SeaWorld's Approach To Sponsorships Reflected In S-1
Last night, SeaWorld Entertainment finalized plans for its anticipated $540 million IPO coming later this week. Below is the most relevant bit on corporate sponsorships from the company's S-1 filed back in December. In particular, it's interesting to note the emphasis with which the company places on not only maximizing short-term revenue from sponsors, but also finding partners that can use their own, existing distribution channels to extend SeaWorld's consumer promotions to a wider range of retail points. In essence, finding partners that can work on its behalf. Though the resulting increase in awareness, ticket sales and such isn't always a direct line to the sponsorship and licensing P&L, the holistic approach to generating consumer demand has been paying off handsomely for the overall business. The company, and its 11 theme parks throughout the country, earned a net profit of $77.4 million in 2012, more than four times the $19.1 million it made in 2011.
From the S-1:
We seek to secure long-term corporate sponsorships and strategic alliances with leading companies and brands that share our core values, deliver significant brand marketing value and influence and drive mutual business gains. We identify prospective corporate sponsors based on their industry and industry-leading position among Fortune 1000 companies, and we select them based on their ability to deliver impactful marketing value to our theme parks and our brands, as well as to consumer products and various entertainment platforms. Our current corporate sponsors include, among others, Southwest Airlines, which has been a sponsor for over 20 years, and The Coca-Cola Company. Our corporate sponsors contribute to us in a multitude of ways, such as through direct marketing, advertising, media exposure and licensing opportunities, as well as through the non-for-profit SeaWorld & Busch Gardens Conservation Fund. For example, in 2012, The Coca-Cola Company and Southwest Airlines launched new channel marketing programs and consumer promotions on our behalf with Walmart, Wendy’s, Dunkin Donuts, Regal Cinemas, Cinemark, NASCAR, MyCokeRewards, and Southwest Vacations.