Per Bloomberg “SeaWorld Drops as Killer Whale Controversy Hurts Sales” where the shares of “Seaworld Entertainment systems” (ticker symbol SEAS) dropped by 33% to $18.90 and all time low since it was floated as an IPO in 2013.
“The company acknowledged for the first time that pressure from animal-rights groups is reducing attendance, said Barton Crockett, an analyst at FBR & Co., calling second-quarter results “surprisingly weak.” The theme-park operator fought off a proposed ban on keeping orcas in captivity in California with a lobbying campaign that raised doubts about claims that the animals are harmed in its parks”
Things are not looking good for the brand as the drop was on major selling volume.
We at Roads-2-Roam have long had a problem with SeaWorld’s fundamental business model where we consider it a sad and cruel attraction. Until recently, we lived in San Antonio but refused out of principle to take our family or visitors there.
After seeing the movie Blackfish, it only added to our distaste.
We are pleased to see that Southwest is not renewing their advertising contract with SeaWorld where it will no longer feature “Shamu” on their planes. From U-T San Diego:
Southwest and SeaWorld, which has marine parks in San Diego, Orlando and San Antonio, insist that the decision was a mutual one, predicated on “shifting priorities” by both companies.
Both issued the same statement:
“Southwest and SeaWorld have mutually decided not to renew their partnership when the contract expires at the end of the year,” they said. “Our promotional marketing relationship began in 1988 and was one of the first of its kind – focused on co-marketing opportunities between Southwest passengers and SeaWorld visitors.