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

November 4, 2024

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.

6th September 2024 - Warner Bros. establishes new theme parks and global attractions division

27th August 2024 - IAAPA Expo 2024 to welcome Global Attractions Industry to Orlando

16th August 2024 - Latest TEA/AECOM global attractions report shows theme parks, waterparks and museums as having ‘closed the chapter’ on recovery

26th May 2022 - Universal Studios Singapore breaks ground on new Minion Land

11th April 2022 - Lotte World Busan theme park cost less to design and build than a single large attraction at Disney or Universal Studios

18th February 2022 - Resorts World Sentosa announces plans for SEA Aquarium and Universal Studios Singapore expansion

19th March 2021 - Super Nintendo World expansion opens at Universal Studios Japan

11th September 2020 - Universal Studios Singapore cancels popular Halloween Horror Nights

10th August 2020 - Resorts World Sentosa uses facial recognition for access at Universal Studios Singapore

21st October 2019 - New Universal Studios in Beijing to use facial recognition for guest access

23rd September 2017 - Universal Studios Singapore continues tradition with Halloween Horror Nights 2017

28th October 2016 - End of the road for Dubai Universal Studios Theme Park plan

2nd August 2016 - Universal Studios Japan to bring ‘Godzilla’ to life via 4D attraction

29th May 2015 - Battlestar Galactica reopens at Universal Studios Singapore

10th April 2015 - New Puss in Boots rollercoaster opens at Universal Studios Singapore

30th March 2015 - Universal Studios Singapore turns five and announces new attractions

Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

Click here to view our subscription options.