Hey Thrill Seekers,
On June 18th 2010 when Universal officially opened the gates to the Wizarding World of Harry Potter no one could have predicted just how successful the new land would be.
Yesterday Comcast (the owners of Universal) released their quarter 3 results. For the third quarter of 2015, revenue from their Theme Park offering increased 14.1% to $896 million compared to $786 million in the third quarter of 2014, reflecting higher guest attendance and per capita spending. Third quarter operating cash flow increased 14.1% to $458 million compared to $402 million in the same period last year, reflecting higher revenue, partially offset by an increase in operating costs to support new attractions and $18 million of transaction-related costs associated with the development of a theme park in China.
For the nine months ended September 30, 2015, revenue from the Theme Parks segment increased 22.9% to $2.3 billion compared to $1.9 billion in 2014. Operating cash flow increased 31.8% to $1.1 billion compared to $816 million in the first nine months of 2014.
There are few factors that have contributed to the increase and Comcast mentioned Fast and Furious: Supercharged at their Hollywood park as an example which will also be making its way to Florida in 2017.
However the major factor has been the continued success of Orlando’s The Wizarding World of Harry Potter™. The increase in guest spending has a lot to do with Harry Potter merchandise from Wizarding Robes and Interactive Wands to Butterbeer and Chocolate Frogs. The Harry Potter IP has been an absolute cash cow for Universal and this is why I believe Universal will continue to expand the Wizarding World… Money talks.
If you’re interested in what Universal might do next read this.
Smiles included…
Jamie
