Universal Theme Parks revenue down for first quarter of 2021

Comcast Corporation reported their first quarter earnings which ended on March 31, 2021. NBCUniversal theme parks reached breakeven for the second consecutive quarter, excluding pre-opening costs of Universal Beijing Resort. Universal’s new streaming service, Peacock will now also be included in the NBCUniversal earnings report. It was previously included in Corporate and Other. NBCUniversal will now be presented in three reportable business segments: Media, Studios and Theme Parks.

Related:Universal Studios Hollywood will allow out of state guests who are vaccinated

Theme Parks revenue decreased 33.1% to $619 millionin the first quarter of 2021, primarily due to Universal Orlando Resort and Universal Studios Japan operating at limited capacity, while Universal Studios Hollywood remained closed during the quarter as a result of COVID-19. Theme Parks Adjusted EBITDA loss was $61 million in the first quarter of 2021, which included pre-opening costs related to Universal Beijing Resort. The Universal Beijing Resort is set to open later this year.

Related: Universal Studios Beijing theme park and Universal CityWalk opening in 2021

With Universal Hollywood reopening this month, hopefully we will see an increase in theme park revenue. Universal Orlando has a new coaster opening in June as well as a new park, Epic Universe in the works. While earning may be down the future of Universal looks up.

For the full earning report you can visit their article here. All information in this article is from the article at Comcast.

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