USA/China: Prospective Future for (New) Universal Theme Parks
Universal Studios Hollywood
The acquisition of DreamWorks Animation by NBCUniversal, which was already announced this past spring (c.f. EAP news from May 3rd, 2016) and is planned to be completed by the end of this year, opens up new perspectives for Universal theme parks, especially in the Asian leisure market.
Steve Burke, CEO of NBCUniversal, recently revealed to US media that the popular DreamWorks characters out of “Madagascar” and “Kung Fu Panda” (among others), will start to emerge in the Universal theme parks. The integration of these IP brands refreshes the visitor offer and supports the global growth of the theme park group. Currently, Universal Parks and Resorts has attractions in Orlando (FL), Hollywood (CA) and Osaka (Japan); the company recently bought a majority stake in the Japanese park. According to Burke, companies find the biggest growth potential of the Asian leisure market in China. The opening of Universal Studios Beijing is scheduled for 2020, Universal will own between 30 and 40 percent of the park. The remaining ownership fraction will be hold by Beijing Shouhuan Cultural Tourism Investment Co., Ltd., a consortium of four state-owned companies. In addition to this large theme park project, Burke sees great potential for Universal to open further parks in other countries as well. (eap)
