Supercharged Entertainment: Blazer to expand into entertainment industry
Blazer Entertainment has been acquiring properties, including movie studios and theme parks, for the last 10 years, but this is the first time it has ventured into the entertainment industry, with the goal of becoming a player in the fast-growing market of premium entertainment.
The company will launch the Blazer brand in the U.S. and Australia and plans to expand internationally in the next five years.
Blazer is aiming to open its first U.K. outlet in 2019, while it has also signed deals with movie studios such as Universal and Warner Bros. Blazers’ strategy is to leverage its existing brands to attract consumers who are not necessarily into premium sports or music.
Blazer also plans to focus on developing branded brands and platforms, with its latest acquisition of Universal and the release of Disney’s “Beauty and the Beast” movie.
Blasters parent company, Starwood Hotels & Resorts, is investing $300 million in the company, which has $1 billion in revenue.
Blazers CEO and CEO Michael Blazer told investors on the company’s earnings call that his company has become a leader in the premium entertainment space, where the growth of content has made it harder for players like itself to stay relevant.
The company, he said, is going to focus primarily on building a brand that can be used across multiple platforms, such as a video game, premium television and mobile.
Blasters core business is entertainment, which includes movie studios, theme parks and other entertainment businesses.
It has more than 500 employees.
Blasys annual revenue is expected to reach $5 billion by 2021, according to the company.
Blashers business is currently driven by entertainment and sports, but the company is looking to expand beyond entertainment and entertainment.
According to the analysts, Blazer’s entertainment business is expected at $3 billion in 2021.
Blaster expects to spend $1.5 billion on entertainment in 2021, while the rest of the company plans to spend about $800 million on media, which is expected in the range of $300 to $400 million.