Podcast
Questions and Answers
Where did Cirque du Soleil start?
Where did Cirque du Soleil start?
What was the catalyst for Cirque du Soleil's growth in the 1980s?
What was the catalyst for Cirque du Soleil's growth in the 1980s?
Where did Cirque du Soleil experience their first major success?
Where did Cirque du Soleil experience their first major success?
What was Cirque du Soleil's business model for establishing their brand?
What was Cirque du Soleil's business model for establishing their brand?
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In which city did Cirque du Soleil stage the iconic aquarium circus show 'O'?
In which city did Cirque du Soleil stage the iconic aquarium circus show 'O'?
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What problems did Cirque du Soleil start to face after expanding globally?
What problems did Cirque du Soleil start to face after expanding globally?
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When did Cirque du Soleil have another breakthrough with the show 'O'?
When did Cirque du Soleil have another breakthrough with the show 'O'?
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What major setback did Cirque du Soleil experience between 2010 and 2019?
What major setback did Cirque du Soleil experience between 2010 and 2019?
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What event negatively impacted Cirque du Soleil in 2012?
What event negatively impacted Cirque du Soleil in 2012?
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Who sold the majority stake in Cirque du Soleil to new investors?
Who sold the majority stake in Cirque du Soleil to new investors?
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What led to the major restructuring and transformation of Cirque du Soleil's business?
What led to the major restructuring and transformation of Cirque du Soleil's business?
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Which event forced the suspension of all active shows and led to bankruptcy for Cirque du Soleil in 2020?
Which event forced the suspension of all active shows and led to bankruptcy for Cirque du Soleil in 2020?
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Who bought Cirque du Soleil out of bankruptcy with a $375 million investment?
Who bought Cirque du Soleil out of bankruptcy with a $375 million investment?
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What does Cirque du Soleil continue to hope for as shows reopen in Asia and South America?
What does Cirque du Soleil continue to hope for as shows reopen in Asia and South America?
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#8 According to the text, what did New investors lead to?
#8 According to the text, what did New investors lead to?
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Study Notes
- Cirque du Soleil is a renowned global circus brand that started as a small group of street performers in Quebec, Canada in the 1980s.
- The company's timing was perfect as they took advantage of the changing trend towards more entertaining circus shows and Quebec's 450th anniversary celebration in 1984.
- Cirque du Soleil's unique product, which included street performers, original music, special lighting, and extravagant costumes, gained wide acclaim and led to exponential growth.
- The company's first major success was in Los Angeles in 1987, where they performed at the Art Festival and sold out shows.
- Cirque du Soleil continued to innovate and expand globally in the late 1980s and 1990s, with shows in Europe, Asia, and theatres in North America.
- Their business model of performing in theatres with long-term contracts helped them establish their brand permanently and provide more stable revenue.
- From 1994 to 1998, Cirque du Soleil staged shows all over the world and had another breakthrough with the iconic aquarium circus show 'O' in Las Vegas in 1998.
- However, after expanding to multiple countries and producing shows for another decade, problems started to appear, including negative feedback and reviews, diluted shows, and the departure of senior performers.
- Between 2010 and 2019, Cirque du Soleil experienced major setbacks, including low reviews for newer productions and closures of shows due to low ticket sales.
- Tragedies such as the death of an acrobat on stage in Las Vegas in 2012 and co-founder Guy Laliberté's departure in 2015 further affected the company.- Guy sold majority stake in Cirque du Soleil to TPG, Fosun, and a Canadian pension fund for $1.5 billion
- New investors led to major restructuring and transformation of the business
- Focused on live shows, worldwide tours, and multimedia productions
- Launched television series on Netflix in 2016, allowing for digital brand scaling
- Acquired Blue Man Group, 45 Degrees, VStar Entertainment, and the Works Entertainment for expansion into new forms of entertainment
- COVID-19 pandemic hit in 2020, forcing suspension of all active shows and $1 billion in financial debt, leading to bankruptcy
- Former CEO of MGM Resorts, Jim Murren, and investment company, Catalyst Capital, bought Cirque du Soleil out of bankruptcy in 2020 with a $375 million investment
- Continues to operate with hope for revival as shows reopen in Asia and South America.
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Description
Explore the rich history of Cirque du Soleil, from its humble beginnings as a group of street performers in Quebec, Canada to its global expansion, major successes, setbacks, and revival under new ownership. Learn how the company transformed the circus industry with its unique performances and business model.
