Comcast Chairman Mike Cavanagh is looking forward to what happens for the Universal parks. Furthermore, he said he was satisfied with the performance of the parks in the third quarter.
The parks again achieved a record level of earnings before interest, taxes, depreciation and amortization, with EBITDA up 20% to $983 million at the end of record results in the second quarter. Theme park revenue increased 17.2% to $2.4 billion.
“With the momentum in our third quarter results and what we have in the pipeline, I couldn’t be more excited about our parks business,” Cavanagh said on a call with investors Thursday.
He highlighted some recent and upcoming projects. Cavanagh said the response to Super Nintendo World at Universal Studios Hollywood and Universal Studios Japan “continues to be fantastic.” Universal will bring Nintendo home to Florida when Epic Universe opens in 2025.
Last week, Cavanagh traveled to Orlando and met with theme park executives. He reviewed Universal’s plans for a permanent horror-themed experience in Las Vegas and a children’s theme park in Texas.
He also took part in an Epic Universe tour, which he called “simply breathtaking.”
This build was a key driver of a 44% increase in capital spending for its Content and Experiences business unit, which totaled $884 million in the quarter.