussing on sequels and live-action remakes because marketing will be easier and less risky.
Emotional comfort
Dubbed ‘Generation Dread,’ today’s audiences are in crisis. From money worries to climate change and political unrest, as well as pandemics, their anxiety is at an all-time high. When anxious, people turn to the comfort of what they know, what feels easy, and what satisfies them.
Choosing to experience the same thing over and over (known as the familiarity principle or volitional reconsumption) is a strong factor for unsettled audiences. People make social connections by sharing old favourites. They know the outcomes and enjoy the emotional payoff. They also feel nostalgia, and they find the familiar choice the easiest and least stressful.
What does this IP trend mean for themed entertainment?
Themed attractions are the ultimate place for IPs to live. They offer guests a chance to come face to face with the worlds and characters they love. So now is a great time to capitalise on IP, broaden its appeal, go deeper into its worlds, and deliver standout experiences. I’ve spoken extensively about this topic with my colleague and former Disney Imagineer, Andy Sinclair-Harris, and this can be listened to on the Katapult podcast.
Here are five ways to make this IP trend work for your themed entertainment:
- Lean in. If you already have an IP in your attraction, make the most of its fandom and visibility. If there is a big wish for the fans, fulfil it: build the world, meet the character, sell the wand…
- Work with IP owners to tell the untold stories. What happens when the movie ends or when the characters are young? How can you enrich the IP with themed entertainment whilst staying true to its original intent?
- Consider what opportunities a real-life, physical experience offers the IP. Can you create at scale or stimulate all the senses? Can you bring in live action or offer FOMO moments?
- Go back to the IP’s roots. Remember why people love it in the first place and maximise that. Is it the music, the cars, the aesthetic, the villains? Whatever it is, use this as a basis for your experience concept and storytelling.
- Develop something new. There is still a desire for new concepts and experiences. If you don’t have an established IP, explore an experience based on a compelling, evergreen story all of its own. This could become your homegrown IP of the future.
Today’s IPs all started with a simple story. So, no, the world doesn’t have a story shortage. It has an ever-expanding collection of great stories to tell, and themed attractions are the perfect place to bring them to life.
