Theme Parks Will Not Be Digitized

There are just some things you can't experience on your smartphone.

Defying more than gravity.

Photographer: Patrick T. Fallon/Bloomberg

For the world’s entertainment giants, this is a time of fear and doubt. These companies are still bringing in piles of money -- industry leader Walt Disney Co.’s profits are expected to hit a record $8.7 billion for the fiscal year that ends Wednesday. But cracks are beginning to show in the business model, especially the double revenue stream of advertising and user fees that has made U.S. cable television networks such wonderful things to own during the past couple of decades. The digital forces that upended music and publishing seem now to be, finally, stalking TV and movies in a serious way.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.