Although attendance at Universal Orlando’s theme park declined in the second quarter of this year, Comcast executives remain optimistic about the business and tourism industry.
Revenue from the company’s content and experiences division, which includes attractions, increased, but “growth in Orlando was lower than expected as attendance began declining in June and remained under pressure in the third quarter,” Comcast Chief Financial Officer Jason Armstrong said on an earnings call this week.
Comcast’s global theme park revenue increased 2.7% in the April-May-June 2025 period, from $2.34 billion to $2.41 billion.
The company does not release attendance figures for individual parks, but executives continue to praise the results of Epic Universe, which opened in Orlando in late May 2025.
“It’s performing better than we expected,” Co-CEO Michael Kavanaugh said on a conference call with market analysts. “Guest response continues to be strong, which is driving per capita spending and…Universal Orlando is becoming a true multi-destination resort, so we don’t see any disappointment in Epic’s performance. What’s hurting Orlando as a whole is an overall decline in demand.”
The decline can be attributed to “weak consumer sentiment and rising travel costs impacting demand,” he said.
Comcast properties in Orlando include Epic Universe, Islands of Adventure, Universal Studios Florida, and Volcano Bay Water Park. Universal operates 11 on-site hotels, including three resorts that opened last year near Epic.
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“We fully expect that once economic conditions and consumer demand recover, park attendance will return and we will continue to excite our fans, because parks are a very good business, a great experience, and we are proud of this product,” Kavanaugh said.
The earnings report comes less than a month after Comcast announced it would spin off NBCUniversal into a public company that includes theme parks, film, television and streaming assets. Kavanaugh will become CEO of NBCUniversal. The goal is to complete the separation within about a year.
Comcast’s other businesses include the broadband and wireless industries. Existing companies’ sales for the second quarter were $29.94 billion, down 1.2% from the same period last year.
dbevil@orlandosentinel.com
