Bringing Theme Park souvenirs into the publish yourself generation
Reliving our special moments in life is something we humans have done as long as we have existed using stone carvings, paintings, scriptures, photographs, and vhs-videos. As we have developed so has technology. Ridercam started in 2006 with the aim to become the market leader in "memorology" –the art of capturing high definition memories with sound. Now we are there. No other system today can deliver what we do – high definition smile-bytes with high quality sound.
Ridercam is a technology business that has developed what management believes to be the leading video capture system on adrenalin-fueled rides or roller coasters in the World today. A unique and proprietary technology that captures Theme Park memories for consumers – the natural evolution of an existing and well-established market (estimated at $1.3 billion dollar) in the sale of still photos in Theme Parks. Ridercam has over the past ten years developed a high definition camera system that can consistently capture and deliver to consumers a movie of a roller coaster experience.
- Top 50 theme parks worldwide – over 250 million visitors per annum*
- 2016 forecast global revenue of $46.1 billion
- In Park spend management estimates accounts for 30% or $13.8 billion of which we estimate 10% is on Photo Souvenirs – estimated market of $1.38 billion per annum in Photo sales
- Souvenir market is operated by three major players: Kodak, Magic Memories and Picsolve – Kodak and Magic have chosen Ridercam as preferred video provider
- Ridercam now targeting Theme Parks directly with automated video delivery solution through alliances with Coaster manufacturers – taking on the operators with an end to end digital solution
- There are 3,983 roller coasters in the world** many new ones are built each year
- Ridercam financial model assumes x coasters installed by 2020 less than x% of total market
Ridercam was established in 2006 with the aim of becoming the market leader in video capture in Theme Parks. Ridercam captures for prosperity the enjoyment and thrills of the roller coaster experience forever – a memory that can be published instantly online and shared with friends. The use of camera or mobile phones on roller coasters remains prohibited for the obvious health and safety reasons, moreover a GoPro would break after a full day of filming. The management today believe that Ridercam has become the market leader and has a strategy to evolve its market.
Ridercam = Preferred Supplier
Today Ridercam has preferred video supplier contracts with two of the three major Theme Park souvenir operators in the world Kodak and Magic Memories and is in negotiation with the third Picsolve. Ridercam is operational with Magic Memories at Movie World (Australia) on “DC Rivals”, “Doomsday” and “Batwing”. Ridercam has a compelling revenue-generating product today with existing contracts with the leading operators in the market of theme park souvenirs.
The operator opportunity is only the tip of the iceberg. Through nearly a decade of technology development Ridercam has established itself as the dominant industry supplier of video systems on Coasters and is particularly respected by the Coaster manufacturers themselves. The system has been fully approved by many ride manufacturers and has passed all the relevant health and safety checks including approval from the German TUF and now the equivalent in China. This the management believe is a major barrier to entry in the market.
New Strategic sales alliance opens the way to new markets
Through its strategic sales alliance with Vekoma (the worlds biggest ride manufacturer – www.vekoma.com) the Company has secured a contract directly with Fantawild in China (12 Theme Parks open and more in development) with an install schedule of 16 coasters in the next two years. Fantawild is the fifth largest Theme Park Group in the world and still expanding. The forecast is that by 2020 attendance in Theme Parks in China will surpass the US.
None of the exsisting operators have secured contracts in China. Ridercam has the opportunity to become the dominant market player for the recording and delivery of roller coaster video souvenirs in the region .
Vekoma are now offering the Ridercam system on all of their new coasters, which in turn is leading to revenue share contracts with the Theme Parks directly. The game changer is that Ridercam can secure more substantial revenue share splits with the Parks directly.
Rather than an average 20% share with the Operators, Ridercam is now negotiating revenue share as high as 45%. Plus with the planned retail system software development sales of Ridercam movies can be automated – negating the need for staff to sell the product in the Park. In other words Ridercam will deliver a fully autonomous system to deliver ride movies to consumers.
Following the Vekoma agreement Ridercam has also signed a contract to install their system on a new Vekoma coaster going into Wildlands Zoo Emmen, in the Netherlands for April 2018.
The future is small and lightweight...
The Company intends to keep its market leading position and is currently hard at work developing the a new generation Camera system which will deliver smaller and cheaper components to reduce the cost of the system by 70% to allow for an economic but aggressive install program.
Second to the technical development Ridercam is also developing the software to encompass retail sales software (up to now provided by the Operators) which will deliver the video directly to mobile phones and social media – management believe this will enable a significant shift in the market and deliver greater profit to the company.
The Management believe that the most exciting outlook for the business is that within 5 years all guests to Theme Parks will receive their on ride and in Park videos for free where the revenues will come from advertisers wanting to be associated with the content.