NBCUniversal’s theme parks division has reported a 1.5 percent increase in revenue for the first three months of 2024, parent company Comcast has announced.
In the quarter ended 31 March 31, revenue for Universal theme parks increased from $1,949 billion to $1.979bn. This was due to higher revenue at the company’s US parks.
Via a statement, revenue for Universal’s international theme parks was “consistent due to higher underlying revenue, offset by the negative impact of foreign currency”.
Earnings down at Universal parks
Adjusted EBITDA for Universal parks dropped. This has been attributed to higher operating expenses, as well as the negative impact of foreign currency. This “more than offset” higher revenue, Comcast said.
In an earnings call, Comcast Corporation president Mike Cavanagh said: “We continued to see strong underlying demand in both Hollywood and Japan, where healthy attendance and per-cap levels were once again driven by the success of Super Nintendo World. Building on our momentum, later this year we’re opening our newest Nintendo-themed land, Donkey Kong Country, which will increase the size of Super Nintendo World in Japan by 70 percent.”
Universal is also building a new family-friendly resort in Frisco, Texas, and a permanent horror experience at Area15 in Las Vegas. It’s fourth gate in Orlando, Epic Universe, is scheduled to open next year.
Cavanagh added, “Switching gears to Orlando, we started to feel some pressure on attendance levels late in the first quarter, which tends to occur in tandem with the ebbs and flows of new attractions in the market.
“Right now, we happen to be lapping the multi-year surge in attendance from our opening of new attractions in prior periods, but we remain confident about our longer term growth opportunities, especially as we look ahead to next year with the opening of Epic Universe.
“With three new hotels and five immersive worlds featuring more than 50 attractions, entertainment, dining and shopping experiences, it will be the most technologically advanced park in the world.”
Images courtesy of Universal
