Revenue / 10.19.22
Family First: Beloved Characters, Toys, TV Shows Fuel Sector Strength
VenuesNow (10/11/22) Zoltak, James
Key players in the family entertainment segment of the live events industry cite strong demand, skyrocketing merchandise sales and parents' resurgent confidence in venue safety as contributing to a robust sector. Family Entertainment Holdings CEO Ken Hudgens says his company has been posting year-over-year growth in the number of domestic and international bookings. He points to the success of the Hot Wheels Monster Trucks Live show, which has at least 30 dates anticipated domestically for next year. Seeing its best year ever, meanwhile, is Round Room Live, which produces touring family entertainment based on known intellectual property like the cartoon "Peppa Pig" and preschooler anthem "Baby Shark." Co-founder Stephen Shaw says, "The one thing we're seeing that we wonder if it's going to come back to reality is merch sales. We're seeing incredibly strong merch sales, retail, e-commerce. All of that has been higher than it was pre-pandemic and that's across the board, throughout our kids division and exhibitions and experiences division." Promoters also agree that affordable pricing is key when an entire family is attending. Stephen Grybowski, senior director of the Rock and Roll Playhouse family concert series, does not see a glut in programming, with the family entertainment market offering abundant room for expansion. Hudgens points to an appetite for new content, while Terrapin Station Entertainment CEO Jonathan Shank lists staff shortages, scarce resource availability and compromised supply timelines as lingering industry problems from 2022.
Read the full story from VenuesNow.