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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
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
ProSlide Technology, Inc.

A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
Vekoma Rides Manufacturing B.V.

Vekoma Rides has a large variety of coasters and attractions. [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [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 - Keynote | Moby Dick - Friends to the rescue!
It’s extremely important for us to show you the process behind every content we produce. Each of our titles stems from deep research, focused on giving you the kinds of content that best fit your venues and target audience. Find out more...
More videos:
Red Raion TV - Testimonial: Leolandia – Red Raion
Red Raion Showreel 2022 – Red Raion
ProSlide's all-in-one waterplay entertainment center – Proslide Tech Inc
+ More videos  

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05-06 Mar 2023

CryoCON 2023

Renaissance at Plano Legacy West Hotel, Dallas, United States
10-12 May 2023

Asia Pool & Spa Expo

China Import & Export Fair Complex, China
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©Cybertrek 2023
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
Carowinds expands to year-round opening, confirms Aeronautica opening for 2023
Carowinds theme park in North Carolina, US, has launched year-round operations this month (January 2023).
Disney hints at new gate for Walt Disney World as part of Lake Nona campus development
Disney has filed a planning application that kickstarts the group's plans to create a future regional campus and HQ in Florida, US.
London's Natural History Museum works with Thoughtworks and Amazon Web Services on Urban Nature project
Natural History Museum has embarked on a project which will turn the iconic museum's London location into a biologically diverse green space.
London to get its own "Garden in the sky", as Camden Highline gets green light
Planning approval has been granted for Camden Highline, a project to transform a section of disused railway into a new elevated urban park for London.
Continuum Attractions takes over Loch Ness attraction and pledge £1.5m investment
Continuum Attractions has acquired The Loch Ness Centre and Exhibition near Inverness, Scotland, UK.
Esbjerg’s landmark maritime center, designed by WERK Arkitekter and Snøhetta, opens to the public
A new landmark maritime centre has opened to the public in Esbjerg, Denmark.
SEVEN to open world’s first indoor Discovery Adventures centres in Saudi Arabia
Saudi Entertainment Ventures (SEVEN) has signed an exclusive partnership agreement with Warner Bros. Discovery to bring purpose-built indoor adventures centres to the Kingdom.
Eden Project Morecambe secures £50m Levelling Up investment
Plans to create a new Eden Project North attraction in Morecambe, UK, have been given a major boost after the central government pledged to support the scheme with £50m worth of funding.
David Willrich takes the baton from Terry Monkton as chair of Experience UK
David Willrich has been appointed chair of Experience UK, replacing the outgoing Terry Monkton, who has steered the organisation over the past two years.
Universal to launch two new attraction concepts – one in Texas and another in Las Vegas
Universal Parks & Resorts has revealed plans to launch two entirely new visitor attractions concepts – a family-focused theme park and resort in Texas and a year-round horror experience in Las Vegas.
SeaWorld's Arctic Coaster to raise awareness of devastation of climate change
SeaWorld will open a new Arctic Rescue coaster at its San Diego theme park in early 2023.
Super Nintendo World opening at Universal Studios Hollywood in 2023
The highly-anticipated Super Nintendo World will open to visitors at Universal Studios Hollywood on 17 February 2023.
+ More news   
 
COMPANY PROFILES
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
ProSlide Technology, Inc.

A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
Vekoma Rides Manufacturing B.V.

Vekoma Rides has a large variety of coasters and attractions. [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [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 - Keynote | Moby Dick - Friends to the rescue!
It’s extremely important for us to show you the process behind every content we produce. Each of our titles stems from deep research, focused on giving you the kinds of content that best fit your venues and target audience. Find out more...
More videos:
Red Raion TV - Testimonial: Leolandia – Red Raion
Red Raion Showreel 2022 – Red Raion
ProSlide's all-in-one waterplay entertainment center – Proslide Tech Inc
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

05-06 Mar 2023

CryoCON 2023

Renaissance at Plano Legacy West Hotel, Dallas, United States
10-12 May 2023

Asia Pool & Spa Expo

China Import & Export Fair Complex, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2023

ABOUT LEISURE MEDIA
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