jzarley Posted July 23, 2004 Share Posted July 23, 2004 Viacom announced their financial results for Q2 yesterday, in a nutshell... --They earned $1.4 billon in income (up 10% over Q2 2003) on revenues of $6.8 billon (up 7%). --The entertainment unit (which includes the parks, studios, etc.) did $951 million in revenue, up 3% from 2003. --Paramount Parks reported a 16% increase in park attendance over the same quarter last year, however that was offset by a 4% decrease in per capita guest spending. --As usual, the bulk (70%) of Viacom's revenue is made up from television and cable channels. For financial reporting they don't break out the parks individually, but I'm guessing that PKI, PGA (due to the new waterparks), PC (due to "Borg"), and ST:TE (due to "Borg 4D") probably all contributed. I'm sure the better weather (in OH, anyway) and discounting also helped. On the other hand, the ticket discounting probably also contributed to the lower guest spending. (I only paid $25.99 for a ticket this year, which is about $5 cheaper than what I've paid the last several years...) Here's the link to the whole press release if anyone wants to see it-- http://www.viacom.com/pdf/qr2q04.pdf Joel Quote Link to comment Share on other sites More sharing options...
KIBeast Posted July 23, 2004 Share Posted July 23, 2004 Maybe higher gas prices have contributed to less spending in the park? Quote Link to comment Share on other sites More sharing options...
flightoffear1996 Posted July 23, 2004 Share Posted July 23, 2004 I doubt it. My guess is they shouldn't let the guest come and leave the park with that hand stamp. So they would have to buy food at the park. Quote Link to comment Share on other sites More sharing options...
Browntggrr Posted July 23, 2004 Share Posted July 23, 2004 I doubt it. My guess is they shouldn't let the guest come and leave the park with that hand stamp. So they would have to buy food at the park. That would be the worst mistake ANY business could do. You cannot stop a person from leaving to go eat just because a particular park wants to make more $$. PKI, and every other park, already prevents guests from bringing in food- which is understandable. But stopping them from leaving, or charging them twice for leaving, is just a lawsuit waiting to happen. Think about the person that got hit by lightning, they wanted to sue PKI for not being informed about the severity of the storm. Now given that same situation, and some poor soul would be hit with lightning, all they would say in the courtroom is that they didn't want to leave because they did not want to get charged twice. Viacom would be writing a blank check to that family. :offtopic: Quote Link to comment Share on other sites More sharing options...
flightoffear1996 Posted July 23, 2004 Share Posted July 23, 2004 Well actually no one should be able to sue cause on the back of the ticket is says somthing like the park will not be held resposible. Just think on how much bigger parks would be if jack@$$ didnt sue the park. That is how if someone hits someone in the car and they sue is a big croc because it was an accident. Quote Link to comment Share on other sites More sharing options...
Browntggrr Posted July 23, 2004 Share Posted July 23, 2004 You missed the point. Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted July 23, 2004 Share Posted July 23, 2004 yeah... the point rolled right past you, official call: error. He's absolutely right. If ANYTHING were to happen to the people in the park, the park could be held responsible for keeping them inside. I mean, even the lady who had the unfortunate incident on Top Gun would be an example. Her husband could have said that she didn't feel well all day, but she didn't want to pay for admission twice. Also, how can a park stop people from going to their cars? I know that I entered and exited the park about 5 times yesterday to get my camera stuff, to put it away, to get my swimming suit for CDBB... that would cost several hundred dollars to do if I had to pay every time I went in. The whole underlying concept is that you're walking a tightrope between price and convenience when it comes to food. Yeah, it costs about $8 for a meal at PKI, but it's a hell of a lot more convenient than going all the way to your car and driving to McDonald's isn't it? Ryan Quote Link to comment Share on other sites More sharing options...
flightoffear1996 Posted July 23, 2004 Share Posted July 23, 2004 Well no not really. If you are feeding a family a meal at McDonalds cost what 4 bucks. If you buy a meal for 5 people you are saving 20 bucks for maybe a big 20 minutes out of your day. Quote Link to comment Share on other sites More sharing options...
Browntggrr Posted July 23, 2004 Share Posted July 23, 2004 My family just stops at Meijer's before going to the park and buys lunch meat, snacks etc. Healthier, cheaper, and alot more convenient. Charging admission for a ticket that claims to be "all day", and then trying to prevent people from leaving by making them pay to re-enter is really bad business. Not to mention, if PKI is losing enough money on concessions to the point that they would even consider an idea like that, they should consider dropping the price so the convince factor does not outweigh the price. If I could buy a Pepsi out of a vending machine for a $1, that would stop me from going to my car. Quote Link to comment Share on other sites More sharing options...
KIBeast Posted July 25, 2004 Share Posted July 25, 2004 Well, if I'm wrong about the gas prices, then what do you suppose is contributing to less spending? Gas prices has to figure in somewhere. If you're spending more money on gas, then there's less in your pocket to spend. Quote Link to comment Share on other sites More sharing options...
Browntggrr Posted July 25, 2004 Share Posted July 25, 2004 I don't think that it is the price of gas that is directly affecting spending, but the combination of gas prices AND the price of food and beverages in the park. $2.50 for a 20 oz. bottle of water? There is a vending machine at my place of employment, and the same brand, same size of water is $1.00. And it is not just PKI, but any vacation destination that overcharges for convienence. People are just sick and tired for paying for things that they can leave in their car/ hotel room for a 1/3 of the price. I just wonder if this 16% increase is paid attendence or people who chose to buy a season pass and have unlimited entrance to the park, which would increase people through the gates, but have a small affect on the bottom line for paid entry. Quote Link to comment Share on other sites More sharing options...
KIBeast Posted July 29, 2004 Share Posted July 29, 2004 That's an interesting point about the attendance, tggrr. With statistics, you can pretty much twist them to be whatever you want them to be. Quote Link to comment Share on other sites More sharing options...
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