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Harry Potter theme parking on its way |
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Written by Beth Kassab, MCT
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Friday, 01 June 2007 |
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The tourism industry buzzed feverishly this week with the announcement that Universal Orlando secured the rights to build an attraction centered on the hugely popular Harry Potter character.
"Properly conceived and executed, this story line absolutely has the potential to be one of the all-time biggest hits in the theme-park industry," said Dennis Speigel, president of International Theme Park Services Inc. in Cincinnati.
Universal intends to spend between $230 million to $265 million to create the "The Wizarding World of Harry Potter" at Islands of Adventure along with a previously announced Simpsons attraction, according to a filing with the Securities and Exchange Commission.
This year alone, the expenditure is expected to reach between $75 million and $85 million, the filing said.
Speigel likened the Potter stories to the "timeless" and age barrier-breaking qualities of the "Wizard of Oz."
Indeed, Harry Potter is so hot, the title character in the series of books about a world of witches and wizards scores just four popularity points behind pop culture icon and new cross-town competition Mickey Mouse, according to market research.
Marketing executive Steven Levitt said Harry Potter carries big potential according to his company's Q Scores, which measure how familiar audiences are with specific characters, brands or personalities as well as how many people rank the character as one of their "favorites."
The Harry Potter book series measures 39 and Mickey Mouse boasts a score of 43. Santa Claus trounces both at 56. Superman, the comic book version, scores at 26.
"Eight out of 10 people already know the Harry Potter character," said Levitt, president of Marketing Evaluations Inc. The Q Scores Company. "The way it's going to grow (among) people who aren't saying, `it's one of my favorites' is a new iteration of Harry Potter - like a theme park attraction."
Universal's challenge will be to create an attraction that delivers on its promise to exceed Potter fans' expectations for authenticity to the stories.
The "Wizarding World" based on the phenomenon created by British author J.K. Rowling, who has sold more than 300 million books, is expected to be open by summer 2010. The four movies released so far have pulled in $3.5 billion.
Universal Chairman Tom Williams told the Orlando Sentinel that the Harry Potter attraction would be like "a theme park within a theme park" spanning about 20 acres of Islands of Adventures' 85 total acres.
"Warner Bros., J.K. Rowling, Universal: We're all completely committed," he said. "We're committed financially; we're committed intellectually to deliver a product that exceeds expectations."
The 10-year licensing deal between Universal City Development Partners and Warner Bros. Consumer Products Inc. was signed May 25 and includes an option for two five-year renewal periods.
The agreement also requires Universal to pay Warner Bros. licensing fees, merchandise royalties and other payments, though specifics were not disclosed.
Williams said that he was "still kind of pinching myself" over the deal. The pressure to build an attraction that is true to the Harry Potter brand, he said, will be intense, though the company is looking forward to creating the smells, sounds and texture of Hogwarts Castle and the Forbidden Forest.
"To have a chance to bring Harry Potter to life is right up our alley," he said.
Local tourism boosters are hoping the celebrity of the character will mean more visitors to Orlando.
"Harry Potter is printed in 63 languages; that shows you the power of the brand," said Gary Sain, president of the Orlando/Orange County Convention & Visitors Bureau. "If we can tap into that and create that interest to visit Orlando, that's superb."
Sain said he expected a large boost among international travelers, who have waned in recent years. The attraction also could give way to more repeat visitors who will return to Orlando to see what's new.
At the same time, the Harry Potter attraction could inject new competition among theme parks in Orlando, where Universal has experienced declining visitors in recent years while Walt Disney World has seen attendance continue to increase.
A Disney spokeswoman even lauded Universal's announcement.
"Whenever one of our region's tourism industry players makes an investment in their business, it's good for our industry and our community as a whole," said Disney spokeswoman Kim Prunty. "That's why we continue to invest in our business."
Disney's popular "Year of a Million Dreams" promotional campaign that runs through the end of the year and plans for a new ride based on Toy Story to open next year are likely to keep the race for fresh attractions at full speed.
"I think Cinderella's Castle now has a new rival: Hogwart's Castle," said Speigel, the theme park consultant. "This is going to be a tough one to one-up right now."
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Sara K. Clarke of the Orlando Sentinel staff contributed to this report. | Only registered users can write comments.
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