Enabling guests to relive their experiences.
The Company's Business is to own and operate an "on-ride" video and photographic camera system that it sells and/or licenses to Customers (being theme parks, ride manufacturers, souvenir imaging providers, and other leisure operators). The camera system operates in extreme conditions and provides a fully integrated digital solution for Customers to allow ride visitors to buy unique video and photographic content created for them when using such rides. This gives Customers an additional revenue stream for their Business and improved rider satisfaction as well as visitor-led social media marketing for the customer. The acquired content is shared digitally with visitors' online friends and contacts. The Directors believe that the Company's camera system is the market-leading "on-ride" fully integrated video and photo souvenir system available to theme parks.
Directors & Senior Management
The Company's Directors and Senior Management Team have over 80 years of combined experience delivering digital content solutions to the leisure industry. The team has held senior roles with the leading brands in the market, including Kodak, Disney, Magic Memories, and Picsolve.
The Directors believe that the post-Covid world will bring significant scope for growth back to the leisure sector. Focusing on destination venues such as theme parks and attractions delivering enhanced guest experiences and maximising souvenir revenue, the Directors believe it presents a high-value opportunity for immediate return on investment for its Customers when acquiring or licensing the camera system. The Directors believe that its technology is perfectly positioned to benefit from a post-Covid rebound.
Commercialisation Strategy
The Company has two main strategies for commercialising its technology and camera system:
- For Customers with under 2 million park/attraction visits per year, they can acquire the camera system and hardware and then pay a monthly license fee and a sales related commission;
- For Customers with over 2 million visits per year, they may be offered (depending on the overall analysis of the installation opportunity) a revenue share arrangement whereby the Company will install the camera systems and hardware at no upfront costs to the Customer but receives a revenue share of sales on an ongoing basis. They also have the option to acquire the camera system and hardware as above.
Additionally, the Company is constantly evaluating expanding to other markets and is planning to incorporate the US Subsidiary to exploit additional commercial opportunities in the United States and employ their US management team
Active Installations
The first ride installation for the Business was on Matterhorn Blitz in Europa Park, Germany. This installation is operational and, by agreement with the park, is the location where all upgrades and system tests are conducted. This camera system is live and has been operating since 5 October 2019.
Europa-Park is the largest theme park in Germany, and the second most popular theme park in Europe, after Disneyland Paris. Europa-Park is located in Rust, south-western Germany, between Freiburg im Breisgau and Strasbourg, and is one of the active ride operators and customers of the Company's camera system.
"Europa-Park has been operating roller coasters with integrated on-ride video systems from various providers for more than ten years. An update to the Ridercam 4.0 system took place for the 2020 season. The reliability and the low maintenance requirements compared to other systems have convinced us, so that we will equip other rides with Ridercam 4.0 in the 2021 season."
"A fantastic product with excellent picture and sound quality, which can be seamlessly transferred to all social media, is a real added value for our guests. Our employees appreciate the easy handling of the system. All in all, a system with a secure return on investment and a gain for the amusement park industry."
Marcus Kniebetsch - Deputy Director, Shopping & Games - sent by email dated 16 October 2020 from Marcus Kniebetsch to Ridercam
The second active ride installation is on a hyper coaster, Taiga, located in Linnanmäki, a theme park in Finland. This installation was active throughout 2020 on a reduced park capacity (when opened) and is currently live and has been operating since 5 October 2019.
Sales Strategy
The ongoing sales strategy is to actively seek to increase ride installations through two main sales plans:
Direct Customer Sales
The Company seeks to engage with and sell and/or license camera systems directly to theme parks, ride manufacturers, and souvenir photo providers for installation on existing and new rides globally. The Company’s sales team is in place and can fit both new rides and retrofit camera systems to existing rides.
In addition, the Company has relationships with several leading manufacturers of modern thrill rides, including Vekoma, Intamin, Sally Dark Rides, Premier and S&S. Management believes that these relationships provide a direct channel to theme parks and a high barrier to entry for competitors. The Company can offer integrated camera systems into new rides as part of the initial ride order process.
The Company has an existing agreement with Vekoma (the world's largest ride manufacturer). As part of this agreement, Vekoma offers its customers an integrated video solution on newly constructed rides.
As examples of the success of this sales strategy, through the ride manufacturer Intamin, the Company secured an agreement with the theme park Linnanmaki and has installed a video solution on a new modern Hyper Coaster, Taiga. The Directors believe that this channel to market provides the Company with competitive advantages.
Partnership with existing souvenir operators
The Business has several active relationships with providers of souvenir imaging services at theme parks and attractions worldwide, including, Magic Memories and Colorvision. It intends to continue working with these parties and others by licensing its technology and camera systems to use with their existing theme park customer base. Such souvenir imaging providers are interested in the Company’s video solution. They do not currently have equivalent systems available for video creation, so the Company’s licensing allows them to offer the system and remain competitive.
Future Acquisitions
The Directors believe that there could be consolidation and other strategic acquisition opportunities in the marketplace in the future, although no specific targets have been identified to date. This could result in the acquisition of a company for its technology which could be beneficial to the Company, or the acquisition of a company to take advantage of their contracted customer base or market access. It is not anticipated that any acquisitions will occur in the 12 months following Admission as the Company is concentrating on its own roll-out strategy described above. Any future acquisition is likely to take advantage of the listed nature of the Company and its ability to offer vendors a tangible and liquid share-based consideration for any sale. This should enhance the Company’s ability to transact and take advantage of any opportunities that arise with the ability to use share-for-share consideration rather than just cash on any transaction consideration.