Core Insights - Despite a challenging economic environment, domestic tourism consumption during the May Day holiday showed positive growth, with 314 million domestic trips taken, a year-on-year increase of 6.4%, and total spending reaching 180.27 billion yuan, up 8.0% [1] - The "IP + cultural tourism" model, particularly represented by theme parks, is a focal point, but it faces stagnation in growth after a rebound in 2023, raising questions about its future potential [1][4] - Major theme parks like Shanghai Disneyland and Beijing Universal Studios reported significant visitor numbers and ticket sales during the holiday, indicating a temporary recovery in the sector [2][4] Industry Performance - Beijing Universal Studios saw ticket sales increase by approximately 213% year-on-year, with peak daily attendance reaching nearly 50,000, resulting in ticket revenue exceeding 170 million yuan during the holiday [2] - Shanghai Disneyland's ticket revenue during the holiday is estimated to surpass 310 million yuan, reflecting strong consumer interest [2] - Happy Valley parks, under the ownership of Overseas Chinese Town A, attracted over 800,000 visitors during the holiday, marking a nearly 20% increase year-on-year [2] Financial Challenges - Despite the holiday's positive indicators, many theme park operators are facing financial difficulties, with companies like Huasheng Fantawild reporting a 4.18% decline in annual revenue from theme park operations [6] - Huasheng Fantawild's operating costs increased by 9.17%, leading to a significant drop in gross margin [6][7] - Overseas Chinese Town A also reported a 13.03% decrease in tourism revenue for 2024, with total visitors down by 13.7% [8] Future Prospects - The industry is witnessing a shift towards developing proprietary IPs and enhancing visitor experiences through innovative attractions and collaborations with well-known franchises [12][14] - New international theme parks, such as the Warner Bros. Studio Tour in Shanghai and the Peppa Pig Theme Park, are set to enter the market, intensifying competition [16][18][20] - Domestic parks are exploring various IP strategies, including partnerships and themed attractions, to enhance their appeal and drive visitor engagement [12][14] Consumer Trends - The rise of "emotional consumption" is evident, with products and experiences that cater to consumer emotions gaining traction, although the overall spending on non-essential entertainment remains cautious [1][4] - New tourism trends such as "taste tours," "performance tours," and "family-friendly experiences" are emerging, reflecting a diversification in consumer preferences [1]
消费疲软+新势力夹攻，本土IP主题乐园逆周期突围路在何方？
3 6 Ke·2025-05-16 01:57