MMICC 2010 - NUS

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MMICC 2010 - NUS

  1. 1. Turning Dreams <br />IntoReality<br />
  2. 2. AGENDA<br />Situational Analysis <br />Issues <br />MULTISENSORY<br />EXPERIENCE<br />GEOGRAPHIC<br />EXPANSION<br />Implementation <br />Financials <br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  3. 3. Valuable Resources with strong focused operations <br />Valuable Resources<br /><ul><li> Creative talents
  4. 4. Strong brand name</li></ul>Strong Focused Operations<br /><ul><li> 13 Resident, 10 Touring shows
  5. 5. Operating mostly in North America
  6. 6. Partners with Casino Operators</li></ul>Lucrative Target Market <br />Key Principles <br /><ul><li> Show before business
  7. 7. Creative challenge and control
  8. 8. Affluent & sophisticated individuals</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  9. 9. Need for expansion and maintaining creative edge<br />Internal forces <br />Expression of Creativity<br /><ul><li>Constant idea generation from cells need to materialize into shows</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  10. 10. Need for expansion and maintaining creative edge<br />Internal forces <br />Expression of Creativity<br /><ul><li>Constant idea generation from cells need to materialize into shows
  11. 11. Need for new shows </li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  12. 12. Need for expansion and maintaining creative edge<br />Internal forces <br />Expression of Creativity<br /><ul><li>Constant idea generation from cells need to materialize into shows
  13. 13. Need for new shows </li></ul>Maintain creative edge <br /><ul><li>Keep creative core competency
  14. 14. Constantly innovate </li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  15. 15. Need for expansion and maintaining creative edge<br />Internal forces <br />External forces <br />Opportunities for Expansion<br />Expression of Creativity<br /><ul><li> Reputation for increasing partners </li></ul> revenues<br /><ul><li>Highly sought after
  16. 16. Constant idea generation from cells need to materialize into shows
  17. 17. Need for new shows </li></ul>Maintain creative edge <br /><ul><li>Keep creative core competency
  18. 18. Constantly innovate </li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  19. 19. Need for expansion and maintaining creative edge<br />External forces <br />Internal forces <br />Opportunities for Expansion<br />Expression of Creativity<br /><ul><li> Reputation for increasing partners </li></ul> revenues<br /><ul><li>Highly sought after
  20. 20. New partner and market opportunities
  21. 21. Constant idea generation from cells need to materialize into shows
  22. 22. Need for new shows </li></ul>Maintain creative edge <br /><ul><li>Keep creative core competency
  23. 23. Constantly innovate </li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  24. 24. Need for expansion and maintaining creative edge<br />External forces <br />Internal forces <br />Opportunities for Expansion<br />Expression of Creativity<br /><ul><li> Reputation for increasing partners </li></ul> revenues<br /><ul><li>Highly sought after
  25. 25. New partner and market opportunities
  26. 26. Constant idea generation from cells need to materialize into shows
  27. 27. Need for new shows </li></ul>Maintain creative edge <br />Increasing Competition<br /><ul><li>Keep creative core competency
  28. 28. Constantly innovate
  29. 29. Growing number of similar shows</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  30. 30. Need for expansion and maintaining creative edge<br />External forces <br />Internal forces <br />Opportunities for Expansion<br />Expression of Creativity<br /><ul><li> Reputation for increasing partners </li></ul> revenues<br /><ul><li>Highly sought after
  31. 31. New partner and market opportunities
  32. 32. Constant idea generation from cells need to materialize into shows
  33. 33. Need for new shows </li></ul>Maintain creative edge <br />Increasing Competition<br /><ul><li>Keep creative core competency
  34. 34. Constantly innovate
  35. 35. Growing number of similar shows
  36. 36. Need to be at the forefront of innovation</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  37. 37. Need for expansion and maintaining creative edge<br />External forces <br />Internal forces <br />Opportunities for Expansion<br />Expression of Creativity<br /><ul><li> Reputation for increasing partners </li></ul> revenues<br /><ul><li>Highly sought after
  38. 38. New partner and market opportunities
  39. 39. Constant idea generation from cells need to materialize into shows
  40. 40. Need for new shows </li></ul>Expand globally to capture new markets<br />& <br />Deliver new forms of creativity <br />Maintain creative edge <br />Increasing Competition<br /><ul><li>Keep creative core competency
  41. 41. Constantly innovate
  42. 42. Growing number of similar shows
  43. 43. Need to be at the forefront of innovation</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  44. 44. Enter new markets and deliver creative content<br />Where we want to be<br />Where we are<br />Where we want to be<br />Strong permanent foothold in North America<br />Establish permanent foothold globally<br />Strong relationship with MGM<br />Build equally strong relationship with other partners<br />Issues and concerns<br />Leader in providing the most creative and forefront entertainment<br />Provide high quality and creative entertainment<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  45. 45. Issues and Concerns <br />Issues<br />Concerns<br />Which show type<br /><ul><li>Brand dilution
  46. 46. Creative control
  47. 47. Cannibalization
  48. 48. Over-saturation</li></ul>Which markets to enter<br /><ul><li>Creative Control
  49. 49. Trust
  50. 50. Sustainability
  51. 51. Profitable model with non-casino operator</li></ul>Who to partner<br /><ul><li> Creative talent
  52. 52. Financial and technical capabilities </li></ul>How to deliver new forms of creativity <br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  53. 53. Strategy<br />Where we are<br />Where we want to be<br />Strong permanent foothold in North America<br />Establish permanent foothold globally<br />MULTISENSORY<br />EXPERIENCE<br />Strong relationship with MGM<br />Build equally strong relationship with other partners<br />GEOGRAPHIC<br />EXPANSION<br />High quality and creative circus entertainment provider<br />Provide the cutting edge and most creative circus entertainment<br />Key Principles <br /><ul><li>Show before business
  54. 54. Creative challenge and control </li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  55. 55. Global Expansion Considerations<br />Considerations<br />Which type of show<br />Which country to enter<br />Who to partner with<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  56. 56. Global Expansion<br />RESIDENT<br />BIG TOP<br />ARENA<br />CRITERION<br />Allows greater technical <br />development & creativity<br />30%<br />Fit with brand image<br />15%<br />Maintain creative control<br />30%<br />Profits<br />15%<br />Resident and Arena shows provide the most viable <br />vehicles of expansion & expression of creativity<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  57. 57. Country Selection<br />NEW YORK<br />RESIDENT CRITERION<br />LONDON<br />BERLIN<br />SYDNEY<br />SINGAPORE<br />Tourist Arrivals<br />50%<br />Reception towards <br />Performing Arts<br />25%<br />Ease of Competition<br />25%<br />London & Singapore are the most viable cities to expand into<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  58. 58. London<br />Why London<br />Big Opportunities<br /><ul><li>High industry revenues and attendance that are continuously growing
  59. 59. Boost in tourism for 2012 London Olympics</li></ul>Establish a permanent <br />foothold in London with a <br />resident show<br />Big Markets<br /><ul><li>One of the world’s highest international tourism arrivals</li></ul>Sophisticated Audience<br /><ul><li>Well established performing arts scene
  60. 60. Large pool of target audience</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  61. 61. London<br />How to Enter London<br />Partnership<br /><ul><li>No casinos
  62. 62. Find a partner with the most fit
  63. 63. Construct a modern theater at West End</li></ul>Society of London Theater (SOLT)<br />Why SOLT?<br /><ul><li>Trade association representing owners, producers and managers of London theaters
  64. 64. They have the expertise and fit to direct CdS’s expansion in London</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  65. 65. Global Expansion<br />NEW YORK<br />RESIDENT CRITERION<br />LONDON<br />BERLIN<br />SYDNEY<br />SINGAPORE<br />Tourist Arrivals<br />50%<br />Reception towards <br />Performing Arts<br />25%<br />Ease of Competition<br />25%<br />London & Singapore are the most viable cities to expand into<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  66. 66. Singapore<br />Why Singapore<br />New Opportunities<br /><ul><li>Opening of 2 Integrated Resorts (IR) in Singapore : Resort World & Marina Bay Sands </li></ul>New Markets<br /><ul><li>Access to growing Asia market
  67. 67. One of the highest international tourist </li></ul> arrivals globally<br />Extend Partnership with Las <br />Vegas Sands in Macao to the<br />Marina Bay Sands IR<br />Low Risk<br /><ul><li>Tried and tested casino model
  68. 68. Non-Saturated Market</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  69. 69. Singapore<br />How to Enter Singapore<br />Partnership<br /><ul><li>Upcoming casinos and integrated resorts
  70. 70. Implement similar casino-operator contracts </li></ul>Marina Bay Sands<br />Why Marina Bay Sands?<br /><ul><li>Exisiting ZAIA show in Macao casino operated by Las Vegas Sands
  71. 71. Both parties benefit as the IR will enjoy increased visitations while CdS will enjoy increased box office takings</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  72. 72. Global Expansion<br />RESIDENT<br />BIG TOP<br />ARENA<br />CRITERION<br />Allows greater technical <br />development & creativity<br />30%<br />Fit with brand image<br />15%<br />Maintain creative control<br />30%<br />Profits<br />15%<br />Resident and Arena shows provide the most viable <br />vehicles of expansion & expression of creativity<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  73. 73. Arena<br />Why Arena<br />Huge Earnings<br /><ul><li>Highest revenue & growth
  74. 74. Larger audience</li></ul>Needed to Support Research<br /><ul><li>Our research partnership into Augmented Reality requires high lead time and costs</li></ul>Low Lead Time & Cost<br /><ul><li>Stage setup can be done in hours
  75. 75. Show runs last for up to a week</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  76. 76. Arena<br />Limitation<br />Addressing Limitations<br />Diluting of Brand<br /><ul><li>Better sight lines
  77. 77. Enhanced lighting and décor
  78. 78. Bigger choreography
  79. 79. Overall an enhanced entertainment experience</li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  80. 80. Global Expansion<br />Considerations<br />Geographic Expansion<br />Which market to enter<br />London & Singapore<br />Which type of show<br />Resident Shows <br />Arena Shows<br />Who to partner with<br />Society of London Theater<br />Marina Bay Sands<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  81. 81. Multisensory Experience<br />MULTISENSORY<br />EXPERIENCE<br />GEOGRAPHIC<br />EXPANSION<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  82. 82. Multisensory Experience<br />Sight<br />Sound<br />Motion<br />MULTISENSORY<br />EXPERIENCE<br />Smell<br />Feel<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  83. 83. New Interactive Platform<br />Core Competency<br />Continuous creative innovation in shows<br />Technological Opportunity<br /><ul><li> Motion capture sensors
  84. 84. Vision tracking camera
  85. 85. 3D Modeling
  86. 86. Interactive interface</li></ul>Create an Augmented Reality<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  87. 87. New Interactive Platform<br />Core Competency<br />Continuous creative innovation in shows<br />RESULT<br />An interactive semi-virtual performance can be built to appeal to multiple senses<br />IMPLICATION<br />How to acquire such technology?<br />Technological Opportunity<br /><ul><li> Motion capture sensors
  88. 88. Vision tracking camera
  89. 89. 3D Modeling
  90. 90. Interactive interface</li></ul>Create an Augmented Reality<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  91. 91. Technological Partnership<br />AF+RFID RESEARCH LAB<br />Cirque du Soleil<br />Sight<br /><ul><li>Collaboration initiative of the Royal</li></ul> Academy of Art in the Hague & Delft <br /> University of Technology<br /><ul><li>Worked with world class </li></ul> organizations such as Van Gogh <br /> Museum in Holland <br /><ul><li>Specialize on Augmented Reality for </li></ul> art and design<br /><ul><li>A creative team to design the </li></ul> show<br /><ul><li>Provide research funds</li></ul>Sound<br />Motion<br />MULTISENSORY<br />EXPERIENCE<br />Smell<br />Feel<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  92. 92. Limitations<br />Limitation<br />Addressing Limitations<br />Technological Complexity<br />Plan longer lead time to coincide with London Theater construction<br />High Capital Investment<br />Large revenue from increased Arena shows<br />Perceived threat of obsolesce by performers<br />Include them in the development process &<br />assure them of their required presence in live shows<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  93. 93. 38.6% higher<br />Revenue from Recommendations higher<br />Revenue <br />5 Yr CAGR +15%<br />5 Yr CAGR +8%<br />Assumptions<br />W/O recommendation based on increased focus on Big Top while recommendations includes focus on Arenas and Multi Sensory<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  94. 94. 80% higher<br />EBITDA from Recommendations higher<br />Revenue <br />5 Yr CAGR +20%<br />5 Yr CAGR +6%<br />Assumptions<br />W/O recommendation based on increased focus on Big Top while recommendations includes focus on Arenas and Multi Sensory<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  95. 95. Multi Sensory Approach +ve NPV<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  96. 96. Multi Sensory Approach +ve NPV<br />+NPV 368m <br />Remains positive even when conservative sensitivity scenarios are factored in<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  97. 97. Revenue Breakdown<br />Revenue <br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  98. 98. Revenue Breakdown<br />Revenue <br />Multi Sensory and Arenas will take up a significant portion of Revenue in 2014E<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  99. 99. Implementation<br />2009<br />2010<br />2011<br />2012<br />2013<br />2014<br />Expansion<br />Arena<br />Shift Touring focus towards Arenas<br />BT<br />Big Top will be maintained but slowly phase towards Arenas <br />Singapore<br />Leverage existing partnership with Sands<br />Enter with Multi Sensory<br />London<br />Establish relationship with SOLT<br />Enter the London market<br />Begin R&D partnership<br />Constantly innovate to achieve breakthrough technologies<br />Multi Sensory<br />Create new creative experiences for Singapore and London<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  100. 100. Implementation<br />Where we are<br />Where we want to be<br />Strong permanent foothold in North America<br />Establish permanent foothold globally<br />MULTISENSORY<br />EXPERIENCE<br />Strong relationship with MGM<br />Build equally strong relationship with other partners<br />GEOGRAPHIC<br />EXPANSION<br />High quality and creative circus entertainment provider<br />Provide the cutting edge and most creative circus entertainment<br />Key Principles <br /><ul><li>Show before business
  101. 101. Creative challenge and control </li></ul>Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  102. 102. THANK YOU<br />
  103. 103. Financial Assumptions:Touring<br />Situation<br />Analysis<br />Geographic<br />Expansion<br />Multisensory<br />Experience<br />Introduction<br />Financials<br />Implementation<br />
  104. 104. Why do we not implement the new technology in saturated/more mature markets?<br />Prevent cannibalisation in existing markets <br />Existing infrastructure is not made for it – requires overhaul that requires stopping original shows <br />
  105. 105. Why multi sensory entertainment makes sense?<br />Aligned with your creative direction: Onedrop foundation<br />We live in an experience economy – this is what your consumers will want <br />New media is a current trend <br />
  106. 106. In the event that the partnership does not work out<br />Other available partners (Eg: institution in Nottingham institution)<br />Governmental organisations are interested in such technology – gov support (eg: Singapore) <br />Emergence of research labs conducting the relevant research <br />
  107. 107. In the event that the partnership does not work out<br />Other available partners (Eg: institution in Nottingham institution)<br />Governmental organisations are interested in such technology – gov support (eg: Singapore) <br />Emergence of research labs conducting the relevant research <br />
  108. 108. How is it possible in London now? <br />Other available partners (Eg: institution in Nottingham institution)<br />Governmental organisations are interested in such technology – gov support (eg: Singapore) <br />Emergence of research labs conducting the relevant research <br />
  109. 109. Completely phase out big top eventually<br />Big top restricts creativity<br />Beyond the normadic roots (known for creativity)<br />
  110. 110. 35 other big scale shows on the Vegas Strip  very competitive<br />We have 7 resident shows on in Vegas  cannibalisation<br />Ex CdS employee Franco Dragone has a similar show just next door (Le Reve- aquatic show)<br />Explore new markets that are less competitive <br />

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