2024

BEYOND DREAMS

Cirque du Soleil has captivated audiences around the globe for four decades. What started out as a pipedream for Guy Laliberté back in the 1980’s soon became an international phenomenon, bringing circus arts to the masses in a way no one had experienced before. The road so far has been a medley of acrobatic feats and performances imbued with emotion. A journey that has shaped the company’s vision of entertainment in a unique way. As the curtain rises on Cirque du Soleil’s 40th year, it's not merely a milestone; it's a testament to the extraordinary journey of imagination and a celebration of the wonders they’ve brought to the stage. So, get ready...

“In 2024, Cirque du Soleil promises an encore that takes you Beyond Dreams! We're thrilled to unveil groundbreaking new shows, each brimming with the imagination and artistry that define Cirque du Soleil, starting with an all-new country music-inspired show set to premiere in Nashville. And since music has always been the heartbeat of our performances, you can also expect new albums and singles throughout this year of celebration. Plus, more than any year ever, we’re reaching Beyond Dreams with captivating fan events, new immersive experiences, celebratory anniversary content, new merchandise and collectibles, and revolutionary new attractions that will send you to worlds unseen.”

What would all this mean for fans of Cirque du Soleil?

• Licensed consumer products across fragrances, spirits, and more.
• Licensed brand experiences of all kinds.
• A branded content Studio for New Film/TV productions.
• The Launching of new shows, both big and small.
• Continued investigation into gaming experiences.
• A new music label and publishing umbrella partnership, and,
• The reconfiguring and optimizing of the merchandise organization.

NEW CONSUMER PRODUCTS?

While Cirque du Soleil is known for their extravagant visual displays, the entertainment brand tapped into more sensory experiences (the ones you can smell) with the launch of a debut fragrance. Created in partnership with Flower Shop Perfumes Co., the brand-new perfume is called “l’eau de parfum by Cirque du Soleil” and can be ordered exclusively online.

“In our 40th year in business, we are continuing to evolve beyond our live show offerings and tap into additional creative avenues, which is why we are thrilled to announce this fragrance with Flower Shop,” Eleni Planet, director of licensing and collaborations at Cirque du Soleil Entertainment Group, said in a statement. “Consumers around the globe can now experience the awe found in our iconic shows and share the joy of Cirque du Soleil every day.”

According to the description, the perfume weaves notes of bergamot, red apple, cotton candy, iris and freesia, buttery popcorn, warm sandalwood, vanilla bean, and caramelized amber. The glass bottle is crowned with an Art Deco tiered top and a ridged gold stopper featuring a large sun rising above the moon, paying homage to the “circus of the sun.” Each 100 ml eau de parfum bottle retailed for $195.

LOVE ME DO, NOT

And while that was supposed to be a celebratory moment for the company and fans alike, the world came crashing down when both Cirque du Soleil and Apple Corps Ltd announced on April 9th that The Beates LOVE, the groundbreaking production celebrating the music and legacy of The Beatles through the artistry of Cirque du Soleil, would conclude its historic Las Vegas run at The Mirage on July 7, 2004.

Celebrating its 18th anniversary this year, The Beatles LOVE is a vibrant and thrilling production, driven by its GRAMMY-winning soundtrack and breathtaking aerial artistry, colorful visuals and high-energy choreography on a 360-degree stage. “The Beatles LOVE has been seen by more than 11.5 million guests since opening in 2006,” said Cirque du Soleil Entertainment Group CEO Stéphane Lefebvre. “It’s been an honor for all of us at Cirque du Soleil to collaborate with The Beatles and Apple Corps Ltd. on what can only be described as a masterpiece. We are grateful to the creators, cast, crew and all involved in bringing this show to life and we know The Beatles LOVE will live on long after the final bow.”

News that The Beatles LOVE might close had been rumored for quite some time, due to the recent sale of The Mirage to the Hard Rock group and that group’s plans to revamp the Mirage resort into Hard Rock Las Vegas. However, the show had recently received a contract extension through to the end of the year, so the announcement of the show’s imminent closure came as quite a shock.

The closing of The Beatles LOVE, enforced by construction as The Mirage turns into Hard Rock Las Vegas, initiated rumors that KÀ would be the next Cirque production to shut down.

According to the Las Vegas Review-Journal, potential production partners had checked out the KÀ Theater recently, similar to how interested parties scouted Luxor’s theater as “America’s Got Talent Superstars Live” (that Cirque du Soleil is a partner in) ended its run on May 10th. And Vital Vegas, a Las Vegas-themed news blog, went so far as to say they had heard Guy Laliberte himself had begun sharing privately that KÀ would be shuttered. They went on to say:

The grapevine doesn’t always get it right, but Cirque is trimming the fat in Vegas, and KÀ looks to be next on the chopping block. There’s an argument that Cirque has sort of hit a glass ceiling in Las Vegas, a saturation point. Some Cirque shows have been in Las Vegas for decades, and if people were going to see a Cirque offering, they’ve already done it. The real culprit is more likely a changed entertainment mix in Las Vegas, all competing for limited dollars. Increased competition includes sports, superstar residencies and The Sphere. The pandemic was a big hit to live production shows, and it is pretty clear things haven’t rebounded. Travel from Asia hasn’t really snapped back, either, and Cirque has always been huge with foreign travelers. That’s one of the reasons Cirque shows don’t have a lot of dialogue, you don’t have to speak English to enjoy them. All this on the heels of a big personnel change in Las Vegas, that wasn’t widely reported. In January 2024, Eric Grilly, President of Cirque’s Resident Show Division, was reportedly fired. We described him as “polarizing,” but we’ve yet to find anyone who liked him.

Cirque du Soleil has had its ups and downs over the years, including a bankruptcy. Cirque has tried diversifying its trademark vibe, but largely unsuccessfully. “R.U.N.” lost $60 million or so at Luxor, the biggest financial disaster in the history of Las Vegas. Cirque has always been a money-making machine, and several shows still do very well. The recent and upcoming closures may just be a course correction, adjusting to the changing market in Las Vegas. Cirque du Soleil is a beloved Las Vegas institution, employing thousands of people as performers, crew and support staff. KÀ will a huge loss to us, but probably not to Cirque. It’s unclear if Cirque will pitch a new show to MGM Grand, or if the theater will be used for another form of entertainment, like a headliner residency.

Cirque du Soleil would respond to inquires about KÀ by saying it was looking forward to celebrating, not closing, the production at MGM Grand.

“KÀ remains one of the most moving and spectacular live productions in the world and we are eagerly looking forward to celebrating its 20th anniversary in February of 2025 and beyond. With our well-established partnerships, world-class and one-of-a kind productions featuring our unbelievable artists along with the commitment from the highest level at our international headquarters in Montreal, Cirque’s future in Las Vegas remains bright. Last year was a record year for Cirque in Vegas and we look forward to continuing to entertain audiences with a portfolio of shows while looking at possible new projects.”

KÀ is reportedly performing better than LOVE, which usually ran 40- to 60- percent capacity post-COVID (although it had attendance problems pre-COVID as well), it’s still not as strong as “O” and Mystère, which run in the 90-percent range. Also, KÀ is under contract through November 2026, extended for two years during COVID. For the show to close before its legal partnership expires, MGM Resorts would need to negotiate a buyout of the balance of its contract with Cirque. “That is possible, of course,” writes John Katsilometes of the Las Vegas Journal. “LOVE was under contract through the end of the year, its closing negotiated between Cirque and Mirage/Hard Rock. But as a well-informed source put it, when asked if KÀ was about to close: ‘No chance. KÀ is just fine’”

However, as the old adage goes: where there’s smoke, there’s fire. So, there may yet be some truth to these rumors.

THE FUTURE OF CIRQUE DU SOLEIL

With more announcements no doubt due to come in the back-half of 2024, where does the future of the company lie? According to a recent interview with Stéphane Lefebvre, the new CEO of Cirque du Soleil, in FORTUNE Magazine, it comes in deciding that while the company still has to grow, the only way to do so sustainably is to go back to its roots – as a traveling circus operating on a more modest, human scale.

Instead of trotting out a massive new production every year, the company would mount new tentpole shows every other year, while creating a slate of smaller, less expensive dinner theater and cabaret productions to take on the road—in part to become less dependent on Las Vegas, where it earned about half its revenue. Beyond the stage, the company would engage with only a few carefully chosen collaborations: a documentary, video games, performances at corporate retreats. And its leaders have vowed that post-bankruptcy, Cirque has no plans to make additional acquisitions.

While Cirque was owned by a group of investors led by TPG, Lamarre and Lefebvre were under orders to aggressively grow and professionalize Cirque. The two men—CEO and CFO at the time—take responsibility for their role in Cirque’s financial woes, and concede that they bought into the private equity firm’s strategy. But both say that the pressure from accelerated growth took a toll on the artists who make Cirque shows dazzle. “I want to be careful with the words I am using, but clearly a change of culture happened,” Lefebvre recalls. “We went from a place of close cooperation to worrying about ‘Let’s build it quickly, let’s prime the pump.’” In other words, it became harder to keep the suits at bay.

The TPG strategy could have ultimately worked if not for COVID, Lamarre and Lefebvre say now. Indeed, much of their current strategy echoes that previous private-equity–driven playbook, albeit at a more measured pace. But paradoxically, the pandemic that almost killed Cirque du Soleil may have also saved its soul.

The new post-COVID strategy for the company is coming into focus:

Cirque is preparing for an upcoming country-music-themed show titled Songblazers that will launch in Nashville in July then travel to other U.S. markets. It is planning to build a permanent theater in London and will begin construction on one in Hawaii later this year. “The phones keep on ringing, and people want to work with Cirque,” says chief financial officer Emmanuelle Leclerc-Granger.

Long before any pushy investors showed up, the Cirque had been trying to figure out how to generate extra revenue beyond pure ticket sales. Under new owner Catalyst Capital, managing director Gabriel de Alba says Cirque will be given time to rebuild carefully—but he is eager to say that the brand has not been fully tapped, echoing TPG’s view that there’s still room to grow the company’s brand and offerings.

More to come as the Summer presses on...

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The international success story known as Cirque du Soleil is, above all, the story of a remarkable bond between performers and spectators the world over. For at the end of the day, it is the spectators who spark the creative passions of Cirque du Soleil. So long as we keep our sense of e xcitement at discovering new paths, we’ll never lose our determination to share that excitement with every audience, at every performance.

"Today, we have our place in the sun and a roof over our heads, but once upon a time the street was our home. I would say we took a little dusty carpet and shook it out pretty well we’ve shown the world that under the dust, something exceptional is coming out of contemporary circus. As the future approaches, Cirque prepares to embark on new projects and connect with new audiences everywhere. Dreams never die. Come along as they take on new forms!" — (Guy Laliberté)

2023