The corporate parent of Universal's theme parks this morning reported lower attendance for its U.S. theme parks as revenue declined in the third quarter of the year.
Comcast reported $2.289 billion in revenue for NBCUniversal's Theme Parks segment for the three months ending September 30. That was down 5.3% from the same period in 2023.
The company attributed the revenue dip to a decline in attendance at its domestic theme parks. However, Comcast CEO Brian Roberts did note the announcement of the opening date for Universal Orlando's Epic Universe next year, which he called "the most ambitious and technologically sophisticated theme park ever created."
Epic Universe opens May 22, 2025, which will fall in the second quarter of Comcast's 2025 fiscal year.
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Orlando's Disney vs. Comcast battle is a contrast of two approches to themed entertainment strategy. Disney's involves extensively expanding existing parks (new lands and attractions). Comcast is committed to adding a new park with multiple attractions and essentially ignoring major expansions (or even significant attraction replacements) in their existing models.
Small wonder that Comcast "reported lower attendance for its U.S. theme parks as revenue declined in the third quarter of the year".
This may be why Comcast is desperate to get Epic Universe opened in May 2025 -- ready or not. That way it can show an uptick in Q3 2025 -- assuming the cannibalization of IOA and USF attendance does not undermine the success of that strategy.