Matt, were you watching WDW fireworks over the 4th or were you refering to other displays ?
Other displays. One was a city-sponsored display in Livermore on the 4th, the other after the A's/Angels game on the 5th.
Scoop, first, I'm not demanding anything. I'm a single guest. I'm merely laying out the big picture economic reality. Maybe its not one a year, but I can say its more than one every 3-4 years, especially when thats the rate in what are expected to be good times.
but the economic reality is that no park--no matter how quality driven--could ever return its investment on spending the typical 50 to 150 million a year that it would take to create a feature attraction every year.
You're right, but we're not talking about a single park. A new attraction at WDW draws people to the resort, which boosts attendance at all 4 parks, water parks, boosts hotel/restaurant/merchandise revenue, etc.
Further, a lack of continuing investment will kill the current revenue that is coming out of the parks.
The trap you're falling into is assuming that there is a baseline of "zero future investment equals current revenues/cash flow."
That's simply not the case. A new attraction does not have to generate 50-150 million in NEW revenue a year to pay for itself, because without that new attraction, current revenue would have fallen. Also, the payoff for the new attraction continues for years, and for the better attractions, can continue for decades.
The much more realistic approach taken since the day Walt first opened a park is to allow an attraction to recoup its investment.
Walt wasn't operating a four theme park / two water park mega-resort complex. When you expect people to invest a week or two of their time/money instead of a day or two, you're going to have to offer them more frequent new stuff. Not necessarily more per capita, but you can't say DL had a new attraction every 5 years, so WDW only needs one every 4.