Orlando Local News

Universal parks remain strong as execs look toward Epic Universe

todayJuly 27, 2023

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ORLANDO, Fla. — Universal theme parks are performing well, continuing their steady rebound from the COVID-19 pandemic, according to a recent earnings report released by parent company Comcast.

What You Need To Know

  • Universal theme parks continue to perform well, generating higher revenue in the latest quarter

  • Executives are encouraged by growth and look at new attractions and experiences

  • Epic Universe, set to open in 2025, is the next big project for the parks division

  • RELATED: DreamWorks land set for Universal Studios Florida

The parks division, which is under NBCUniversal, generated $2.2 billion in the second quarter, a 22% increase over the same quarter last year. The parks also posted record profitability, with an adjusted EBITDA of $833 million — the highest on record.

The biggest drivers for growth, according to executives, were increased revenue at Universal’s parks in Beijing and Japan, and the continued success of Super Nintendo World at Universal Studios Hollywood in California.

Universal’s parks in Orlando posted lower revenue, but the company said it was still performing above pre-pandemic levels.

Executives remain optimistic about the parks business and see investments as growth opportunities. While on a call with investors, Comcast President Mike Cavanagh touted the division’s slate of new attractions, including Super Nintendo World and the upcoming Minion Land at Universal Studios Florida.

“Our parks continue to be such a great story for us,” Cavanagh said. “Our teams have consistently introduced new and innovative attractions, leveraging both our own or licensed IP.”

The next big opportunity for Universal is Epic Universe, the new theme park under construction in Orlando. Executives said they are looking forward to it.

Comcast Chief Executive Officer Brian Roberts said the company is looking forward to Epic Universe, the new theme park under construction in Orlando.

“We were just down in Orlando recently, looking at Epic Universe progress, and it’s spectacular what’s coming in 2025,” Roberts said.

“The opportunity in Orlando with Epic is pretty massive, we believe,” he added.

Construction crews have steadily made progress on the new theme park. In aerial video from Spectrum’s Sky 13 chopper, coaster tracks, buildings and other structures are visibly vertical.

Once complete, Epic will be home to a Super Nintendo World as well as other themed lands, restaurants, shops and hotels.

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