Comcast Corporation has reported earnings for the first quarter of 2022, revealing that the theme parks division of NBCUniversal brought in $1.6 billion in revenue.
“2022 is off to a great start,” Comcast CEO Brian Roberts said in a statement. “Our recovery from the pandemic at theme parks has been fantastic and shows no signs of slowing down.”
Revenue in the theme parks division increased by more than 151 percent year over year, from $941m to $1.6bn. This was due to improved operating conditions, as well as the opening of Universal Beijing Resort in September 2021.
In the first quarter of 2021, Universal theme parks in the US and Japan were either closed or operating at limited capacity as a result of the pandemic.
“Our investments are significantly expanding the potential of our theme parks business, which will remain an important and exciting growth engine for years to come,” Roberts said during an earnings call.
Theme parks brought in $1.6bn in revenue
“We continue to see exceptional demand at our domestic parks,” Comcast CFO Michael Cavanagh added.
“Attendance was back at pre-pandemic levels, and we had strong growth in per capita with Orlando generating its highest EBITDA on record for the first quarter.”
In October 2021, Universal Orlando reported “the most profitable quarter in its history despite having virtually no international guests due to Covid-related travel restraints”, Roberts said.
Earlier this year, Comcast said its theme parks division posted its most profitable fourth quarter on record. It also revealed that Universal Orlando’s Epic Universe is expected to open by summer 2025.
“Epic is full steam ahead,” said NBCUniversal CEO Jeff Shell. “I was down there a few weeks ago and the construction is going really well.”
“We expect that park to open in 2025 and certainly in time for the summer of 2025,” he added.
Images:Â NBCUniversal
