UniversalParksBlog News for November 1st, 2021
Universal Studios can officially declare that it’s recovered from the pandemic. We’ve got the financials to prove it.
Let’s talk about some good news for a change in the latest UniversalParksBlog update.
Photo:instagram/universalorlando
Finally, a Good Fiscal Quarter for Universal!
Photo: NBC Universal
Let’s be honest. You could care less about the money parts of theme park discussions. However, they’re vitally important to your enjoyment. When parks are earning more money, their owners are more likely to invest in upgrades.
The reverse also applies. When theme parks crashed last year, Comcast, the owner of NBCUniversal, pulled the plug on Epic Universe. Thankfully, the corporation has since loosened the purse strings and allowed construction to begin anew at the next gate at Universal Orlando Resort.
Photo:Nintendo/Universal Studios
Similarly, Universal has started in earnest on Super Nintendo World at Universal Studios Hollywood.
The point is that when the parks make more money, we get better attractions and amenities. Given this fact, I’m happy to report that Universal just announced an excellent fiscal quarter:
Comcast Q3 earnings report is out, and the company's theme parks division continues to show recovery:
"Theme Parks delivered its most profitable quarter since the first quarter of 2020, driven by Universal Orlando…" pic.twitter.com/F1xTJ71Bm5
— Ashley Carter (@AshleyLCarter1) October 28, 2021
I’ll save some trouble for those of you who don’t speak earnings reports.During the fiscal third quarter of 2020, Universal theme parks only grossed $385 million.Much of the problem came from some closed theme parks and reduced attendance at others.
While Universal Orlando Resort was up and running by then, Universal Studios Hollywood wasn’t.Even in Orlando, capacity limits prevented significant revenue opportunities.
Fast forward to 2021! The reported earnings for the fiscal third quarter this year were $1.449 billion. Overall, NBCUniversal claimed revenue of $10 billion.Overall, the theme parks division netted nearly 15 percent of the whole pie for NBCUniversal. So that’s how significant the parks division is to its bottom line!
Evaluating the Bottom Line
Photo:instagram/universalorlando
To a larger point, Universal’s theme park revenue nearly quadrupled year-over-year. Still, that’s something of an unfair comparison. So, let’s find one that’s apples-to-apples instead.
In 2018, Universal parks netted $1.528 billion in the fiscal third quarter and then $1.631 billion for the same timeframe in 2019.Yes, Universal is down slightly…but not significantly. Ergo, that’s a huge win for NBCUniversal!
Photo:skillastics.com
Toward the end of the pandemic and with the Delta variant wreaking havoc, Universal theme parks finished only $79 million behind the pace from three years ago.Virtually any suffering business would take that, given the apocalyptic marketplace conditions of the past 18 months.
NBCUniversal execs excitedly declared this quarter as the best one for the parks since the start of 2020.They believe that the worst is over, and Universal Studios has survived intact.Here’s a quote from one such exec: “So overall on parks, we are encouraged by the continued recovery, but getting back to and then exceeding pre-pandemic levels of EBITDA will likely require the improvements of international visitation.”
The United States claims better vaccination status and lesser restrictions than other countries dealing with the pandemic.
Photo:Universal Studios Beijing
As such, those parks have suffered more during the latest quarter. In addition, another park, Universal Studios Beijing, only operated for 10 days during the fiscal quarter.
For this reason, Universal officials expect an even stronger recovery during the all-important fiscal fourth quarter, the one that includes the holiday season.
The Holidays at Universal
Credit: Universal
Orange County, Florida, just lifted its state of emergency declaration. Unfortunately, this proclamation had impacted Universal Orlando Resort.Now that it’s over, park officials have scheduled a full-fledged Christmas celebration.
Credit: Universal
The event technically starts on November 13th, when the holiday lighting will return. You may recall that most events weren’t available in their usual forms last year. For example, although some floats ran, the Macy’s Parade and How the Grinch Stole Christmas shows didn’t operate in 2020.
Well, they’re back in less than two weeks, as is The Dark Arts at Hogwarts Castle!
There's no holding back this year's celebration! 🙌 pic.twitter.com/6IoEI5xfKo
— Universal Orlando Resort (@UniversalORL) October 7, 2021
The Universal Holiday Tour also returns in its proper form this year. This tour will start on October 21st, and it will sell for $69.99-$79.99 per adult, depending on the date.For your money, you’ll get character greetings with Santa Claus and the Grinch and reserved seating for the Grinchmas show, among other stuff.
Photo: Universal Orlando
This tour will run through January 2nd and is totally worth the money. You deserve to treat yourself this holiday season, right?
By the way, even though November just started, you may already notice some holiday decorations if you visit today.
Universal workers are just like me. They can’t wait for the holidays to begin!
Theme Park News and Notes
International travelers received some good news about potential U.S. vacations.The American travel ban on Europeans expires on November 8th. Therefore, fully vaccinated guests may enter the United States starting on that date.
You must present proof of a negative COVID-19 test within three days of your arrival.The new rules no longer require mandatory quarantining after you enter America.
Photo: County10.com
If you’re not vaccinated, you must take a test on the day of your flight and the day of your departure. Should you fail, you won’t be able to enter/leave.As such, getting vaccinated is the best approach to ensure a safe and stress-free American vacation.
In Universal Studios Florida news, Fear Factor Live closes forever. Last night, Halloween, represented its final performance.
Let’s be honest that this franchise hasn’t been relevant for many years. So, it’s somewhat surprising that the show ran as long as it did. Here’s a stroll down memory lane:
In other park news, Revenge of the Mummy will close on January 7th, 2022, for what park officials are calling maintenance.
However, the roller coaster will apparently remain down for approximately six months. That sure sounds like an overhaul to me. It’s not the only one in play, either.
Fast & Furious – Supercharged will receive a planned refurbishment soon. Universal will reportedly attempt to “fix” the attraction.However, its downtime will be brief. For this reason, I’m dubious that park officials can do much to address one of the least popular Universal rides.
To make sweeping changes, Supercharged would need similar downtime to what Revenge of the Mummy will take.
Photo: orlandoairports.net
Finally, please be aware that you may now schedule security checks at Orlando International Airport. Here’s a tweet about it:
Families & Single Riders, unite! Offering now: Reservation Lane powered by @Clear. You can reserve a time slot to go through security, just show up at that time, scan your reservation and go through an exclusive & shorter lane. pic.twitter.com/AxPT3Kk2aV
— Orlando International Airport (@MCO) October 21, 2021
This enhancement should make your next airport experience in Orlando much easier.
Thanks for visiting UniversalParksBlog.com! Want to go to Universal? For a FREE quote on your next Universal vacation, please fill out the form below and one of the agents from Let’s Adventure Travel will be in touch soon!
Photo:instagram/universalorlando
