Experience economy - Joe Pine | attractionsmanagement.com
GET ATTRACTIONS MANAGEMENT
magazine
Yes! Send me the FREE digital edition of Attractions Management and the FREE weekly Attractions Management ezines and breaking news alerts!
Not right now, thanksclose this window
POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs   News   Features   Video    Products   Company profilesProfiles   Magazine   Handbook   Advertise  
Experience economy
Joe Pine

Experience platforms are one of the biggest growth opportunities in today’s experience economy, says author and thought leader Joe Pine. He explains how to approach them


Platforms – places where buyers and sellers come together to exchange money for offerings – are not a new phenomenon, at least not in the physical world. Commodities have been sold in farmers markets forever.

High streets and shopping centres have long provided platforms for tangible goods, while malls were more a place for services, such as shoe repair and dry cleaners.

Disneyland is itself a platform, bringing together numerous experiences in one place for guests to enjoy and remember (even if an operational platform, rather than one with offerings from many different suppliers.)

Digital technology has amped up the power and network effects of such transactional platforms, enabling millions and potentially billions of buyers to connect with a boundless number of sellers. Amazon and eBay were early pioneers of goods platforms on the Internet, while Royal FloraHolland switched its commodity flower auctions to digital decades ago. Digital service platforms proliferate across most industries, from Uber to Fiverr to Grubhub, Bumble, Venmo and on and on the list grows. 

And, increasingly, digital platforms offer experiences. Think of Airbnb, which originally sold access to a sofa, a room, a house, but in 2016 created Airbnb Experiences to enable those staying in Airbnb host properties to connect with local experience stagers, particularly those that made guests feel like a local in their visited locale.

Think of the value unleashed – consumers gained easier access to a better overarching experience; local experience stagers gained easier access to a set of consumers eager to experience the locale; and Airbnb got a piece of every transaction.

When the pandemic hit and the platform pivoted to digital experiences, this enabled Airbnb to continue garnering income, while saving many companies that would have gone under without visitors, and saving the sanity of many consumers. 

Operational Experience Platforms
Earlier I described Disneyland as a physical operational platform because it wasn’t multisided like all of the rest above: The Walt Disney Company is not the only experience stager with offerings in the space. It also was one of the first to offer a digital operational platform with its MyMagic+ system in 2013, enabling visitors to connect to, buy, and operate experiences (as well as many services on which the experiences were built, such as park admission and hotel room entry). Guests particularly interacted with it through the IoT device the company created, MagicBand. 

John Padgett, one of the original five members on the project, eventually left for Carnival Corp. where at the Consumer Electronics Show in 2017 he and CEO Arnold Donald announced the Ocean Medallion. This operational experience platform set a new bar for its incredible degree of customisation, enabling every crew member to greet and interact with every guest by name and act on their preferences.

The platform creates a mass customised itinerary for each guest and party and as it learns more – creating what Carnival calls a “guest genome” – it can send out personal experience invitations to enhance itineraries. The Ocean Medallion can even learn things such as when a guest is on the pool deck with his kids his favorite drink is iced tea with no lemon; in the bar with his buddies it’s a mojito; and in the restaurant with his spouse it’s a glass of Shiraz. 

Find your role to play in experience platforms
Many companies, such as Briq Bookings, accesso, and Holovis are now providing experience platforms that attractions can customise and deploy to their own operations. Every theme park, amusement, family entertainment centre, or attraction of any significant size should be looking at how it can embrace such platforms to enhance and customise operations to each individual guest. 

Don’t neglect your presence on the multisided transactional platforms such as Airbnb, Amazon Explore, Red Balloon and Virgin Experience Days – on and on that list goes. (I think there is at least one operating in nearly every country in the world.) They can be great ways to be discovered and booked by consumers, both local and global.

And despite the tremendous growth in all these kinds of platforms, there’s room for many more. The Experience Economy is set to grow tremendously, for the one thing we learned for sure from the pandemic is that, at least in the developed world, we don’t need more stuff. What gives life meaning is the shared experiences we have with our family, our loved ones, our friends, our colleagues, and even with complete strangers. 

Experience platforms can connect us to these meaningful experiences, and power, enhance, and customise them to our individual wants, needs, and desires.

More: www.attractionsmanagement.com/joepine

Disney’s MagicBand+ debuts this year at Walt Disney World Credit: Disneyland Resort
Disney’s MagicBand+ debuts this year at Walt Disney World Credit: Disney
Carnival’s Ocean Medallion experience platform “set a new bar for its incredible degree of customisation,” says Pine Credit: Carnival Corporation
Credit: Carnival Corporation
De Kartfabrique in the Netherlands uses Briq Bookings to customise its offer Credit: Courtesy of De Kartfabrique Utrecht
Credit: Courtesy of De Kartfabrique Utrecht
COMPANY PROFILES
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
TechnoAlpin

TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
iPlayCO

iPlayCo was established in 1999. [more...]
+ More profiles  
FEATURED SUPPLIER

Attractions industry to reunite this September at IAAPA Expo Europe in London
For the first time in more than a decade, industry leaders from across the global attractions industry will once again gather in London as part of the annual IAAPA Expo Europe, the sector’s premier international event. [more...]
VIDEO GALLERY

Red Raion TV - Opening Event: FICO Eataly World
Last July 7th, Red Raion took part in the opening event of FICO Eataly World, the Italian theme park dedicated to food - the only one worldwide! Find out more...
More videos:
Red Raion Showreel 2021 – Red Raion
ProSlide's all-in-one waterplay entertainment center – Proslide Tech Inc
Keynote | Moby Dick - Friends to the rescue! – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

03-04 Sep 2022

HEALING SUMMIT 2022 - The Healing of Everything

Pine Cliff Resort, Portugal
27-29 Sep 2022

International Congress on Thermal Tourism

Ourense, Ourense, Spain
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

Issue 2 Volume 27


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

Issue 1 Volume 27


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

Issue 4 Volume 26


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2021 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

06 Apr 2020 issue 153


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2019


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022
Jobs    News   Products   Magazine
Experience economy
Joe Pine

Experience platforms are one of the biggest growth opportunities in today’s experience economy, says author and thought leader Joe Pine. He explains how to approach them


Platforms – places where buyers and sellers come together to exchange money for offerings – are not a new phenomenon, at least not in the physical world. Commodities have been sold in farmers markets forever.

High streets and shopping centres have long provided platforms for tangible goods, while malls were more a place for services, such as shoe repair and dry cleaners.

Disneyland is itself a platform, bringing together numerous experiences in one place for guests to enjoy and remember (even if an operational platform, rather than one with offerings from many different suppliers.)

Digital technology has amped up the power and network effects of such transactional platforms, enabling millions and potentially billions of buyers to connect with a boundless number of sellers. Amazon and eBay were early pioneers of goods platforms on the Internet, while Royal FloraHolland switched its commodity flower auctions to digital decades ago. Digital service platforms proliferate across most industries, from Uber to Fiverr to Grubhub, Bumble, Venmo and on and on the list grows. 

And, increasingly, digital platforms offer experiences. Think of Airbnb, which originally sold access to a sofa, a room, a house, but in 2016 created Airbnb Experiences to enable those staying in Airbnb host properties to connect with local experience stagers, particularly those that made guests feel like a local in their visited locale.

Think of the value unleashed – consumers gained easier access to a better overarching experience; local experience stagers gained easier access to a set of consumers eager to experience the locale; and Airbnb got a piece of every transaction.

When the pandemic hit and the platform pivoted to digital experiences, this enabled Airbnb to continue garnering income, while saving many companies that would have gone under without visitors, and saving the sanity of many consumers. 

Operational Experience Platforms
Earlier I described Disneyland as a physical operational platform because it wasn’t multisided like all of the rest above: The Walt Disney Company is not the only experience stager with offerings in the space. It also was one of the first to offer a digital operational platform with its MyMagic+ system in 2013, enabling visitors to connect to, buy, and operate experiences (as well as many services on which the experiences were built, such as park admission and hotel room entry). Guests particularly interacted with it through the IoT device the company created, MagicBand. 

John Padgett, one of the original five members on the project, eventually left for Carnival Corp. where at the Consumer Electronics Show in 2017 he and CEO Arnold Donald announced the Ocean Medallion. This operational experience platform set a new bar for its incredible degree of customisation, enabling every crew member to greet and interact with every guest by name and act on their preferences.

The platform creates a mass customised itinerary for each guest and party and as it learns more – creating what Carnival calls a “guest genome” – it can send out personal experience invitations to enhance itineraries. The Ocean Medallion can even learn things such as when a guest is on the pool deck with his kids his favorite drink is iced tea with no lemon; in the bar with his buddies it’s a mojito; and in the restaurant with his spouse it’s a glass of Shiraz. 

Find your role to play in experience platforms
Many companies, such as Briq Bookings, accesso, and Holovis are now providing experience platforms that attractions can customise and deploy to their own operations. Every theme park, amusement, family entertainment centre, or attraction of any significant size should be looking at how it can embrace such platforms to enhance and customise operations to each individual guest. 

Don’t neglect your presence on the multisided transactional platforms such as Airbnb, Amazon Explore, Red Balloon and Virgin Experience Days – on and on that list goes. (I think there is at least one operating in nearly every country in the world.) They can be great ways to be discovered and booked by consumers, both local and global.

And despite the tremendous growth in all these kinds of platforms, there’s room for many more. The Experience Economy is set to grow tremendously, for the one thing we learned for sure from the pandemic is that, at least in the developed world, we don’t need more stuff. What gives life meaning is the shared experiences we have with our family, our loved ones, our friends, our colleagues, and even with complete strangers. 

Experience platforms can connect us to these meaningful experiences, and power, enhance, and customise them to our individual wants, needs, and desires.

More: www.attractionsmanagement.com/joepine

Disney’s MagicBand+ debuts this year at Walt Disney World Credit: Disneyland Resort
Disney’s MagicBand+ debuts this year at Walt Disney World Credit: Disney
Carnival’s Ocean Medallion experience platform “set a new bar for its incredible degree of customisation,” says Pine Credit: Carnival Corporation
Credit: Carnival Corporation
De Kartfabrique in the Netherlands uses Briq Bookings to customise its offer Credit: Courtesy of De Kartfabrique Utrecht
Credit: Courtesy of De Kartfabrique Utrecht
LATEST NEWS
Jake McCoy joins Ted leadership team as director of operations
The Experience Department (Ted) has expanded its European-based leadership team, appointing Jake McCoy to the new position of director of operations.
Fabland Valley Resort launces new walkthrough attraction designed by Triotech
Fabland Valley Resort in Xiangyang in the Province of Hubei, China has opened its new "double walkthrough" attraction.
Aussie World launches Dingo Racer coaster
The Aussie World theme park on Australia’s Sunshine Coast has launched its first rollercoaster.
Wake The Tiger - dubbed the first-ever 'amazement park' - opens in Bristol, UK
Wake The Tiger - described as the world's first 'amazement park' - has opened its doors to the public in Bristol, UK.
Turkish resort opens first Rift waterslide, designed by Polin
The Titanic Deluxe Golf Belek resort in Antalya, Turkey, has launched the world’s first Rift waterslide.
Avengers Campus opens at Disneyland Paris
Disneyland Paris has hosted a soft opening of its new Avengers Campus Paris, ahead of its opening to the public on 20 July.
Industry mourns death of Meow Wolf co-founder, Matt King
Meow Wolf, the immersive arts and entertainment company, has announced the death of its co– founder, Matt King.
FlowRider rebrands to reflect 'past and future'
FlowRider, the stationary wave machine pioneer, has undergone a rebrand for the first time since its launch in 1991.
David Adjaye and Ralph Appelbaum selected for £57m International Slavery Museum and Maritime Museum project
Adjaye Associates and Ralph Appelbaum Associates (RAA) have been named as the preferred bidders to lead the design of a £57m major redevelopment of the International Slavery Museum and Maritime Museum in Liverpool, UK.
Liseberg's Grand Curiosa Hotel to open in 2023
Liseberg theme park in Sweden has confirmed the opening date for its new Grand Curiosa hotel.
London's Harry Potter studio tour to open Professor Sprout’s Greenhouse
Warner Bros. Studio Tour London will launch a new area on 1 July, further expanding the popular Harry Potter-themed visitor attraction in Leavesden.
Juneteenth Museum by Bjarke Ingels Group has been designed to inspire spiritual uplift
Detailed plans have been revealed for the National Juneteenth Museum in Fort Worth, Texas, US.
+ More news   
 
COMPANY PROFILES
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
TechnoAlpin

TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
iPlayCO

iPlayCo was established in 1999. [more...]
+ More profiles  
FEATURED SUPPLIER

Attractions industry to reunite this September at IAAPA Expo Europe in London
For the first time in more than a decade, industry leaders from across the global attractions industry will once again gather in London as part of the annual IAAPA Expo Europe, the sector’s premier international event. [more...]
VIDEO GALLERY

Red Raion TV - Opening Event: FICO Eataly World
Last July 7th, Red Raion took part in the opening event of FICO Eataly World, the Italian theme park dedicated to food - the only one worldwide! Find out more...
More videos:
Red Raion Showreel 2021 – Red Raion
ProSlide's all-in-one waterplay entertainment center – Proslide Tech Inc
Keynote | Moby Dick - Friends to the rescue! – Red Raion
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

03-04 Sep 2022

HEALING SUMMIT 2022 - The Healing of Everything

Pine Cliff Resort, Portugal
27-29 Sep 2022

International Congress on Thermal Tourism

Ourense, Ourense, Spain
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS