Comcast doesn’t expect the Universal Orlando slump to end anytime soon. During the company’s third quarter earnings call on October 22, Comcast President Mike Cavanagh said softness in Orlando will “trend similarly at least next quarter and in the first half of next year,” according to a transcript of the call.
That timeline means guests and investors could be waiting well into 2027 for a real turnaround. Cavanagh said he expects the business to strengthen through 2027 and return to growth in the second half of that year.
Cavanagh gave two reasons for the drop. First, he said competitors “were quicker to anticipate and recognize softness in demand and adapt their marketing strategies.” Second, he said Epic Universe has had capacity and throughput challenges that kept it from moving as many guests as Universal wanted.
The quarter’s numbers showed the pressure. Comcast’s earnings release said theme park revenue fell 4.4% to $2.6 billion, while adjusted EBITDA dropped 17.1% to $780 million.
Comcast also laid out what it’s changing to fix it.
Universal Is Bringing in New Leaders and New Deals
Cavanagh said Universal has a new head of marketing in Orlando and is leaning into offers like “three-park passes and the like” to win back guests. On the Epic Universe side, he said the team is working on technology and staff load training so rides can run closer to full capacity through the day.
The Entrance to Jurassic Park at Universal’s Islands of Adventure – Photo Credit: That Park Place
READ: Universal Orlando Now Sells a 1-Day Epic Universe Florida Resident Ticket
The shakeup goes to the top, too. Comcast said Luc Bondar, who comes from United Airlines, is joining as Chief Brand and Commercial Officer, while Randy Culbertson becomes Chief Business Officer.
Cavanagh also tried to put the Universal Orlando slump in context. He said attendance and per capita spending are still materially above where they were two years ago, before Epic Universe opened, so the drop is coming off a very high bar.
A Fast & Furious Coaster Is Headed to Orlando
In California, Universal Studios Hollywood recently opened Fast & Furious: Hollywood Drift. CFO Jason Armstrong said “Hollywood should benefit from the recent opening of the new Fast & Furious coaster” in the fourth quarter.
Cavanagh noted that the ride is coming east, too. “Next year, we will have Fast attraction coming into not Epic, but the other parks,” he said. The attraction will open in Universal Studios Orlando, replacing the Rip Ride Rocket attraction near the park’s entrance.
In Japan, Armstrong said China related travel restrictions continued to weigh on attendance at Universal Studios Japan, though he said Comcast expects to begin lapping that initial pressure in the fourth quarter.
For now, a new coaster, fresh leaders, and bundled ticket deals are Comcast’s plan to shorten the Universal Orlando slump, with Cavanagh pointing to a return to growth in the second half of 2027.
Would a Fast & Furious coaster get you back to Universal Orlando? Let us know in the comments.
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