Attendance is Down for Universal This Quarter

Comcast reported its third quarter earnings, and there was a significant dip for Universal Parks. Here are the implications.

Earnings Report

If you need a little help getting up to speed on who owns what in theme park land, NBCUniversal is a division of Comcast, and it owns our beloved Universal Parks & Resorts. This includes Universal Studios Hollywood and Universal Studios Florida.

Comcast held its third quarter earnings call. And, while some divisions of the company had a great third quarter, Universal Parks, sadly, is not among the high performers. In fact, it took a hit.

Universal Earnings Decline

During the call, the company reported that Universal Parks had a rough third quarter. Revenue fell by 5.3%, and the adjusted EBITDA dropped by 13.8%. Those are relatively significant drops.

Comcast explained that the drops in revenue are a direct result of lower guest attendance at domestic theme parks. The numbers are certainly lower when compared to last year.

Of course, 2022 and 2023 were record years for Universal in terms of attendance. It would be tough to replicate that surge without new attractions.

Rebound

The company does not seem too concerned about this dip. In fact, they are very optimistic about the future, particularly in the second quarter in 2025.

What is the cause of the excitement? Epic Universe, of course! The company stated, "Looking ahead, we couldn't be more excited about Epic Universe and how it will transform Universal Orlando into a week-long park."

The company is optimistic that Epic Universe will turn things around.

In fact, the company plans to invest $150 million into pre-opening costs during the fourth quarter this year and the first quarter next year to prepare. Hopefully, theme park fans will feel the full effects of the investment when they finally get to experience Epic Universe.

Are you surprised that Universal has seen a decline in attendance ahead of the opening of Epic Universe? Do you think Epic Universe will keep Universal busy? Let us know. And be sure to share the news with the Universal fans in your life.