Comcast: Universal Orlando theme parks continue to suffer pandemic financial loss
First quarter of 2021 down by 33%, earnings show
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Comcast: Universal Orlando theme parks continue to suffer pandemic financial loss
ORLANDO, Fla. – The parent company for Universal Orlando Resort has released a report showing its theme parks continue to suffer financial losses due to the pandemic.
According to Comcast’s first quarter earnings report, theme parks revenue decreased by 33.1% to $619 million in the first quarter of 2021.
The reported loss for the theme parks division was $61 million.
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“Our theme parks once again reached breakeven, excluding Universal Beijing Resort pre-opening costs; and – to the delight of our guests – we successfully re-opened Universal Studios Hollywood on April 16th,” CEO of Comcast Brian Roberts said in a news release.
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For the last several months Walt Disney World has been operating at about 35% of total capacity. The need for social distancing has limited the number of people which are allowed in the park at any given time, which has in turn limited what the theme parks are able to offer. Not all Disney World cast members have come back to work since the parks reopened because there simply aren t enough people in the parks to justify opening every attraction, gift shop and dining location. However, the state of Florida just made a major change to its pandemic rules, which has potentially opened the door to let Walt Disney World let more people in the parks.