Epic Universe earns praise, but Universal admits Orlando attendance is falling

Universal Orlando attendance softens

Cavanagh attributed the slowdown partly to higher fuel prices and weaker consumer sentiment. His remarks presented a noticeably more cautious outlook for the theme park business than the enthusiasm surrounding Epic Universe’s opening.

Universal did not provide a separate update on attendance or performance at Universal Studios Hollywood during the prepared remarks. Universal Studios Japan is also facing pressure, with its Osaka resort affected by China-related travel restrictions.

Despite those challenges, Comcast remains optimistic about the long-term future of its theme park division. Executives pointed to Epic Universe, the recently opened Universal Kids Resort in Frisco, Texas, and the planned Universal United Kingdom resort as opportunities for continued growth.

Peacock reaches profitability

Elsewhere within NBCUniversal, Peacock delivered meaningful profitability for the first time. The streaming platform added approximately 2 million paid subscribers, bringing its total to 48 million.

Executives credited programming including the World Cup and “Love Island” with driving viewership, engagement and advertising sales. “Love Island” was described as the summer’s most-watched streaming program.

Comcast also highlighted the strength of Universal’s film slate, including the successful opening of Christopher Nolan’s “The Odyssey,” as it prepares to complete the corporate separation within approximately one year.

Epic Universe drives growth as attendance softens

Theme park revenue increased 3% during the quarter, although adjusted EBITDA declined because of China-related travel restrictions affecting Universal Studios Japan. Comcast reported growth at its U.S. parks, with both revenue and adjusted EBITDA improving compared with the year-ago quarter that included Epic Universe’s initial opening costs.

Executives reiterated that attendance in Orlando began to soften in June and has remained under pressure during the third quarter. Attendance at Universal Studios Hollywood improved modestly, but Comcast does not expect a more significant improvement until ‘Fast & Furious: Hollywood Drift‘ opens later this year.

Asked directly about Orlando’s attendance weakness, Comcast executives attributed the slowdown to weaker consumer sentiment and higher travel costs affecting the destination broadly — not disappointment with Epic Universe. Although attendance has remained under pressure during the third quarter, the company does not view the slowdown as a permanent change to its outlook.

Executives said Epic Universe is performing as intended, generating strong guest satisfaction and higher per-capita spending while helping transform Universal Orlando into a true multi-day destination resort. They emphasized there is “nothing to feel disappointed about” in the new park’s performance.

Comcast remains confident that attendance will rebound as economic conditions improve. Executives also expressed confidence in Universal Destinations & Experiences Chairman and CEO Mark Woodbury and the company’s long-term expansion plans, including its proposed United Kingdom resort. They said lessons from Epic Universe will help shape future projects.

Despite the near-term pressures, Comcast remains optimistic about the division’s long-term growth, pointing to Epic Universe, Universal Kids Resort in Frisco, Texas, and the proposed Universal Studios Great Britain resort.