NBCUniversal parent company Comcast has reported record adjusted earnings for its theme parks in a first quarter, and executives say the segment is “clearly on a roll”.
“We delivered strong first quarter results as our team executed exceptionally well,” said Brian Roberts, chairman and CEO of Comcast.
The earnings report comes just days after NBCUniversal CEO Jeff Shell left the company amid sexual harassment claims.
Comcast president Mike Cavanagh is now running NBCUniversal, which includes Universal’s parks, film studio and Peacock streaming service.
Leadership change at NBCUniversal
Adjusted earnings for the theme parks division increased by 46 percent to $658 million. “Our theme parks set a new record of adjusted EBITDA for a first quarter,” Roberts said.
Theme parks revenue also increased due to higher income at the company’s international and US destinations.
The international parks were impacted by pandemic restrictions in Q1 2022. In the US, Universal Studios Hollywood opened Super Nintendo World during the 2023 quarter.
In an earnings call, Cavanagh said the company’s parks “are resonating with our customers and this segment is clearly on a roll”.
“Japan has come roaring back and Beijing returned to profitability following last year, when both were operating under Covid-related restrictions,” he added.
“And on the domestic side, Orlando continues to do well and Hollywood just opened Super Nintendo World with great success.”
Cavanagh said the “outstanding performance provides us with even more confidence that the investments we are making in new lands and attractions will also generate strong returns and I’m excited for what’s to come”.
He referred to the launch of the Donkey Kong expansion at Universal Studios Japan’s Super Nintendo World in 2024, as well as the opening of Epic Universe in Orlando in 2025.
Cavanagh also noted the horror-themed experience coming to AREA15 in Las Vegas, and the new family-friendly resort for Texas.
Images: NBCUniversal
