Epic Universe has significantly boosted both revenue and attendance at Universal Orlando Resort since its highly anticipated opening in May, according to Comcast executives during their recent earnings call.
The introduction of Epic Universe led to a remarkable 19% increase in revenue for Comcast’s theme parks division, generating a total of $2.35 billion. While adjusted earnings before interest, taxation, depreciation, and amortization rose by 4%, this growth was somewhat mitigated by initial soft-opening expenses, as noted by CFO Jason Armstrong.
Comcast President Mike Cavanagh expressed pride in the successful launch of Epic Universe, highlighting the park’s role in enhancing both guest spending and overall attendance at the Universal Orlando Resort. “The initial results show Epic driving higher per-capita spending and attendance, supported by strong sales in food and merchandise. Importantly, there has been minimal disruption to attendance at other parks like Universal Studios Florida and Islands of Adventure,” Cavanagh remarked.
With an eye on the future, Cavanagh indicated that enhancing ride throughput is a priority for Universal to streamline guest access to attractions. This strategy is designed to alleviate the capacity restrictions implemented under the park’s ticketing plan. Armstrong is optimistic about future attendance growth, citing “significantly improved operating leverage” as a key factor for the park’s continued success.
Armstrong commented on the positive consumer response to Epic Universe. “We are truly pleased with how Epic is enriching the overall guest experience and contributing to the performance of Universal Orlando,” he stated.
Sustaining competition in the market, Cavanagh also mentioned that both Universal and its main rival, Disney, are actively investing in their parks, which will benefit the Orlando market as a whole. While Universal’s international parks reported strong performance in the second quarter, Universal Hollywood faced certain challenges.
Upcoming Attractions
Looking ahead, Universal is set to launch another exciting attraction: Universal Horror Unleashed in Las Vegas on August 14, aimed at attracting horror enthusiasts.
In addition, Universal is developing a second year-round horror experience, slated for Chicago, showcasing the brand’s commitment to expanding its entertainment offerings.
Furthermore, the upcoming Universal Kids Resort in Texas is on track for a 2024 opening, and a new theme park near London is scheduled to open in 2031. Cavanagh emphasized that these projects align with Universal’s long-term strategy to expand its market reach and enhance its portfolio’s appeal.
