Comcast Corporation has released results for its third quarter ended September 30, 2021, with Universal Orlando reporting “the most profitable quarter in its history”.
“Our results at NBCUniversal continue to be driven by the ongoing recovery at our domestic theme parks, as well as the success of our linear and streaming media platforms,” said Brian Roberts, chairman and CEO of Comcast Corporation.
Comcast reported that revenue for the theme parks division of NBCUniversal increased $1.1bn to $1.4bn in Q3 2021. Comcast said this reflects ‘improved operating conditions’.
Ongoing recovery at Universal parks
Theme parks EBITDA was $434m in the third quarter of 2021, which included pre-opening costs related to Universal Beijing Resort. This is compared to a $174m EBITDA loss in the prior year.
For the nine months ended September 30, 2020 revenue from the theme parks division increased $1.7bn to $3.2bn compared to 2020. Again, this reflects improved operating conditions compared to last year.
Theme parks EBITDA was $593m, which also included pre-opening costs related to Universal Beijing Resort, compared to a $480m EBITDA loss in 2020.
“At NBCUniversal, we continue to see great progress in each of our businesses, but I’d like to highlight our theme parks, especially Orlando, which just reported the most profitable quarter in its history despite having virtually no international guests due to COVID-related travel restraints,” Roberts said.
Improved operating conditions in 2021
“In Hollywood, we continue to see recovery, and we had a very successful and exciting opening of Universal Beijing Resort on September 20,” he added. “I also look forward to Covid-related restrictions easing in Osaka, which could happen soon.”
Universal Beijing Resort opened last month, welcoming guests to Universal Studios Beijing, Universal CityWalk Beijing, Universal Studios Grand Hotel and the NUO Resort Hotel.
“Universal Beijing Resort has been 20 years in the making and marks an important milestone for Universal Parks & Resorts, our partners and everyone associated with this project,” said Tom Williams, chairman and CEO of Universal Parks & Resorts.