universal

Welcome to the first edition of Mr. Todd’s Wild Ride, a weekly newsletter all about theme parks.

Theme parks, I’ve long believed, are art. Here in Southern California, they are institutions.

And here at The Times, I have been writing about theme parks for more than a decade. As a journalist but also as a fan, even attempting to analyze my own love for these spaces and why I keep going back.

My entry to theme parks were trips to Florida’s Walt Disney World. These vacations were the highlight of my youth, helping a shy, awkward kid get out of his shell and discover a safe world of play. As I’ve gotten older, I’ve come to see parks as places that reflect our popular myths back to us, allowing us to live inside them and define a role for ourselves. I still insist on riding Pirates of the Caribbean each Disneyland visit, just as my father used to. It’s the second-greatest ride at the park, after all.

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That’s not to say theme parks are perfect. They are crowded, they are expensive and increasingly they separate the haves and the have-nots. We’ll talk about some of that here, too, in addition to theme park history, theme park artistry, SoCal theme park news and how to maximize your day. Thank you for reading, and I hope you enjoy the ride.

Take on a character and quest at Universal Studios

I am standing in front of a makeshift cemetery. On the paths between gravestones are colored footprints, as if left by cartoon characters. These are the trails of a suspect. Purple imprints are what I’m seeking.

I am on the case, and the Scooby-Doo gang is here to help: Velma, Daphne, Fred, Shaggy and, of course, Scooby-Doo himself. Left in the thorny bushes of the graveyard is a clue. Once the latter is discovered, I am one step closer to solving the mystery, one that has unleashed a host of Universal’s classic movie monsters on the ol’ Europe section of the studio’s backlot.

A mash-up of Universal’s classic monsters and “Scooby-Doo!” characters is featured in a game-like experience at Fan Fest Nights.

(Christina House / Los Angeles Times)

Can I and a few hundred strangers restore order and save the day?

Universal’s Fan Fest Nights is in its second year, and after a mixed debut last spring, the after-hours, specially-ticketed event has hit its stride. The centerpiece of the fest, which runs on select nights through May 16 with tickets starting at $74, is a mash-up of “Scooby-Doo!” and Universal’s Monsters, a lengthy game-focused quest with escape room-worthy puzzles.

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The experience, as well as those focused on the worlds of “Harry Potter,” “Dungeons & Dragons” and anime sensation “One Piece,” are hefty, limited-time installations that would be worthy of including in a theme park’s daily operations, as the best of them experiment with character interactions and role play.

While exploring these pop-up worlds, I couldn’t help but think about how stagnant Disney’s own specially-ticketed events have become. Fan Fest and Universal’s Halloween Horror Nights change yearly, yet Disneyland’s popular Oogie Boogie Bash has become repetitive and its other themed nights are too reliant on photo ops and traditional character meet-and-greets.

Taken as a whole, Fan Fest resets expectations for what an after-hours, theme park event should be.

Here there are photo ops and limited-run food, sure (and I highly recommend the graham cracker-like Scooby Snack cookies), but Universal’s live theatrical team has placed the emphasis on exploratory attractions. Actors abound, allowing guests to lean in and take on an active role.

A “Harry Potter” experience at Fan Fest Nights is a walk through a fantastical forest looking for a magical creature.

(Christina House / Los Angeles Times)

In the Potter-focused “Forbidden Forest: Search for the Hippogriff,” we are amateur wizards on the prowl for a magical creature, in this case a majestic, oversized puppet. It reminded me of being a young Boy Scout and going on evening hikes into the woods with a guide regaling us with mysterious tales. In “Dungeons & Dragons: Secrets of Waterdeep,” a returning experience from last season, we are alternately adventurers and thieves.

And in the Scooby gang’s “The Case of the Phantom Director,” we are cast as extras in a film production. The Scooby Doo quest, the heart of the night, comes complete with a 14-page manual full of character bios, clues and missions. You’ll have to read, but it’s a bet that today’s guests are craving personal and interactive attractions that pull as much from immersive theater as they do classic theme parks. I applaud this sort of tinkering with the formula, even as I wonder how attendees will take to having to complete actual brain-teasers in a theme park. At least there is a payoff with a mini show (you do not need to complete the challenges to see the finale).

It took my friend and me more than an hour to solve the Scooby game, and, I confess, we didn’t complete one of the four mini-puzzles. While none of the head-scratchers individually are all that stressful, they are more complex than typical theme park fare and require guests to get out of a mindset of rushing from event to event. (Another friend of mine declared herself too “stupid” to complete the missions, but Scooby fans may simply enjoy living in the make-believe world and playing with the actors).

More of this kind of playful inventiveness, please. Magic isn’t always a fancy animatronic. Sometimes it’s just personalization.

A “One Piece”-inspired stunt show is a popular offering at Universal’s Fan Fest Nights.

(Christina House / Los Angeles Times)

The week in SoCal theme parks

• Star Wars: Galaxy’s Edge will roll out some major changes on Wednesday. Out with Kylo Ren and in with Darth Vader (and Luke, Han and Leia). I’ll have more on this next week.
• It’s your last chance to meet a Wall-E and Eve robotic figure at the Pixar Place Hotel. Wednesday is the final day currently on the schedule. This has been a popular meet and greet at the Disneyland Resort, so give yourself at least an hour, maybe more, to stand in line if it’s a priority for you.
• Looking for a Disneyland deal? If you can get there midweek, single-day, single-park tickets can be had for $104 on Wednesday and Thursday. The friendlier price is also available next week, on May 5-6.
• Universal Fan Fest Nights returns Friday through Sunday and while I clearly had a positive experience, if you’re considering going, be prepared for lines. The “Harry Potter” walk-through was a two-hour wait most of the evening. Queue up early, too, for the crowd-pleasing “One Piece” stunt show, as there were only three performances on opening night.
• Disneyland has announced a host of new food options coming to the park this week, including blueberry cobbler doughnuts at Lamplight Lounge and a Philly cheesesteak at Pym Test Kitchen.
• Facial recognition is now being used widely at Disneyland entrance gates. Disney isn’t the first theme park or major SoCal venue to utilize such technology, but Times news writer Hannah Fry spoke to guests about its implementation and delved into the ethical concerns surrounding it.

The best thing I ate at the parks

Universal Studios’ Scooby Snacks cookies are a delightful treat.

(Todd Martens / Los Angeles Times)

I mention this above, but as part of Fan Fest, Universal Studios has released a box of “Scooby Snacks.” They come in bundles of four, packaged in cute purple and green Girl Scout-inspired boxes. They are a delight, and only about $10. The honey & cinnamon dog tags also make a fine coffee accompaniment with breakfast as these are slightly oversize, graham cracker-style cookies. The only negative is you’ll need a Fan Fest ticket to snare them.

Ride report

There was recently a tweak to Universal Studios’ tram tour.

(Genaro Molina / Los Angeles Times)

The past couple weeks I’ve spent a significant amount of time at Universal Studios, partly in prep for Fan Fest and the arrival of the Fast & Furious coaster this summer, but I also wanted to take in its studio tram tour (officially designed as the World Famous Studio Tour). Aside from being a historic attraction, there was recently a change to its “King Kong” section. Namely, 3-D glasses are no longer required. As someone prone to motion sickness, this is a welcome change and I’m pleased to report it looks spiffy. Now if we could just do something about that stomach-churning “The Simpsons” ride.

Tell us your stories. Ask us your questions.

Have a theme park tale to share? Whether it was a good day or less-than-perfect day, I would love to hear about it. Have a question? A tip? A fun photo from the parks to share? Email me at todd.martens@latimes.com. I may feature your note in an upcoming newsletter.

Ride on,

Todd Martens

P.S.

I often work remotely from theme parks — find me on my laptop at Flo’s V8 Cafe at Disney California Adventure, near the Calico Saloon at Knott’s or out in back of the Three Broomsticks at Universal Studios. But even when I’m in a normal office, I still like to write with a bit of theme park optimism. So I turn to music.

My favorite bands (Wilco, the Clash, Sleater-Kinney) will distract, so lately I’ve been seeking instrumental fare. And Disneyland Paris has just released a gem of a work soundtrack. It re-imagined its second park as Disney Adventure World, and while I’m confused as to why my editor didn’t send me to Paris to review it (nudge, nudge), I’ve been consoling myself with the “Adventure Way Symphonic Suite” from the London Symphony Orchestra and French composer Philippe Rombi. It’s calming, a bit majestic, and reminds me of early days music at Florida’s Epcot. That is, it’s music that aims to conjure wonder.

Billionaire investor Bill Ackman’s Pershing Square has proposed a takeover of Universal Music Group in a $64bn deal, the latest twist in his nearly five-year quest for the music label giant.

Pershing Square proposed a cash-and-shares offer on Tuesday through its acquisition vehicle that values Universal Music at about 30.40 euros ($35) per share, a 78 percent premium to the last closing price of 17.10 euros ($20), making the deal worth 55.75 billion euros ($64.31bn).

Universal Music Group (UMG) – the company behind international superstars, including Taylor Swift, Billie Eilish and Kendrick Lamar – is expected to move its listing to New York from Amsterdam, paving the way for more investors, including index funds, to own the company and ultimately lead to more robust earnings and a higher valuation.

Universal Music declined a Reuters news agency request for comment.

For Ackman, one of the world’s most voluble investors, who cemented his fame and fortune as an activist investor, forcefully pushing corporate America to adopt changes, this is a far friendlier approach, investors and industry analysts said.

Even as the music industry is flourishing, UMG’s share price has lagged, something Ackman is pledging to fix with this proposed deal.

Ackman’s letter to Universal Music Group’s board carried a mixed tone, at times complimentary of current management, led by chairman and chief executive Lucian Grainge, and critical of the company’s “underutilized balance sheet” and handling of its 2.7 billion euro ($3.1bn) investment in Spotify Technology.

Fears of AI disrupting the music industry have played a role in UMG’s lacklustre performance. Its share of the music market has been sliding, and streaming growth is decelerating, Wells Fargo analysts noted. In March, UMG delayed its plans for a US listing.

Nonetheless, Ackman will need the support of UMG’s top shareholders – Bollore Group, which holds an 18.5 percent stake, and Vivendi, which owns 13.4 percent – to push through any transaction. China’s Tencent is a significant shareholder. French billionaire Vincent Bollore’s family controls 80 percent of UMG’s voting rights.

Old target

Ackman first flirted with Universal Music Group in 2021, when his Pershing Square Tontine Holdings, a shell corporation created to take a private company public, zeroed in on its target. But Ackman shelved the complex deal in the wake of heavy US regulatory scrutiny. Instead, Pershing Square became one of UMG’s biggest investors in 2021, and Ackman sat on its board until last year.

Post transaction, Ackman said Grainge should remain Universal Music’s chief executive.

Ackman said he and former Hollywood super-agent Michael Ovitz met with Grainge over dinner “a couple of weeks ago” to discuss the potential merger.

“Lucian encouraged us to send it in,” Ackman said.

Ackman proposed adding new directors, including Ovitz – who shepherded the careers of Madonna and Michael Jackson – who would become the board chair. Additionally, two representatives from Pershing Square would get seats, he said, not saying yet whether he would be one of the directors.

Shares of UMG, which is listed in Amsterdam, were up 13 percent on Tuesday, while Bollore Group climbed 5 percent. Shares in Vivendi were up more than 10 percent.

Pershing bought a 10 percent stake in UMG from Vivendi ahead of its 2021 Amsterdam IPO and has since repeatedly pressed for a New York listing, arguing it would boost UMG’s share price and liquidity.

Pershing currently has a 4.7 percent stake, making it UMG’s fourth-biggest shareholder.

UMG’s shares have lost almost a third of their value since its IPO.

Even as global music revenues grow year after year, UMG and other major labels, like Sony and Warner Music, are scrambling to stay competitive as streaming services from Spotify, Amazon, Apple and Deezer take an ever greater share.

They are now also contending with disruptions brought on by the expansion of AI – from copyright disputes to the advent of song-generating AI tools – that threaten to upend how music is created, consumed and monetised.

One survey last year found that a staggering 97 percent of listeners could distinguish between AI-generated and human-composed songs.

Under Tuesday’s proposal, Pershing’s SPARC Holdings would merge with UMG, and the new entity would become a Nevada corporation listed on the New York Stock Exchange.

Billionaire investor Bill Ackman has launched a $65 billion bid to purchase Universal Music, the label representing some of music’s biggest names like Taylor Swift, Kendrick Lamar and Bad Bunny.

As part of the proposed deal, UMG would merge with Ackman’s investment firm, Pershing Square Capital Management, and the company’s stock listing would be relocated from Amsterdam to the New York Stock Exchange.

Pershing Square already holds more than 4.5% of the music giant’s shares. Ackman said the move to a U.S.-based stock exchange would increase the value of UMG .

“UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this transaction,” said Ackman in a statement.

The proposed deal includes Universal Music merging with Pershing Square SPARC Holdings, an acquisition company approved by the Securities and Exchange Commission in 2023. If agreed upon, the proposed transaction could close at the end of the year, according to the company.

Universal Music Group currently has its corporate headquarters in the Netherlands and a local L.A. office in Santa Monica. The label was founded in 1996. Over the years, it’s cemented its reputation as one of the music industry’s “Big Three,” alongside Warner Music Group and Sony Music Entertainment. Universal also controls smaller labels like Republic Records, Interscope Geffen A&M, Capitol Music Group, and Def Jam Recordings.

The news has drawn a level of skepticism, as Ackman will need two-thirds of UMG’s investors to approve the proposed deal, including French billionaire Vincent Bolloré, who is UMG’s largest shareholder with a morethan 18% stake, according to Bloomberg.

If finalized, UMG shareholders would receive €9.4 billion in cash, around €5.05 per share, or roughly $10.9 billion and $5.84 per share.

Investors would receive 0.77 shares in the new merged company. This would value the total consideration package of cash and stock estimated to be worth €30.40 per share, a 78% premium to UMG’s stock price. The transaction will also include the cancellation of 17% of UMG outstanding shares. The new UMG will have 1.541 billion shares outstanding.

UMG’s stock price has jumped over 11% to €19.05 Tuesday morning, due to this potential acquisition.

Universal Pictures will now keep its new films in theaters for at least five weekends, a reversal from the studio’s previous policy of at least 17 days that was set during the pandemic.

The change takes place immediately, the studio said Thursday. That means it will apply to its newest film, the Colleen Hoover romance “Reminders of Him,” which is out in theaters this weekend. Other upcoming films include Christopher Nolan’s “The Odyssey,” which will be released in July.

“Our windowing strategy has always been designed to evolve with the marketplace, but we firmly believe in the primacy of theatrical exclusivity and working closely with our exhibition partners to support a healthy, sustainable theatrical ecosystem,” Donna Langley, chair of NBCUniversal Entertainment, said in an email to the New York Times, which first reported the news.

Focus Features, Universal Pictures’ specialty film arm, will keep its existing theatrical exclusivity policies, which vary on a case-by-case basis. Chloé Zhao’s “Hamnet,” for instance, was in theaters for 99 days, while 2024’s “Nosferatu” played for 58 days. The minimum is 17 days.

The amount of time films are available exclusively in theaters — known as “windowing” in industry jargon — has become a contentious topic of conversation in Hollywood.

That debate ramped up during the pandemic, when some studios shortened theatrical exclusivity periods in order to move films to release for video on demand or streaming.

Prior to the pandemic, those windows could be as long as 90 days. Now, the average is around 30 days.

Theater owners have argued that shorter windows cut into box office profits and train audiences to wait to watch a movie at home. Distributors have countered that a one-size-fits-all approach doesn’t necessarily work for smaller or mid-budget films, which may find a bigger audience via at-home viewing.

At last year’s CinemaCon trade conference, top theater lobbyist Michael O’Leary called on distributors to establish a minimum 45-day window, arguing there needed to be a “clear, consistent starting point” to set moviegoers’ expectations and affirm commitment to theatrical exclusivity.

The debate has become even more fierce as box office profits still have not recovered from the pandemic. Last year, theatrical revenue in the U.S. and Canada totaled about $8.87 billion, just 1.5% above 2024’s disappointing $8.74-billion tally.