Source: Breibart/AP
In historic news, Universal Studios, Marvel Entertainment and Seaworld are building billion dollar theme parks in the Middle East. Dubai and Abu Dhabi located in the Arab Emirates will be the locations for these parks which will be a first and raises the questions if they can attract a significant Muslim population. Full story below:
Investors, studios and park operators are all aiming to cash in on what some observers call the Middle East’s decades-long fascination with American culture. Hollywood movies are popular in the region, and Western fashions are hot commodities among residents who travel abroad.
“On the one hand, they hate America. On the other hand they love America to the bone,” said Michael Izady, an expert on Middle East culture who reaches history at Pace University in New York.
The theme park market is open—with no major facilities currently operating in the Middle East.
The projects are no-brainers for the entertainment companies that have jumped at what amounts to free brand expansions with no capital at risk. Few details have been provided about the deals, which entertainment companies simply describe as licensing arrangements for intellectual property and help on designing the parks and attractions, with no mention of possible royalty payments.
Full story here
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