Amusement Park Market Trends

Growth Drivers

• Increasing integration of the Internet of Things (IoT) - IoT enhances the guest experience by enabling features like smart ticketing, personalized attractions, and real-time ride management. It also allows better operational efficiency through data collection and analysis, optimizing ride maintenance, and improving crowd management. These advancements make parks more attractive to visitors and help operators streamline their operations, thus contributing to amusement parks market growth.
• Growing popularity of influencer marketing - Influencers create engaging content such as ride reviews and park tours, which can appear more authentic and relatable than traditional advertising. According to estimates, about 69% of consumers trust influencer recommendations. Additionally, by leveraging influencers to enhance visibility, engage targeted audiences, create authentic content, and promote exclusive offers, amusement parks can effectively drive customer acquisition and boost their amusement parks market presence. A staggering 85% of marketers believe influencer marketing helps them with acquiring new customers. 
• Surging emphasis on sustainability - To improve their environmental standards, amusement parks worldwide are adopting sustainable practices. Composting food waste, responsibly sourcing food, and minimizing or eliminating single-use plastics are some of the extensive sustainability practices that sustainable amusement parks are implementing. For instance, Six Flags has considerably reduced its carbon footprint by utilizing solar energy to power rides through an effort that captures solar radiation.

Challenges

• Exorbitant operational and initial costs - Building a new amusement park requires substantial investment in land, construction, infrastructure, rides, and attractions. These costs can deter potential investors and limit the number of new parks being developed. For instance, the cost of developing a mega theme park like Universal Studios or Disney can cost USD 2 billion to USD 4 billion, including expenses for themed areas, technology, and landscaping.

• Seasonal variations - Amusement parks often experience peaks in attendance during holidays, summer vacations, and weekends, while facing lower attendance during off-peak seasons and weekdays. This fluctuation can impact revenue consistency.