27 Jul 2017
New attractions help Universal theme parks to surge in revenues
BY Tom Anstey
NBCUniversal's theme park division experienced a surge in revenue during Q2 thanks to its investment in new attractions.
During the second three months of the year, revenue for the Comcast-owned organisation grew 15.6 per cent, up from US$1.13bn (€965m, £860m) in 2016 to US$1.3bn (€1.11bn, £989m) in 2017.
Reflecting higher attendance and per capita spending, the growth was buoyed by the continued popularity of the recently-opened Harry Potter world at Universal Studios Hollywood, Minion Park at Universal Japan and Volcano Bay waterpark in Orlando.
Using adjusted figures based on the shift of the Easter break that affected the first quarter, earnings before interest, taxes, depreciation, and amortisation (EBITDA) were US$551m (€470.5m, £419.1m), up 17.3 per cent from US$469m (€400.5m, £356.8m) for the same period in 2016.
Profits for the first six months of the year are also up with revenues increasing 12.5 per cent – US$2.43bn (€2bn, £1.84bn) from US$2.16bn (€1.84bn, £1.64bn) for the same period last year. EBITDA for six months increased by 12.3 per cent, up from US$844m (€720.7m, £642m) to US$948m (€809.5m, £721.5m) for the period.
These results reflected higher revenue, which was partially offset by an increase in operating expenses, including costs to support new attractions under development.
As part of its investment programme, Universal is currently planning to create Nintendo attractions starting at Universal Japan, and later in the US.
The operator also revealed a new Harry Potter addition to Orlando’s Islands of Adventure, replacing its Dragon Challenge coasters with a yet-to-be revealed highly-themed coaster experience.
Last year the company broke ground on its US$7.4bn (€6.9bn £5.9bn) Chinese venture – Universal’s largest ever theme park project.
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