Joint Venture Operations
Joint venture operations
Over the years Metropolis has entered into a number of revenue share joint venture arrangements with operating partners in the museum and visitor attraction sectors. The most recent of these has been the Legend of Apollo 4D cinema at the London Science Museum in 2009, the success of which led to the joint development of an entire gallery, Fly Zone, in 2010.
While the details of such an arrangement are specific to the circumstances of each venue or partner, the principles are essentially the same. Typically Metropolis would supply and install, at its cost, the entire attraction including all hardware, software, content and ongoing maintenance and the venue would provide the day to day operation, marketing and utilities. Gross revenues collected would be distributed (usually on a monthly basis) in a pre-agreed proportion between the parties after deductions had been made for relevant taxes and operating expenses.
Such arrangements are usually for a minimum of five years. Metropolis, through its investment parties, can fund any valid proposal for this type of joint venture operation and will be happy to engage in exploratory discussions.