Sunday Special: The Enduring Power of Amusement Parks

The gist

Theme parks have evolved from quirky, independent attractions into IP-driven profit engines for Disney and Universal, which generated $10 billion in combined theme park profits in 2024 versus $2 billion a decade earlier. As streaming has weakened movies and TV, these companies are pouring billions into parks—Universal spent at least $7 billion on its new Epic Universe park in Orlando—but the shift toward branded experiences and rising admission costs are making parks less accessible while raising questions about safety and nostalgia.

Key takeaways

• The IP transformation: Disney and Universal increasingly theme rides around owned intellectual property rather than original concepts. Disney rethemed Tower of Terror from Twilight Zone (which it didn't own) to Guardians of the Galaxy, and the ride became twice as popular—signaling that younger audiences care more about recognizable franchises than classic storytelling.
• Theme parks are now the growth engine: Disney and Universal's theme park divisions generated $10 billion in profit in 2024, up from $2 billion in 2014, making parks more important to these companies than their struggling film and TV divisions.
• Staggering price inflation: A Disney Princess breakfast for five people cost $938; Six Flags Magic Mountain fast passes cost $140-$260 per person on top of admission; Disneyland parking and meals make family visits prohibitively expensive for many Americans.
• Gamification replaces immersion: Newer rides like Mario Kart at Universal use augmented reality goggles where guests shoot targets while riding, replacing the story-based, passive immersion of classic dark rides like Haunted Mansion that once defined the park experience.
• A tragedy at Epic Universe: Stardust Racers, the park's marquee roller coaster, is closed following a death and safety complaints, which undermines the "escape from reality" appeal that makes parks attractive.
• Affordable alternatives exist: Knoebels in Pennsylvania offers free admission, free parking, and pay-per-ride tickets (breaking the all-inclusive gate model), plus excellent wooden coasters like Phoenix. Dollywood in Pigeon Forge, Tennessee combines charm, craftsmanship, and quality rides like Lightning Rod at reasonable prices.
• Roller coaster design is pushing human limits: Innovations like spinning launch coasters (The Ride to Happiness in Belgium) and track retrofitting technology (Rocky Mountain Construction's Twisted Colossus) represent genuine engineering breakthroughs that continue to evolve the medium.

Notable quotes

• Brooks Barnes: "Increasingly these big media companies, mostly Universal, NBC Universal, and Disney, have had enormous struggles in their core businesses of movies and television as we've all moved to streaming, right? And theme parks have become their most reliable growth business."
• Makoto Murphy: "Part of the reason that I go on roller coasters, it is that controlled chaos or that controlled fear... It is not a lie when I say I think I am going to die. But it is that chasing of an excitement that you just cannot get when you are living your normal life."
• Gilbert Cruz: "By the way, can I just make a point that the way things used to be? It used to be affordable."

Worth a full listen?

Listen if you're planning a theme park trip, care about media industry economics, or enjoy hearing thoughtful cultural criticism wrapped around genuine expertise about roller coaster engineering and park history—otherwise the TLDR captures the key reporting.