Updated September 4
Have you ever heard of Betteridge's law of headlines? That theory states that any question asked in a headline usually is answered by the word, "no."
And such is the case with this post, originally published on September 2. Universal Studios Hollywood has announced that it has no plans to replace its WaterWorld show, though its Evolution site plan for the park and surrounding studio property allow it the authority to build new stuff on multiple attraction sites throughout Universal City.
And that is happening with some of the projects noted below, including the new security zone. Am edited version of the original post follows.
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For years, NBCUniversal has been transforming its original Universal City property under what the company calls its "Evolution Plan." Officially designated as Project No. TR068565 by Los Angeles County, which has jurisdiction over the property, the plan includes new studio and theme park facilities.
In the latest filing under the plan, for a new technical services building behind the E.T. parking garage, Universal has filed a conceptual plan for the Evolution project.

The map includes several projects that we know about, such as the new transportation and security hub now under construction on the former surface parking lot just south of NBC Sports Grill & Brew. But on the other side of CityWalk lies something more interesting.
The site currently occupied by the WaterWorld theater is overlaid with a designation for a "New Theme Park Attraction w/ Food & Beverage Retail."
If you want to see the Conceptual Map on top of a Google Maps satellite view, I have created that for you.

Again, Universal is not planning to remove WaterWorld, but the plan map does it Universal the authority to make changes there. Who wants an entire WaterWorld land around the show theater? (Okay, I am dreaming here. But Universal's parks in Asia have WaterWorld lands, so indulge me.)
The concept map also includes a new CityWalk "Future Destination Venue" and new "Parking/Tram maintenance" location on the empty lot now being used for the Terrifier and Poltergeist houses for Halloween Horror Nights. HHN has been moving all over the property as Universal's works under the Evolution Plan claims formerly empty spaces that Universal has used to build houses for its annual Halloween event. But Universal has no plans at the moment to building anything on that site, so it could continue to be the site for HHN houses in future years.
New theme park attractions also are designed on the current tram maintenance site, as well as on two spots on the backlot, next to the old Fast & Furious "dancing cars" and the area around the show cars. Universal has promised Studio Tour changes following the closure of Fast & Furious: Supercharged, but there are no announced plans for specific changes in the designated areas.
Finally, the map designates an area next to the Frankenstein parking structure for a 500-room hotel, a project that long has been rumored for the property. That one could have rooms with up-close views of the Fast & Furious: Hollywood Drift coaster, now under construction, that will turn around just steps from the planned hotel site. However, recent rumors also have placed a 500-room hotel on the current site of the park's security screening and its adjacent parking lot. Universal has yet to announce such a project officially.
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Arrow Video has a big blu-ray set of Waterworld with a nearly 90 minute documentary on the making of it and its legacy. They bring up the stunt show and the irony that it's lasted so long newcomers don't even get it's based on a movie.
Never gotten to see it myself but would wish it sticks around as old-school theme park spot.
the WW show is fantastic and would be a huge loss. i get that USH is starving for space and much needed expansion (hagrid's motorbikes?), so why not move WW to Florida, where there's room and then the show is still in the family? better fit at USF and they would more likely have the room for it.
I'm very saddened to hear the possibility of Waterworld being taken down as it's literally one of the best stunt shows ever! Russell, that is all very true that Waterworld is pretty expensive to operate as it only shows 3-4 times a day despite its popularity. And capacity wise, that doesn't earn Universal as much as a major E-Ticket ride would. Personally, I'm hoping for a Monsters Unchained as it looks like the showbuilding could fit in that space and would look nice next to Potter. But realistically, the space around it would be way too tight of a space for an entire Dark Universe. They could possibly do a much, much smaller and denser Dark Universe, but even that would be difficult. Obviously, we don't need Curse of the Werewolf and it's not only a waste of space, but a disappointment. The question would be acommodating both Das Stakehaus and Burning Blade in addition to the Horror Makeup and Dr Pretorius. They would have to tear down the animation studio store and Laemmle courtyard for that. An even better idea for that space would be to have a unique Monster ride with a Hollywood themed facade to match the rest of Hollywood Blvd. Have guests enter the "Laemmle Theater" inspired by the man who started it all. And have a dark ride with the Monsters in their settings, arguably scarier than Monsters Unchained. And perhaps a new backstory weaving this all together. But I think you're right, Russell, that it could be a Potter expansion. And that would help crowd flow in the Upper Lot if they connect that to the rest of Wizarding World. If only they could fit Hagrid's Magical Creatures there. But given the space, it would be awesome for Hollywood's Hogsmeade to have something a unique dark ride that other Wizarding Worlds don't have- and perhaps a Great Hall restaurant, like initially rumored as a dining experience! I remember they had an interactive Magic Wand dark ride concept that never materialized. That would be awesome for that space in addition to a Great Hall restaurant!
Waterworld is arguably the best standard theme park show still running, but it is also a 30 year old show based on a forgotten IP. Particularly if the rumor of Simpsons potentially being replaced with something similar to the Bourne Stuntacular once the contract runs out is true, it would make a lot more sense why Waterworld is slated for retirement. I have no idea what they have in mind for a replacement, but as a reference for size, the show takes up almost the exact same amount of space as the Donkey Kong areas in Florida and Japan.
This thing should have been replaced 15 years ago and I think the same for the Indiana Jones show at DHS. Outdated shows based off outdated IP (I realize they are re-theming Dinosaur to Indiana Jones, which is completely absurd considering no young people nowadays care about Indiana Jones). Theme park stunt shows like this were fun in the 90s-early 2000s but anybody can watch this behind the scenes stuff on youtube now.
You right the_man25, and I completely agree that it's shocking that the Indy stunt show has lasted this long, particularly given the cost to operate and maintain that production as well as the space it consumes in an already space constrained park. However, I do think it's telling that Disney is expanding into the parking lot with the Monsters Inc coaster instead of utilizing space within the current park boundaries that could be freed up by closing Indy. I do think stunt shows have a place in an attraction lineup, and the Bourne Stuntacular is a prime example of how an old-school stunt show can still work in a modern theme park.
I just think Waterworld takes up so much space and costs so much to produce because it uses so many practical effects that it was not viewed as a valuable attraction to a park looking to more efficiently use the space it does have. I do think of all theme parks in the world, USH should stage some type of stunt show, so hopefully the closure of Waterworld will be followed by a new stuntshow (as AJ noted the potential of Bourne coming to the Simpsons building), because I think it's essential for a park like USH to have some behind the scenes looks at moviemaking (beyond what is provided on the tram).
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If true, this would be an incredibly disappointing loss. However, when dealing with an IP that is going on 30 years old and a park and adjacent studio starving for space, it's difficult to have a massive show theater that can only be used 3-4 times per day. There have been plenty of rumors circling about what Universal could use the Waterworld space for (most revolve around a second Harry Potter land/e-ticket attraction), but whether it's based on something from another park or something completely unique, a ride/land with retail and dining will absolutely generate more revenue and interest than Waterworld.