OVG sees opportunity in strategic content investments

GROW AND GLOW: Francesca Bodie, COO of Oak View Group, sees opportunity in strategic content investments. (Courtesy OVG)

More content producers on company’s radar

Oak View Group’s strategic investment in Family Entertainment Holdings, which produces the Hot Wheels Monster Trucks Live touring attraction and outdoor holiday lights drive-through experience Magic of Lights, is likely to be the first of more such investments by the parent company of  VenuesNow and Pollstar.

“It is outside of the resident teams in some of our venues. But it won’t be the last,” Francesca Bodie, recently elevated to the new role of COO of OVG, said in responding to email questions.

“We watch all the touring content in our venues closely and Hot Wheels Monster Trucks has been performing extraordinarily well, so we’ve been fans for a while,” Bodie said. “I was able to be a fan with my two kids at their Glow show at our Acrisure Arena and it was a blast. I feel like with OVG sponsorship and premium team activating as part of this investment we can add immediate value for FEH and the fans.”

Family Entertainment Holdings is the licensee  Hot Wheels Monster Trucks Live, and the company has strong ties to Hot Wheels IP owner Mattel,  Magic of Lights includes Barbie content, which is red hot at the moment after the success of the film of the same name.

LIGHTS AND POWER: Ken Hudgens is CEO of Family Entertainment Holdings. (Courtesy FEH)

In 2024, Magic of Lights will play 1,250 event nights at 25 locations and Hot Wheels Monster Trucks Live will do 349 performances at 108 events worldwide. In addition, FEH will craft additional family-oriented content.

Bodie said the global growth that FEH is already experiencing aligns seamlessly with OVG’s vision, offering collaborative opportunities for OVG and its venue alliance members.

Hudgens, who hailed the partnership as “a testament to the success” FEH has achieved since its founding in 2021, explained that the company has financial backing by private equity firm Seaport Capital and publicly traded Gray Television.

“We anticipate significant growth and upside for Family Entertainment Holdings (FEH), driven not only by our existing successes with Hot Wheels Monster Trucks Live and Magic of Lights but also through the introduction of new properties in the near future,” he said. “Hot Wheels Monster Trucks Live is at the beginning of its growth curve, and despite initial disruptions from COVID, is poised for expansion with increased domestic and North American event dates, stadium events and international events and touring units. We’re leveraging the robust Hot Wheels brand. Magic of Lights, currently at 21 locations, will see further growth to 25 sites next year, exploring additional organic avenues like upsells, premium experiences, and Holiday Village.”

IT’S MAGIC: Family Entertainment Holdings produces the Magic of Lights holiday-time drive-through attraction. (Courtesy FEH)

Bodie said to watch this space for more such investments.

“We are continually focused on ensuring the most premium content for our venues and that of our partners, so yes, we are open to more investment opportunities to ensure high-quality offerings for our guests,” she said.