Six Flags Sponsorship Revenue Off 17% in First Six Months
Admissions and in-park revenue helped offset a decline in sponsorship over the first six months of the year, leading to overall revenue growth at the company of 6 percent to $400 million and growth in adjusted EBITDA by 86 percent to $65 million. Revenue growth in the first six months of 2011, which was driven by an $18 million or 9 percent increase in admissions revenue and a $7 million or 5 percent increase in in-park revenue, was offset by a $4 million decline (to $18,491,000) in revenue related to sponsorships and international licensing.
Overall revenue also grew in the second quarter to $338,673,000, driven by a $15 million or 9 percent increase in admissions revenue and a $5 million or 4 percent increase in in-park revenue. This growth was offset by a $3 million decline (to $10,579,000) in revenue related primarily to sponsorships and international licensing.
"I am very pleased with our team's execution," said Jim Reid-Anderson, Chairman, President and CEO. "We registered record guest satisfaction scores in the quarter and delivered improvements in all key financial metrics including revenue, profitability and cash flow. We are successfully implementing a multi-year strategy to create value for our shareholders."
Six Flags current national sponsors include Armitron, Baynum Painting, Coca-Cola, Dasani, Dentyne (Official Gum), Discover (Official Card), Famiglia Pizzeria (Official Pizza), Hostess (Official Bread), Jack Links, Kodak, Kozy Shack (Official Pudding and Gel of Six Flags), M&M’s (Official Chocolate Candy of Six Flags), Ocean Potion, Polly-O Twists, Snickers (Official Chocolate Candy), Skittles (Official Sugar-Based Confection), Starburst (Official Sugar-Based Confection), Stride Gum (Official Gum), Trident Gum (Official Gum), Tyson (Exclusive Poultry Supplier), US Coachways (Official Charter Bus Company)