Following another steep drop in SeaWorld’s quarterly earnings, the post-‘Blackfish’ impact is still being heavily felt at its destination attractions.
However, the company’s non-SeaWorld parks performed well said CEO Jim Atchison, describing it as ‘a tale of two cities.’
SeaWorld owns Busch Gardens, Aquatica and Discovery Cove which did well, he said, but not enough to halt a third-quarter net income fall of 28%.
In its quarterly report the company said it is still being hurt by a ‘combination of factors including negative media attention in California along with a challenging competitive environment, particularly in Florida.’
Attendance fell by half a million people during the quarter, compared to 2013.
"We are executing a cost savings plan that is expected to deliver approximately $50 million of annual cost savings by the end of 2015," Atchison said in a document sent to SeaWorld investors.
The SeaWorld brand also plans to ramp up advertising spend.
In San Diego, a campaign will continue to focus on conservation efforts, while in fiercely competitive Orlando, marketing will emphasize its theme park style attractions such as the Manta and Kraken roller coasters.
Atchison also revealed a few more details about international expansion plans away from the glare of the ‘Blackfish’ outcry.
"The first phase of the project is expected to open in 2020 and we also continue to work with Village Roadshow Theme Parks on development opportunities in Asia and other international markets," he said.
