Comcast just announced ThemePark earnings up 18.7% for 3rd quarter due to strength of Harry Potter.:happy:
3rd Quarter Earnings
- Thread starter agentj
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Thanks for the prompt. I just read the earnings report and it looks like the Diagon Alley doomsayers were way off base. The 2014 third quarter revenue percentage increase, which includes all USA Universal theme parks, was 18.7%, an increase to 786 million from last year's strong third quarter results of 661 million. So, I would conjecture, the Orlando parks' increase was probably even above that high percentage increase of 18.7%. Last year's (2013 third quarter)strong results were primarily driven by Transformers & Springfield in Universal Studios. So there have been very significant percentile increases in the past 12 months at Universal Orlando, a feat that becomes more difficult as the attendance increases to the present level. Great news for Universal/Comcast. This should keep the expansion machine humming. And the high 2014 HHN attendance, along with Diagon, will probably produce a strong fourth quarter result.
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Whoa whoa whoa . . . weren't they slashing jobs and hours because of Diagon under performing? :rofl:
Yes, those guys look pretty bad right now. Just like they said the year before (word for word comments) that Transformers was disappointing. Methinks they had some pretty bad sources or were being purposely fed bad info. Or they were making stuff up.
I dont know if slashing is the right word, but in my experience there over the summer, this was true to some extent. Diagon definitely did well but it was at the expense of some of the other areas in the park. In the exact words of my supervisor "it's not a flop by any means but it wasn't as crazy successful as they thought it would be."
Anyway, this is pretty neat...Im not a shareholder at Universal or anything but it's great that their expansions are paying off, and that gives them no reason to slow down in the future.
- Jan 28, 2013
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:wave:
To my knowledge, USJ numbers are not included in the total. Also, two others facts were mentioned during this mornings "call"
"there was a significant lift in park to park ticket sales" and
"Guest satisfactions ratings were well over 90%"
In addition, Free Cash flow increased over 26% (more money for "cap. Ex") all good!!
To my knowledge, USJ numbers are not included in the total. Also, two others facts were mentioned during this mornings "call"
"there was a significant lift in park to park ticket sales" and
"Guest satisfactions ratings were well over 90%"
In addition, Free Cash flow increased over 26% (more money for "cap. Ex") all good!!
I'm pretty sure they aren't. Unless I have the relationship misunderstood, USJ and USS are more or less franchises. They pay Universal liscensing, but little else contributes to the bottom line, much like how you never seen TDR mentioned in Disney reports.
Thats also how I understand it. Similar to how Tokyo Disney is operated by Oriental Land Company, Universal in Japan is managed and operated by a company based in Japan, like you said, similar to a franchise. Im not sure what effect this has on Comcast's Theme Park earnings report but I would not be surprised if they didnt include USJ since it isnt run by Comcast.
- Apr 7, 2010
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not surprised. Glad to see the bets paid off...though the odds were definitely in their favor. I do think it's still "less impactful" then original opening, but that's to be expected. Potter Phase 1 basically changed how theme parks will do business and create attractions for some time to come.
People see less crowds in Diagon because it has less capacity = Diagon must be under performing
Hours cut for employees due to over preparation = Universal loosing moneyz!!11
Gringott's slow opening = Diagon Alley a flop
seems all the hooplah was merely just people's assumptions being passed around the internet...The internet, because what people say is automatically true as long as it is posted online..
- Jan 28, 2013
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Well, USJ contributes to the Universal Parks and Resorts' bottom line via a sliding scale of licensing fees which may be attendance-based (according to my SEC report). The only people that really know how much are Universal’s finance people. But yes, it’s safe to assume that the lion’s share is absolutely Orlando.
USJ has been suffering over the last decade so they were probably at a minimum. Potter may have changed that a bit. The Forbes article that I read didn't mention anything outside of the US yet banged the drum on Diagon being a major contributor.
Exactly what I was thinking. What probably got cut were things that were over estimated in the first place. They knew they wanted to avoid the craziness of Phase 1 and wanted to be prepared.
Do any one of you know how the Loews hotels work financially for Universal? Who makes what from what? Is Loews a hired custodian or do they pay a royalty. As it is Universal's property and construction, I would assume it is the former.
Completely wild guess, but I would imagine that the Universal hotels are just high-profile Loew's franchises...Loew's provides the business acumen while Universal does the creative/construction stuff. They pay Loew's the fee for licensing their business model, and Universal keeps the rest. Again, just a complete guess, bearing in mind that Universal isnt in the hotel business like Disney is.
- Mar 16, 2010
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Don't know if this helps but most of the Cabana Bay management staff was brought it from various Loews Hotels across the country.
