SeaWorld has suffered a 84% collapse in profits as customers have deserted the controversial aquatic theme park company following claims it mistreated orca whales.
The company, which trains dolphins and killer whales to perform tricks in front of stadiums full of spectators, on Thursday reported declines in attendance, sales and profits because of “continued brand challenges”.
SeaWorld has been in the headlines since the 2013 documentary Blackfish detailed claims that its treatment of orca whales provoked violent behaviour contributing to the deaths of three people. Following the release of the documentary, attendance collapsed and the company lost more than half of its market value on Wall Street and its former CEO was forced out.
Already in the pipeline are plans for a new shark exhibition in Orlando and an attraction in San Antonio that will allow customers to swim with dolphins in a “naturalistic” setting.
The company’s financial report released on Thursday showed net income in the second quarter dropped from $37.4m in 2014 to $5.8m in 2015, a 84% decrease. Revenue fell from $405m to $392m. Attendance dropped by more than 100,000 from 6.58 million to 6.48 million.
Analysts will now be closely watching SeaWorld’s sales and attendance numbers in the third quarter, which is traditionally the company’s most profitable and covers the summer vacation season. Attendance may suffer from a fresh scandal last month, in which a SeaWorld employee was found to have infiltrated animal rights protest groups against the company.
The company, which trains dolphins and killer whales to perform tricks in front of stadiums full of spectators, on Thursday reported declines in attendance, sales and profits because of “continued brand challenges”.
SeaWorld has been in the headlines since the 2013 documentary Blackfish detailed claims that its treatment of orca whales provoked violent behaviour contributing to the deaths of three people. Following the release of the documentary, attendance collapsed and the company lost more than half of its market value on Wall Street and its former CEO was forced out.
Already in the pipeline are plans for a new shark exhibition in Orlando and an attraction in San Antonio that will allow customers to swim with dolphins in a “naturalistic” setting.
The company’s financial report released on Thursday showed net income in the second quarter dropped from $37.4m in 2014 to $5.8m in 2015, a 84% decrease. Revenue fell from $405m to $392m. Attendance dropped by more than 100,000 from 6.58 million to 6.48 million.
Analysts will now be closely watching SeaWorld’s sales and attendance numbers in the third quarter, which is traditionally the company’s most profitable and covers the summer vacation season. Attendance may suffer from a fresh scandal last month, in which a SeaWorld employee was found to have infiltrated animal rights protest groups against the company.