The actual parade, from the first dancer to the last, seems take be between 6.5 minutes and 8 minutes to pass a single spot, depending on if its a full parade. We have taken multiple videos over the years, and this seems about right in every case. Of course, in real terms it feels longer because of queuing, crowds etc, and the actual period the parade is going on for in the park is much longer, more like half an hour.
