Universal theme park attendance to increase by next summer; Comcast Says Epic Universe Demand Strong Ahead of May Opening

Theme parks – both Universal and Disney – have endured a string of weaker quarters following a post-Covid surge, but NBCUniversal parent Comcast expects that to change by next summer.

The decline in domestic park attendance followed “increased demand in 2022 and 2023, which were record-setting for theme parks, and a new attraction pipeline that was light this year,” but was expected to pick up sharply by the second quarter of this year. 2025. “That’s when we’ll break ground this year and Epic Universe will open,” Comcast President Mike Cavanaugh said on a call with analysts after reporting its latest financial results.

Costs to prepare for the park’s opening will be approximately $150 million, which will be spread between the current fourth quarter and the first.

“We are seeing a lot of demand in the first few days since the opening day was announced,” he said. The media giant is making marketing efforts across all its properties to create awareness.

The company’s expected fourth Orlando park, coming online May 22, will feature five new worlds and a huge hotel, and Comcast plans to create a week-long destination just for Universal parks. The price will be higher.

While traditional linear media has floundered (Comcast is now considering spinning off its cable networks) and streaming is still in search of significant profits, theme parks have instead thrived post-pandemic with an influx of guests and become the focus of Wall Street’s attention.

Investors have become a little concerned about the decline in attendance this year for the two biggest players. The idea is that this year’s decline occurred against the backdrop of unrealistically high rates and is now stabilizing.