Attendance and revenue was down at Universal‘s theme parks in the first quarter of 2025, parent company Comcast has reported in its latest financial results.
Despite the decreases, Universal is seeing “strong demand” ahead of the launch of Epic Universe in Orlando on 22 May.
For the quarter ended 31 March, revenue for Universal theme parks dropped by 5.2 percent from the same period last year to $1.87 billion.
Comcast has attributed this decrease to lower revenue at its US parks, driven by lower attendance including the impact of this year’s Hollywood wildfires.
Adjusted EBITDA for the parks segment was also down by 32.1 percent to $429 million, reflecting lower revenue and higher operating expenses, including around $100m of pre-opening costs for Epic Universe.
Brian Roberts, chairman and chief executive officer of Comcast Corporation, said Universal’s theme parks “remain on an incredible growth trajectory”.
“Strong demand” for Epic Universe
“We could not be more excited for the grand opening of Epic Universe in Orlando next month and our plans to bring a new world-class theme park to the UK,” said Roberts.
In an earnings call, Comcast president Mike Cavanagh said the company has seen “strong demand since launching Epic ticket sales in the fourth quarter of 2024”.
The response to Epic Universe “has been nothing short of phenomenal, with thousands of media stories, social posts, and fan reviews characterizing Epic as having groundbreaking creativity and taking immersive entertainment to a whole new level”, he said.
Beyond Epic Universe, Universal’s parks business continues to expand, beginning with the debut of Universal Horror Unleashed in Las Vegas this August.
This will be followed by Universal Kids Resort in Frisco, Texas, which launches next year.
Additionally, Universal plans to build its first-ever park in the UK, with construction to start in 2026 and an opening scheduled for 2031.
Jason Armstrong, Comcast’s chief financial officer, said: “At parks, we’re really looking forward to Epic Universe.
“All of the earlier reviews have been spectacular, and we’re incredibly excited for the transformation Epic will bring to visitors in the Orlando market.”
Images courtesy of Universal
