Don’t think of it like Disneyland, says the Netflix boss, but it does look like the first step to a full-scale challenge
In mid-June, Netflix announced the locations of its first two Netflix Houses – “experiential entertainment venues” in vast shopping malls that are the exact opposite of the Netflix and Chill experience.
“Disney’s parks, cruises, theatre shows and merchandise is 30-40 per cent of revenue and a big majority of profits,” says Tom Harrington of industry experts Enders Analysis. Although Netflix is some way behind them, Disney, he says, “is the obvious North Star when it comes to creating entire worlds around IP creations and characters”.
Unlike actual royal balls, there were two or three balls per day when crowds in vaguely Regency costumes queued to see show memorabilia before jigging around in a loose version of dances from the show. Over in Sao Paulo, the Stranger Things Experience is currently housed in the Shopping Eldorado mall – it’s a four-room walk-through with memorabilia, a little interactivity and some 3D effects.
Indeed, in recent troubled times – COVID excepted – it’s the theme parks that Disney has relied on. In 2023, the parks and experiences division was the best-performing part of Disney’s business. It posted revenue of $32.5 billion in 2023, which was 36 per cent of the company’s total revenue but 70 per cent of its operating income. Disney’s entertainment business, including movies and TV, represented 45 per cent of revenue but just 11 per cent of operating income.
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