Six Flags (SIX) Launches a Digital Alliance With Six Companies
Six Flags Entertainment Corporation SIX has entered into partnerships with Google Cloud, Dell Technologies, Snowflake, HCL Tech, Fueled and Pure Imagination Studios, thus announcing it as the largest digital alliance in the theme park industry.
This first-of-its-kind digital alliance intends to offer pioneering technologies from the aforementioned top-tier companies, aimed to enhance guest experiences across multiple touchpoints in the park as well as benefit team members. The company aims to leverage data-driven personalization to deliver tailored experiences to its guests and set a new benchmark for customer engagement.
Benefits From the Digital Alliance
Each member of this top-tier digital alliance will contribute to advancing innovation in the industry by leveraging their distinctive capabilities and technologies.
Google Cloud will act as the primary cloud provider and AI innovation partner; HCL Tech will ensure the acceleration of digital transformation initiatives of Six Flags for personalizing and enhancing its guest experiences; and Dell will help in advancing the generative AI and the hardware that powers the company’s capabilities for revolutionizing the customer experience.
Furthermore, Snowflake’s Snowflake Data Cloud will help this new digital alliance harness the power of data and improve the guest experiences; Fueled will offer services in designing and developing the mobile application; and finally, Pure Imagination Studios will offer an enhanced level of innovation in AR, VR and animation that will bring Six Flags into the metaverse and the future of experiential entertainment.
Focus on Enhancing Guest Experience Bodes Well
Six Flags has been intently focusing on improving its guests’ experiences through several strategic initiatives comprising digital enhancements, expansion and acceleration of its events calendar, along with diversifying its product offerings. These initiatives come under light through collaborations, acquisitions and other organic investments.
During the conference call on its equal merger with Cedar Fair, Six Flags stated that during the third quarter of fiscal 2023, it made great strides in improving its guest experiences through digital transformations. It made intentional decisions on laying down new developmental opportunities, including introducing new shows for a multi-generational audience, enhancing fireworks display shows, testing and promoting speedy gates, along with automated toll plazas.
Furthermore, the company launched its very first waterpark festival as well as introduced a water float parade in its Texas theme parks. Six Flags also cultivated its sponsorship relationships, resulting in additional revenues and cross-branding initiatives. Thanks to these tailwinds, the company could grow its guest attendance and increase revenues while simultaneously investing in its park enhancements and paying down debts.
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Shares of this regional theme park company gained 28.8% in the past three months, outperforming the Zacks Leisure and Recreation Services industry’s 21.5% growth.
Zacks Rank & Key Picks
Six Flags currently carries a Zacks Rank #3 (Hold).
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