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Disney Theme Parks Report Strong Results, While Comcast’s Universal Parks Dip
The New York Times • • business
Key Points:
- Comcast, owner of Universal parks, reported a 5% quarterly profit decline and attributed it to decreased demand in Orlando due to higher fuel and airline prices and reduced consumer confidence.
- Disney reported a strong quarter with a 3% attendance increase at its Florida and California parks, exceeding Wall Street expectations, and indicated robust bookings for the rest of the year.
- Disney’s CFO suggested the company is gaining market share from Universal, supported by targeted marketing campaigns and new attractions like the “Bluey” live shows.
- Universal’s new $7 billion Epic Universe park has drawn visitors, but older Universal parks in Orlando have seen less growth as they await new rides, and the park faced negative publicity after a fatal accident on a roller coaster.
- The contrasting reports from Comcast and Disney highlight the complexity of assessing the tourism economy, with consumers spending on travel but becoming more selective about where to spend.
