Six Flags announced this week its eighth consecutive year of record financial performance, with revenue growing $40 million to $1.4 billion in 2017. The company attributed the growth to its pricing strategy, international licensing program and an increase in attendance.
Six Flags owns 20 properties across North America
Attendance at Six Flags properties grew by 0.3 million to 30.4 million guests, a 1-percent increase due in part to the acquisition of Waterworld California and the opening of Hurricane Harbor in Mexico.
Guests with season passes and memberships accounted for 63 percent of visits. The company refers to this group of season pass and membership holders as the “active pass base,” which increased 10 percent to a new all-time high at the end of 2017. Growing this group remains a focus of the company’s growth strategy, as it provides a “recurring revenue stream and a platform to further grow attendance as the company expands its network of parks.”
And it’s a no-brainer: each of these loyal guests generates on average more than double the revenue and cash flow of a one-time guest over the course of a season.
New-for-2017 Joker at Six Flags Great America
Meanwhile, fourth quarter 2017 revenue grew $17 million or 7 percent over the fourth quarter of 2016 to a new record of $257 million. The strong revenue growth was primarily driven by a $9 million increase in international licensing revenue and a 7 percent increase in guest spending per capita, which was $37.90, a 7-percent increase over the fourth quarter of 2016. This increase was driven by higher ticket prices and higher in-park spending.
Total guest spending per capita in 2017 was $41.61, an increase of $0.54 compared to 2016.
“With our growing Active Pass Base, ongoing price increases, higher penetration of culinary programs, and new international licensing agreements and waterparks, we are very well-positioned to deliver another record year in 2018,” said Jim Reid-Anderson, Chairman, President and CEO.
Read the full news release from Six Flags here. And see what Six Flags parks are planning for the 2018 season here.
What do you think about Six Flags’ 2017 performance? Share your thoughts in the comments section below.
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