The Comcast 3rd Quarter 2022 results are in and Universal Parks & Resorts performed extremely well. Theme Parks adjusted EBITDA actually set a record high for a third quarter with an 88.6% increase to $819 million. These results are due to growth at each of the theme parks.
Revenue from the Theme Parks division of NBCUniversal increased 42.4% to $2.1 billion. This increase is thanks to strong demand, specifically at Universal Orlando Resort and Universal Studios Hollywood. The U.S. parks have seen attendance and guest spending increasing year-over-year.
Even in a time of economic uncertainty, Comcast is seeing no impact on its parks. Comcast and NBCUniversal remain committed to the idea that investments made during the pandemic are paying off which is why they’re seeing no weaknesses. The investment in Epic Universe will make the Florida resort into a weeklong destination set to open in summer 2025.
Outside of the U.S. parks, Universal Beijing Resort generated its first profitable quarter since opening in September 2021. Universal Japan continues to rebound from the effects of the pandemic with positive momentum and the resort ended the quarter strong.
Disney needs to watch itself. It’s losing more and more people to Universal every day. People who love Disney are fed up with all the changes and systems that make the parks a job more than a joy. Plus Disney doesn’t seem to know how to quickly build things anymore. Universal is building an entire new theme park in the time Disney is still trying to get Tron up and running and refurbishing an existing attraction.