Advance Bookings Are Strong at Epic Universe
Comcast posted its quarterly earnings on April 24th, 2025.
While the news proved anything but glowingly positive – the stock dropped significantly after the announcement – that’s okay.
(Jeff Fusco/Comcast via AP Images)
You’re here for theme park news. On that front, you’ll be quite pleased.
According to Comcast executives, advance bookings are strong at Universal Epic Universe. Let’s discuss this morning’s reveals.
About Comcast
In case you’ve forgotten or didn’t know, Comcast acquired NBCUniversal in 2011 and became the full owner in 2013.
So, Comcast has been running Universal Studios since right around the time we all fell in love with wizardry.
Photo: Universal
Technically, The Wizarding World of Harry Potter pre-dates Comcast’s ownership, which is kind of the point.
Comcast executives recognized a lucrative growth opportunity with Universal Studios.
The theme parks represented a key reason why Comcast coveted and eventually acquired NBCUniversal.
Since then, Comcast has done an excellent job in providing Universal with the necessary resources for expansion.
Universal
While some of the attractions Universal has built haven’t been up to snuff – See: Hollywood Rip Ride Rockit – it’s not for lack of funding.
Comcast believes in Universal Studios as a lucrative, high-margin business.
Not coincidentally, Universal Epic Universe will open in less than a month.
This multi-billion-dollar theme park exists because Comcast officials understand that you gotta spend money to make money.
Image: Universal
However, there’s a catch with this philosophy. When Comcast struggles financially, Universal Studios loses spending power.
We witnessed this during the pandemic, as construction on Epic Universe slowed to a crawl.
Photo: Universal
The park took more than a year longer to complete than projected, which caused many to worry about its quality.
The lingering fear was that Comcast would force Universal to cut corners on the park.
Photo: Universal
For those of you reading or even watching early reviews of Epic Universe, you realize this isn’t the case.
As a corporate owner, Comcast has proven to be the best kind of “hands-off” overlord who writes checks whenever needed.
Photo: Universal
Still, Comcast’s financials are inexorably linked with Universal’s. So, let’s quickly discuss them.
Comcast’s Quarterly Earnings
Image: Universal
During the fiscal first quarter of 2025, Comcast exceeded its projected earnings per share (EPS).
Wall Street had projected 98 cents, but Comcast’s results came in at $1.09.
Image: Universal
Similarly, revenue slightly surpassed expectations, with $29.89 billion against projections of $29.77.
So, Comcast beat forecasts in the two categories that matter the most.
Still, the stock fell by $1.28 or 3.7 percent on the day. And the reason why makes sense.
Comcast’s business model relies on several high-margin divisions that make most of the money.
Photo: Universal
Universal Studios is one, but let’s be honest that Comcast was making money long before it had a theme park division.
Broadband remains the bread and butter of Comcast because that’s how the company sustains its media empire.
Universal
In this category, revenue increased by a modest 1.7 percent to $6.56 billion.
However, another 199,000 customers canceled service, which is an ongoing issue with Comcast.
Universal
People are finding cheaper/better broadband elsewhere, which is causing a lingering sense of foreboding about future revenue.
In addition, one of Comcast’s oldest businesses, cable television, continues to lose subscribers.
Universal
Another 427,000 customers cut the cord during the first quarter of 2025.
The current subscriber spiral is unsustainable, as cable television is approaching a legitimate financial breaking point.
Epic
As a reminder, Comcast previously reported its intent to spin off most cable programming into a new entity.
Until then, there’s not much Comcast can do. It’s paying for content while losing customers, a venomous combination.
Not coincidentally, Comcast’s net income fell 12.5 percent in the quarter, a worrisome drop.
On the bright side, Peacock only lost $215 million this past quarter, which I swear to you is good news.
Great News about Universal Studios
Photo: Universal
Given all the struggles at the top of the food chain and in other Comcast departments, you may be worried about Universal Studios.
Well, I have great news on that front. But let’s cover the bad news first.
Photo: Universal
Revenue fell a modest five percent year-over-year. There’s a good reason why, though.
Remember that the Southern California wildfires occurred in January, forcing a temporary closure at Universal Studios Hollywood.
Photo: Universal
The park suffered reduced attendance in the aftermath of these tragic events.
While theme park attendance is a fractional concern in the greater scheme, it did cause a revenue drop of five percent.
Photo: Universal
Everyone in the industry expected that, as Universal Studios Hollywood remained a ghost town for weeks afterward.
Thankfully, attendance remained “stable in Florida” according to Comcast President Mike Cavanagh.
Photo: Universal
He also expanded on the current status of Epic Universe, which opens during Memorial Day Week:
“What we’re seeing for advance bookings, both ticket sales and hotel bookings, are strong for the overall parks and for Epic.
Photo: Universal
So, while I see the same headlines you’re seeing about airlines and the like, some of that might be outside the window of our booking windows, but what we’re seeing continues to be tracking well.”
Cavanagh was addressing overriding economic concerns regarding disposable income and its impact on tourism.
Photo: Universal
The President’s comments indicate that while nobody can predict the future, Universal Studios appears above the fray.
Specifically, Epic Universe is tracking for an exceptional opening, as we’d all expected.
Photo: Universal
So, despite all the global/local economic unrest, Universal Studios appears to be in excellent financial shape. As for Comcast, we’ll see…
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! Thank you!
Feature Photo: Universal
