NBCUniversal theme parks released today the most lucrative fourth quarter led by Universal Studio Orlando, where Epic Universe is growing.
Universal Studio Hollywood and Japan are lagging behind, and Universal Beijing Resort, which opened last September, will receive modest profits in 2022. “It’s impossible not to be thrilled with our theme park business,” NBCUniversal CEO Jeff Shell said during a conversation with Wall Street. analysts after Comcast’s parental income.
The branch’s revenue, which approached $ 1.9 billion, grew nearly 200% from $ 648 last year in the last three months of 2021. Ebitda, a kind of operating income, rose to $ 674 million from $ 3 million due to strong domestic attendance growth and per capita spending in the US and Japan. Throughout 2021, park revenues grew from $ 2 billion to $ 5 billion and amounted to revenue of $ 1.3 billion from a loss of $ 477 million in 2020, when parks were closed for much of the year and capacity was limited for the most part the rest is.
Government mandates and power constraints in Japan eased last quarter. Executives said they are pleased with Beijing’s first full quarter of operations with high enthusiasm for visitors, but overall attendance is limited by restrictions related to Covid-19, which still creates volatility for business
However, “We haven’t seen any exposure to Omicron in Florida, for example, and the very limited exposure we seem to have gone through in Hollywood and Japan. Everything seems to be going in the right direction, in part because we continued to invest in our attractions during the pandemic, ”Shell said, referring to VelociCoaster Jurassic World in Orlando, Secret Life of Pets in Hollywood and Super Nintedo World in Japan. works very well and has led to the park rebounding very, very quickly. “
International attendance remains limited. Historically, in Orlando foreign guests were usually in the range of 30%, now it is just over 20%, mostly from the UK and Europe. Latin America did not return. “So there’s the inside out,” Shell said. And “when travel opens in China after the Olympics, we are very optimistic about this park.”
Epic Universe, a new park in Orlando, is in full swing and will open by the summer of 2025. The 750-acre site, announced in late summer 2019, is located next to the Orange County Convention Center. Around the park will be hotels, shops, restaurants and an entertainment center. This is Comcast / NBCUniversal’s largest investment in its theme park business.
“It’s a business where, if you build great rides, there’s a deferred demand. We’re going to make a fairytale park in Epic and go as fast as we can now to make up for lost time, ”said Comcast CEO Brian Roberts.