Revenue for Universal’s theme parks was consistent with the prior-year period, parent company Comcast has reported in its financial results for the fourth quarter of 2024.
Revenue for the parks segment was up just 0.1 percent to $2.37 billion for the quarter due to lower attendance at Universal Orlando and Universal Studios Hollywood but offset by higher attendance at Universal’s international parks, Comcast said in its new report.
Adjusted EBITDA for the theme parks division decreased by 3.9 percent to $838 million. This was due to around $35m of pre-opening costs in the fourth quarter for Universal Epic Universe, which is scheduled to launch on 22 May 2025.
Parks positioned for long-term success
Comcast president Mike Cavanagh said in an earnings call: “Our extraordinary parks business and industry-leading film and TV studios are already positioned for long-term success.
“Theme parks will be supercharged by the opening of Epic Universe, the most technologically-advanced theme park ever.”
Chief financial officer of Comcast, Jason Armstrong, said: “We couldn’t be more excited for the launch of Epic. We’ve also been clear, we will have significant costs leading up to this opening, with over $100 million or the vast majority landing in the first quarter.”
As above, Epic Universe is opening this May as the fourth gate at Universal Orlando. The site is home to five themed lands – Celestial Park, Super Nintendo World, Dark Universe, the Wizarding World of Harry Potter – Ministry of Magic, and How to Train Your Dragon – Isle of Berk.
These will boast more than 50 attractions, entertainment experiences, and retail and F&B outlets. Across Epic Universe, immersive technologies will be utilised.
The new destination also includes three hotels, the first of which has opened. Universal Stella Nova Resort houses 750 rooms, as well as cosmic-themed F&B options and amenities.
Images courtesy of Universal
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