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$ Financial struggles for state fairs and amusement parks $ By: Brianna Taylor.

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Presentation on theme: "$ Financial struggles for state fairs and amusement parks $ By: Brianna Taylor."— Presentation transcript:

1 $ Financial struggles for state fairs and amusement parks $ By: Brianna Taylor

2 Short List of WHY there are financial struggles for fairs & amusement parks. Economy Debt Major disasters Drugs, fights, weapons brought in Safety and security ^ Over crowding (“under crowding”) Cost of operating machines is more than income Travel issues (not enough money, gas prices) Law suits (getting hurt, poorly made machinery) New technology(video games, iPods, travel,), not in peoples interest

3 “Explained list” of WHY amusement parks & fairs have financial problems Debt, they used up loans(used loans), weren't making enough profit and the amusement parks were using more money than they were making. They were also charging too much at times and for different things. (like Astro world charged $1 for locker per ride and charged high prices for parking and food was expensive. Parking prices and admission also kept going up. They didn’t reinvent the park or theme of the park, redecorate, refurnish, refresh. (Katrina) (hurricanes, floods, and weather) gangs, kids brought in weapons. Mothers would drop their kids off and kids off during summer and kids would get hurt, in fights, or kidnapped. Some rides weren’t safe, there were a lot of law suits, a lot of injuries, rides would break a lot and need to be repaired. The economy started getting bad so people stopped coming/traveling. Kids have more access to things like internet, games, 3D & 4D TV & games, kinect games, holograms virtual games, so kids don’t care to go anymore because they have all the things they like at home.

4 Amusement parks Vs. Fairs I would think most people would rather go to an fair or carnival over an amusement park because its cheaper in some ways & more convenient, and safer. Fairs or carnivals are usually close by in your town or around it and amusement parks aren’t always depending on where you live you most likely have to drive some to get to one. Amusement parks have more to offer, bigger, more intense rides, I’d rather ride a big, fast, adrenalin rushing roller coaster, but kids these days would rather sit at home playing video games in a reality world. Amusement parks like Orlando studios are fun but not when its hot or raining and there are these long…..lines to wait to ride something that take 30 seconds to 5 minutes and you’re having to wait anywhere from 20 minutes to 45 minutes to get on and to do it again it’s a lot of waiting. Plus the food and anything extra is extremely expensive. Fairs/carnivals can also have long lines at times esp. at a big event like the rodeo with concerts drawling tons of people but still cheaper just not as many roller coaster rides(adrenalin rushing rides) and they usually don’t go on for more than a month.

5

6 Astroworld & (some back ground) AstroWorld was a seasonally operated theme park located on approximately 57 acres (230,000 m 2 ) of land (later expanded to over 75 acres) between Kirby Drive and Fannin Avenue, directly south of Loop 610 in Houston Texas, USA. Opening on June 1, 1968, AstroWorld was originally developed and constructed as part of the Astrodomain, the brainchild of local philanthropist and former Houston mayor Judge Roy, who intended it to complement the Astrodome. AstroWorld was sold to the Six Flags Corporation by the Hofheinz family in 1975. Although the fourth park to be included in the Six Flags family of theme parks, it was the first park to be purchased by that company instead of being built. It was marketed as "AstroWorld: A Member of the Six Flags Family" so as to not confuse patrons with Six Flags Over Texas located in Arlington, Texas. Many variations of this naming scheme emerged from the Six Flags marketing department over the years. Despite these attempts at branding the park, most people continued to call it "AstroWorld" and the company eve in San Antonio, Texas has been marketed as "Fiesta Texas: A Six Flags Thementually responded by making the individual park's name more prominent. Similarly, Fiesta Texas Park". o AstroWorld was permanently closed by the Six Flags Corporation after its final day of operations on October 30, 2005. It was demolished between October 30, 2005 and the first half of 2006 (although parts of WaterWorld were being demolished prior to the final operating day at AstroWorld). The bridge crossing Loop 610 from the park to the parking lot continues to stand and is the last remaining structure from AstroWorld. The area where AstroWorld once stood is still grassland and is used for overflow parking during the Houston Livestock Show and Rodeo. o 2005: Reliant lot parking increased to $8. Six Flags issues a press release Sept 12, 2005 announcing Astroworld's permanent closure at the end of its 37th season in an effort to reduce corporate debt. Astroworld's last day of operation: Sunday, October 30th, 2005. Six Flags stockholder revolt led by Washington Redskins owner Daniel Snyder ousts PKS management team in November. 2006: Six Flags announces in May an agreement to sell the former Astroworld land plot to Conroe real estate agent Angel/McIver for $77 million. No formal plans for the site are released at this time.

7 AstroWorld Six Flags Astroworld had tons of CORPORATE DEBT Astroworld may reside on valuable land and have parking problems, but Houston is not a small rural city. If you look at the capital improvements for Astroworld in recent years you can argue that Six Flags planned for its failure. Amusement parks must constantly reinvent themselves to keep people coming back and in recent years Six Flags did not follow this rule in Houston. They did not invest in maintaining or upgrading the property, nor did they spend money on attractions that would drive front gate admissions. They're not making the returns investors expect. They're heavily in debt due bad spending decisions in past years and they've got a large shareholder whose attempting to overturn the upper management. The recent self-serving decisions of Six Flags management in reference to the severance packages speaks wonders about their true intentions. It's an ugly situation that may get worse. {Astroworld didn’t keep too up-to-date on “what is in” and what kids like and “new technology”. Also they always had broken rides and the park at times was real messy from my personal experience. } –me(: http://www.themeparkinsider.com/news/response.cfm?ID=573 { "@context": "http://schema.org", "@type": "ImageObject", "contentUrl": "http://images.slideplayer.com/14/4268388/slides/slide_7.jpg", "name": "AstroWorld Six Flags Astroworld had tons of CORPORATE DEBT Astroworld may reside on valuable land and have parking problems, but Houston is not a small rural city.", "description": "If you look at the capital improvements for Astroworld in recent years you can argue that Six Flags planned for its failure. Amusement parks must constantly reinvent themselves to keep people coming back and in recent years Six Flags did not follow this rule in Houston. They did not invest in maintaining or upgrading the property, nor did they spend money on attractions that would drive front gate admissions. They re not making the returns investors expect. They re heavily in debt due bad spending decisions in past years and they ve got a large shareholder whose attempting to overturn the upper management. The recent self-serving decisions of Six Flags management in reference to the severance packages speaks wonders about their true intentions. It s an ugly situation that may get worse. {Astroworld didn’t keep too up-to-date on what is in and what kids like and new technology . Also they always had broken rides and the park at times was real messy from my personal experience. } –me(: http://www.themeparkinsider.com/news/response.cfm?ID=573

8 Amusement Parks & Fairs No longer a Novelty New technology is the MAIN reason why amusement parks and fairs are no longer a novelty to kids. Today we have so much & our decade is all about technology. With all the new 3D games, 3D & 4D TV’s and interactive games like Wii & Xbox Kinect, plus all other video games, and internet with social networking like; Facebook, kids spend most their time with technology. Economy & family’s finacial problems is the second MAIN reason why amusement parks & fairs have financial problems, if families had more money to go more they probably would but because so many people are having to cut back on spending they are forced to stay home or do fun things cheaper, or to buy new technology that last for years. (instead of spending hundreds on going on a trip to Disney world or at least just a hundred on going to a amusement park or fair for the day, it’s more convenient and cheaper to buy a game that your kid can be entertained with more than once and for a long time. Kids also want more and more variety and new look. Its all about NEW & extreme.

9 How parks can possibly market their products more effectively Add video game rooms with xbox, play station, have a game where you wear a suit and the suit and game read your body movements like the Xbox kinect but you wear a helmet also or sit in a ride so its like your actually in the game. Lower admission and parking, have more space for parking, have a limit on how many people can enter the park, have special days where the prices are lowered like on holidays, kids make all A’s or B’s on report card then price is lowered. Have rides that have 3D & 4D inter-act-ment. (slide not finished)

10 http://en.wikipedia.org/wiki/Six_Flags_Astroworl d http://en.wikipedia.org/wiki/Six_Flags_Astroworl d http://www.ultimaterollercoaster.com/forums/cg i/forum1.cgi?read=164588 (http://www.ultimaterollercoaster.com/profiles/b ankteller/) http://www.ultimaterollercoaster.com/forums/cg i/forum1.cgi?read=164588http://www.ultimaterollercoaster.com/profiles/b ankteller/ http://blogs.har.com/223/8095/Houston's-Old- Astroworld-Site-Changes-Hands/ http://blogs.har.com/223/8095/Houston's-Old- Astroworld-Site-Changes-Hands/ https://wikis.nyu.edu/display/mediahistoryofny/ Nothing+Remains+a+Novelty https://wikis.nyu.edu/display/mediahistoryofny/ Nothing+Remains+a+Novelty


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