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Universal Studios Suffers “Difficult” Drop in Attendance and Revenue Across Theme Parks

in Universal Orlando, Universal Studios, Universal Studios Hollywood

Posted on by Luke Dammann 6 Comments
A collage of three theme park landmarks central to Florida tourism: the colorful SeaWorld Orlando sign, Universal's rotating globe fountain, and Disney's Cinderella Castle under a blue sky.

Credit: Inside the Magic

Universal Studios sees a sharp decline in revenue and attendance.

The shops at Diagon Alley with the fire breathing dragon above Gringotts Bank in the immersive area inspired by the Wizarding World of Harry Potter at Universal Studios Florida in Universal Orlando Resort
Credit: Universal

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Comcast recently posted results for its second quarter of 2024, revealing that the company’s theme park business saw revenue shrink to $1.98 billion, a drop of over 10% compared to the same quarter in 2023.

“In Studios and Theme Parks, we faced difficult comparisons to last year,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. However, Roberts said the company is still excited about the future. “Our upcoming film and TV content and the debut of Epic Universe bode very well for the future.

According to the report, lower attendance at Universal’s domestic theme parks was a contributing factor in lower revenue. Comcast also points toward the negative impact of foreign currency at international Universal Studios theme park locations.

In comparison, The Walt Disney Company’s second quarter results revealed a 1.2% year-over-year increase in revenue. The report also revealed Disney’s entertainment wing was very successful.

Mardi Gras parade float
Credit: Universal Orlando Resort

There are two Universal resorts in the U.S.: one in Florida, Universal Orlando, and one in California, Universal Studios Hollywood.

The earnings report can be seen in its entirety here.

Regardless of reports and earnings results, excitement is incredibly high for the Universal fleet of theme parks, especially with Epic Universe right around the corner.

Epic Universe Takes Shape

The entrance to Dark Universe, an immersive land inspired by classic and new Universal monsters coming to Universal Epic Universe in Universal Orlando Resort
Credit: NBCUniversal

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For the uninitiated, Epic Universe is Universal’s next major theme park. When complete, it will be part of the Universal Orlando Resort, joining the resort’s two other theme parks, Universal’s Islands of Adventure and Universal Studios Florida.

Epic Universe will be just that, “epic,” and is set to feature dozens of new rides, attractions, and experiences for guests to enjoy. The new theme park will be anchored by some of the world’s most famous and recognizable brands, such as Nintendo and Super Mario, as well as Harry Potter, a franchise that has already worked excellently for the Universal theme parks.

While an official opening date is yet to be revealed, Epic Universe is scheduled to open sometime in the summer of 2025. The new park will undoubtedly shake up the entire theme park industry when it does finally open and will likely kick up the competition among other Florida theme parks.

Will you be visiting Epic Universe? What’s your favorite Universal Studios theme park?

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