May 9, 2012 | LA Times
Harry Potter has conquered the world with books and then with movies. Now he’s doing the same with theme parks.
Universal Studios Japan on Thursday will unveil plans to build the first international version of the Wizarding World of Harry Potter, the blockbuster attraction that has drawn millions of fans to Universal’s Orlando resort and is coming to Los Angeles.
The Osaka destination -- expected to begin construction in the next few weeks with a planned opening in late 2014 and an expected cost of about $500 million -- brings Hogwarts Castle and rides including Harry Potter and the Forbidden Journey to the boy wizard’s biggest market outside of the United States.
The eight Potter movies grossed nearly $900 million in Japan -- more even than in his home country of Britain. Products including magic wand chopsticks have made the Harry Potter brand Japan's most successful movie-based consumer products line of the last decade.
But the book and film series are both complete, and fans who have grown into their 20s and 30s are buying fewer toys. Harry Potter is in need of a business transformation. The answer from Warner Bros. -- which owns the licensing rights to author J.K. Rowling’s books -- is theme parks. Potter has driven a stunning 68% increase in attendance at Universal Orlando and spurred visitors to spend millions on butterbeer during their visits and paraphernalia on their way out.
Full story at LA Times