Dr Jack Samuels
www.parkworld-online.com
Entertainment Industry Happenings
By Dr Jack Samuels
I
n my travels and at home in the past several months, several things of note have crossed my path. Each of these gives us insights into what is happening in the attractions and entertainment industry at large.
these gives us insights into what is happening in the attractions and entertainment industry at large. 1. First off is the widely advertised promotion of the ownership of Firepit Suites (or, as they call it, Luxe Firesuites) by the Venu Entertainment company. (
https://venu.live/luxefiresuites/) This company is offering investment opportunities in seating areas at its outdoor venues featuring a fire pit. The private suite concept at the outdoor facility, offered as an investment with privileges, is quite interesting and includes many perks, such as the possibility of a return on investment and priority access to tickets for all events. They don’t come cheap: the lowest- cost one runs about $450,000, and prices vary with suite size up to 1.2 million.
We have seen a variety of items sold in the attractions industry over the years, including theatre seats and pavement bricks, but none of these have involved general public ownership with an opportunity to make a profit except, of course, ownership of a publicly traded company’s stock. Also, these fire suites offer extraordinary perks,
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such as access to various shows held at the facility. Could these lead to buying permanent privileges on your favorite theme park ride or any variety of perks? 2. Is the entertainment market shifting to more local experiences? With the cost of destination theme parks perhaps reaching unaffordable levels for some folks, local attractions offer a financial benefit. An indicator of this is American Multi-Cinema. Some readers may recall that this company was a crazy meme stock fueled by Reddit a number of years ago. This summer, the company's stock (which I bought 4800 shares of) has been soaring. It has moved from about $1.50 a share to over $3.00. at one point and will probably make another jump based on the unusually strong summer box office.
Back around 2000, I wrote in my textbook about the future of our industries a piece about movie theaters: “Movie theaters will not disappear because it is unlikely that most people will ever have homes that can house those bigger-than-life screens. Naisbitt, in his book “Megatrends,” suggests that movie theaters have not been replaced due to the public’s need for what he calls “high touch.” (Naisbitt, 1982) This is the coming together of the
people in an audience. (The Rocky Horror Picture Show is the epitome of a movie that brings about this togetherness, as the movie always causes crazy audience participation.) We believe this thought is operative, but the film's physical presentation on the big screen is even more pertinent. Additionally, movie theaters are now becoming ever more home- like with stadium-style cushioned rocking chairs and so-called cuddle or love seats that enable two people to sit together without obstructions between them.” (Samuels and Foucar-Szocki, Guiding Your Entry Into the Hospitality, Recreation, and Tourism Mega-Profession, 1998) Food and drinks aplenty add not only to revenue but also to social experiences within-theater dining.
In the same book, we discussed how technology will greatly enhance many forms of recreation and entertainment. Movie theaters have clearly taken advantage of technological developments with the advent of IMAX and 3D formats, as well as various enhanced sound systems. The availability of films that use these technologies is becoming increasingly common. A good recent example of technology at work in the movie industry is the highly audience- engaging, interactive re-creation of The Wizard of Oz at the Sphere in Las Vegas. Here, the audience is showered with apples and other special effects
OCTOBER 2026
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