Posted Thursday, December 12, 2002 3:52 AM | Contributed by Jeff
Embattled media company Vivendi Universal is weighing how deeply to cut costs at its U.S. entertainment divisions to dress them up for a possible spin-off or sale next year, industry sources said on Wednesday. When Vivendi issued third-quarter results late in November, the entertainment group, known as Vivendi Universal Entertainment, saw its revenues drop 24 percent on a proforma basis due to fewer movies and lower theme park attendance.
Read more from Reuters.
Wahooskipper's recurring nightmare:
Six Flags Universal. Ugh!
Funny how I posted about Vivendi on the *news item* earlier this week, regarding the expenditure for the new park. Seems like the whole concept of spending within your means is lost on *some* folks, huh?
Wahoo, PLEASE stop having that nightmare....I don't want to *catch it*!
HIPPIE- Highly intelligent person pursuing interesting endeavors...;)
Reduce, Reuse, Recycle - unless you've got a spare planet!
It's hard to believe that they'd be down that badly because in Orlando, in my opinion, they still have the best product there. My guess is that the marketing sucks. Good example would be the whole Grinchmas thing. Had I not been there for it, I wouldn't have known about it. Yet I see "Walt's 100th" spots constantly.
They are definitely taking cost cutting measures all across the company. Vivendi owns mp3.com - I've had music on mp3.com for just shy of 4 years now. Last night mp3.com sent out an e-mail detailing sweeping changes at the site. Artists (that's what they call us people who upload music :) ) will pretty much have to pay a monthly fee to have any sort of usable presence on the site stating with the new year. In addition, they are discontinuing "pay for play" - which was a system that paid artists when their music was downloaded.
Lots of cost cutting measures going on. I think they're just "feeling it" in general. Just seemed too perfect that I got that e-mail last night then saw this story here this morning.
From the travelling public, I would guess that roughly 3/4 of the non-residents go to Orlando with Disney first in their mind. They may throw in Universal but the main reason for the trip is to see the mouse.
Funny thing is, I bet Universal/IOA has a higher percentage of in-state visitors than does WDW. I agree with you Jeff. Of the four major Disney parks and the 2 Universal parks, IOA is the best overall product at this point.
.. word around the campfire at IAAPA was that one park chain already talked to them about IOA and were basically told .. not a chance they would sell it to them.
June 11th, 2001 - Gemini 100
VertiGo Rides - 82
Technical Services - 2002
Frightzone Screamster - 2002
I agree about the lack of advertising support. Is there a person on earth that hasn't seen a million of the WDW spots. Here in Montreal, we even get them on our local news. I have never seen a Universal commercial here ever.
I made my first trip to IOA a year ago and loved every minute of it. There were coasters for me and everything else for my wife who hates coasters. Can't wait to go back and check out the other side.
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