Universal is betting on billions of dollars that thrill seekers and vacationers will queue in their thousands of people this month to mount the roller coaster in its last theme park, which has the Harry Potter magic ministry and a super Nintendo world.
But real life outside the doors of the epic universe, and the theme parks market, are both very different from 2019, when the parent company of Universal, Comcaststarted to plan the new solid site in Orlando, Florida.
Managers and industry analysts have started to fear that the trade And the cultural wars launched by the arrival of Donald Trump at the White House could respond to Florida visitors this year.
A manager expressed his concern that the actions of the White House could dissuade visitors abroad, as well as risk an economic slowdown that could be able to appear among national visitors for daily tickets which will be valued at more than $ 100.
Epic Universe, which opens this month, is not the only American investment that Comcast makes in the sector. The group also opens Universal Horror Unleashed, the first permanent horror all year round “Entertainment Experience” in Las Vegas in August; And, in 2026, his first Universal Kids Resort in Frisco, Texas, marketed families with younger children.
Rival DisneyThe affairs of parks and experiences are also developing in the United States and abroad, with $ 60 billion in investment scheduled for the next decade.
Disney has more expansion projects in the world than in any time in its history, including new “land” and attractions in national parks in Florida and California. This week, the group revealed plans For a new theme park on Yas Island, Abu Dhabi, although funded by the Miral local entertainment company.
Themed parks were a crucial engine for growth for the two groups, with cash flows helping to support Disney investments in other areas, such as streaming and films. Parks and experiences are The greatest source of operating profit for DisneyAnd the second largest engine of income after its entertainment division.
The president of Comcast, Mike Cavanagh,, said last month on the importance of his given theme parking activity – unlike his televised arm – he is “not at all exposed to the change of time on the screens …
Epic will be Comcast's biggest investment in his theme park company. The site – the fourth from Comcast to Orlando – includes five different themed areas, including the sorcerer world of Harry Potter, and how to train your dragon. Its opening will allow the media group to offer a week's vacation destinations for tourists on its Orlando sites.
But the opening of the park – the largest in Florida for more than two decades – comes after a more difficult period for the sector in the past year.
Comcast and Disney experienced strong growth in 2022 and 2023 after the end of the pandemic, which sparked a boom in the demand for experiences and travel while people were looking to catch up with lost time under forced locks.
But this rebound was faded in 2024, leaving the frequentation of Florida parks still short of the pre-countryic heights of 2019, according to Aecom, which provides data on industry.
Comcast's revenues in its Parks division rose from $ 8.9 billion in 2023 to $ 8.6 billion in 2024, caused by a drop in fleet attendance, with profits of $ 3.3 billion to $ 2.9 billion. In the first quarter of this year, the Comcast parks division saw income drop again, which he blamed on the Hollywood forest fires.
Last year, Disney experiences have been better successful – including cruising holidays – with revenues up 5% to 34.1 billion dollars, but still much slower than growth of 16% the previous year.
A note from the Redburn Atlantic analysts of Rothschild & Co in October in October warned that the Florida theme park market was “not healthy”, with 2023 participants at around 13% below the 2019 levels. He blamed the too aggressive pricing strategies that have reached affordability, in particular for foreign visitors.
“While Epic could well attract new visitors to Florida,” wrote Redburn Atlantic, “given the way in which Florida's attendance has not returned to pre-pale levels, with the partly affordability to blame, we suspect that it is more likely to take part of Disney.”
Giant park operators such as Disney and Comcast – followed by intermediate level operators such as Seaworld and Six flags – increased revenues per capita thanks to a sharp increase in prices. They were willing to sacrifice a high attendance accordingly, said Chris Yoshii, the world director of leisure and culture services at AECOM.
It was partly to offer a “premium experience” for those who can afford to visit, he explained, without needing it to queue for too long. The parks in Orlando and California last summer were supported by rich foreign visitors, according to Yoshii.
“He wonders if (a theme park) is really a middle class activity … Family budgets are stretched and they are really prices (these consumers),” he said.
“They reach a point where this is about as much as they can do in terms of price. In the future, growing prices and profitability will be difficult in economically uncertain times,” added Yoshii.
Analysts also ask whether Trump's business war will add to this uncertainty for American theme parks. Airlines and hotel groups have warned that domestic trips are coming, while the number of visitors abroad could be affected by the threat of stricter and less welcoming border control.
Craig Moffett, analyst at Moffettnathanson, said last month “very important decline in international trips to the United States …
But so far, Comcast and Disney say that the demand of American consumers remains strong for their entertainment.
Cavanagh de Comcast declared in the call of analysts that ticket sales in advance and hotel reservations were “strong for global parks and for Epic”.
Sales “continue to follow well” and there was “continuous stability in the backdrop of the parks,” he added, with “many people from the United States” who do not have to fly to Florida.
He admitted “there can be a delayed effect between what airlines are starting to report and what we see”, but so far “no real sign of this in our business when we sit here now”.
Comcast and Disney are convinced that their new parks and experiences will cause new audiences. The leaders say that one of the reasons for slower growth last year was the lack of major major attractions, which tend to stimulate demand. Comcast hopes that Epic will change that – at least this year.
JPMorgan analysts provide that the slate of new comcast openings should “draw on new demographic and geographies – capturing latent demand”.
Disney expects its experienced division to increase from 6% to 8% over the year, and said a first half of the year. He told analysts this week that Walt Disney World reservations were up 4% in the third quarter against a year ago, and 7% in the fourth, which makes society “very optimistic” about its prospects in the United States.
Johnston acknowledged that foreign visitors to American parks were slightly decreasing in a call with analysts, but added that it had been more than offset by the American participants.
“We have seen a little impact, but it is literally as in terms of mixing one and a half percent. And what I would expect to go ahead is something similar to that. The good news is that we are clearly more than compensating with domestic attendance.”
