Universal theme parks reveal decline in attendance and revenue in last quarter

Revenue for Universal’s theme parks around the world has declined in the last three months to the end of September with parent company Comcast reporting in its results for latest financial of this year.

For the quarter ended 30th September, Comcast reported US$2.28 billion in revenue at its theme parks division, a 5.3% decline compared to the third quarter of last year with the lower revenue at the group’s parks in the USA was driven by lower attendance.

In an earnings call, Comcast Chief Financial Officer, Jason Armstrong “our view is there was both a pull forward of demand that we clearly saw in 2022 and 2023, which were record years for the theme parks and beyond our expectations, as well as the new attraction pipeline, which is light this year but building toward a substantial pipeline next year.”

Universal Epic Universe
Despite the lower attendance and revenue, Comcast chairman and CEO Brian Roberts noted the opening of Universal Epic Universe in Florida, USA in May next year, advising that it will be “the most ambitious and technologically sophisticated theme park ever created”.

Comcast President Mike Cavanagh also said Epic Universe will be “the most groundbreaking park ever introduced in the United States”, noting “this park will offer a level of immersion that is unmatched, transporting guests to expansive worlds featuring more than 50 awe-inspiring attractions, entertainment, dining, and shopping experiences.”

He predicted that Epic Universe “will build on everything we’ve excelled at in the present and in the past and make it even better by infusing iconic storytelling with cutting-edge technology in five fully themed worlds”.

Armstrong also outlined the opening of new Universal attractions including Donkey Kong Country at Universal Studios Japan and, in the USA, the new Fast & Furious coaster at Universal Studios Hollywood, Universal Horror Unleashed in Las Vegas and Universal Kids Resort in Texas.

He added “we remain bullish about the long-term trajectory of parks.”

Images: The soon to open Donkey Kong Country at Universal Studios Japan (above) and the concept for part of Universal Epic Universe in Florida, USA. Credit: Universal.