Magic Memories secures $25 million investment to help revive global attractions industry
Magic Memories has announced it has secured $25 million to help the resilient attractions industry successfully recover from the impact of Covid-19.
Magic Memories saw revenues fall following the mass closure of attractions around the world but reacted quickly to reduce outgoings while retaining core talent and IP enabled consistent progress on product development throughout Covid-19.
The recent funding from the company’s existing shareholders has enabled Magic Memories to dramatically accelerate its product innovation, enabling partners to deliver a memory making model that provides the very best engaging image capture experiences and digital products to support their recovery and future revenue growth.
Magic Memories’ mobile-first omnichannel systems are now operating at the 75 attractions globally that have reopened - providing attraction partners with an increased amount of revenue channels than ever before.
Through Magic Memories’ new mobile platform and ecommerce system, attraction partners can now sell capture experiences as part of the admission ticket and upsell purchases both online and offline - helping to drive 50% more revenue per customer in comparison to pre-Covid-19 revenue figures.
The funding also enabled Magic Memories to honour its financial agreements in place before and during the Covid-19 period to all of its 160+ partners globally.
Magic Memories’ Chief Executive, Chris Warhurst advises “the Covid-19 pandemic has had a devastating impact on many industries, and the tourism and experience industry has been among the hardest hit. While many closures remain in place and uncertainty lies around reopening dates, we’re fully committed to supporting our attraction partners through the pandemic and playing a key role in helping the industry thrive once again.
“The funding and support we have received from shareholders underline their confidence in our business and strategy to further invest in our products and technology. We are poised to emerge from Covid-19 with the world’s most engaging media capture experiences and product outputs for guests that increases our partners revenue streams and enhances their guest and brand experience.”
Click here to contact Magic Memories via their entry in the Australasian Leisure Management Supplier Directory.
Image: Movie World' rollercoasters.
20th June 2017 - Magic Memories appoints new head of North American operations
11th September 2016 - Magic Memories acquires US-based SharpShooter Imaging
17th August 2016 - Chris Warhurst takes on new Chief Executive role at Magic Memories
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