Epic Universe drives record earnings at Universal theme parks
Universal's new Orlando theme park drove higher revenue and record earnings for the company's theme park division in the final quarter of 2025, Comcast reported this morning.
Comcast's Theme Parks segment reported $2.893 billion in revenue for the final three months of the year, up 21.9% from the same period in 2024. Quarterly EBITDA crossed the billion-dollar mark for the first time, with the segment earning $1.035 billion for the quarter, up 23.5% over the same period one year before.
For the year, Comcast reported $9.836 billion in revenue for its Theme Parks segment in 2025, up 14.2% from 2024. That resulted in $3.08 billion in Adjusted EBITDA, up 4.5 from the year before.
Comcast attributed the growth to the opening of Epic Universe driving higher attendance in Orlando, although the company noted that was partially offset by lower revenue at Universal Studios Hollywood.
"The opening of Epic Universe is already acting as a catalyst across Orlando, driving longer stays, higher per cap spending, and increased demand across our parks and hotels, reinforcing the attractive returns we see from continued investment in this business," Comcast Chairman and Co-CEO Brian L. Roberts said.
CFO Jason S. Armstrong added, "While we're not yet operating at full run-rate capacity, we've made meaningful progress expanding ride throughput, and we remain focused on scaling further over the next several quarters, with higher attendance, stronger per caps, and additional operating leverage over time."
Universal Epic Universe opened at the Universal Orlando Resort in May 2025. Looking ahead to the rest of 2026, Universal Studios Hollywood will open its Fast & Furious Hollywood Drift roller coaster - Universal's fastest coaster. Universal Kids Resort will open in Texas. And Universal is breaking ground on its new theme park in the United Kingdom.
For updates on more Universal and theme park news, please sign up for Theme Park Insider's weekly newsletter.
Replies (4)
Epic is not at Full capacity but the wait times are still horrible?
Currently as of right now- The Wizarding World of Harry Potter — Ministry of Magic
180 minutes wait time at 10:16 am Jan 30th....
Almost 1 year still opening are still so popular.
I mean, it says something that the day that I went crowds were only at 15% according to Queue Times, but Mario kart, BotM, and MCM were above an hour and a half for most of the day. This park has a capacity problem.
Epic is experiencing the same issues that many other new theme park lands and expansions are experiencing. So much effort, attention, and resources are being put into headlining attractions and experiences, along with their queues and overall theming surrounding them, that there isn't enough money and attention being put into supporting attractions and experiences. The humble flat ride has basically become a relic in newer theme parks, and the expectations created by top tier rides and attractions mean guests now almost reject the notion of waiting 20 minutes to ride a stock ride. As world-class rides and attractions continue to evolve and get better, standard flat rides are still stuck in the 20th century with just a few exceptions.
Also, the constant pressure to generate revenue has made it almost implausible for designers to justify installing an attraction that doesn't feature an upcharge or generate revenue through merchandise. Who's going to buy a t-shirt or key chain for a spinning pendulum or bumper cars even if those attractions are highly themed? Why would someone buy an Express Pass (or other queue avoidance product) to skip a line on a cloned attraction or one that has half the wait of a headliner? Because of this, more and more major parks are going all-in on their E/F-ticket attractions, and the atmosphere/theming around them, and paying little attention to providing guests other attractions or activities to do within those intricately themed environments. This is precisely why Universal is building another attraction for MoM. You can't have a park full of e-tickets, and you cannot simply replace attractions with something similar and expect to have room to grow.
This article has been archived and is no longer accepting comments.
Good news. More funds for expansion, and great for Orlando tourism.