Earlier this week Universal parks parent Comcast reported via their financial results that their theme parks business segment saw a 94.1% drop in revenue to $87 million from $1.46 billion reported in the year-earlier period, which, though a staggering drop, is hardly unexpected given the COVID-19 related closures from earlier this year. And though Universal Orlando Resort has reopened and is operating at limited capacities, revenue has not rebounded as attendance has been very soft over the past few weeks.
However, the parks still are “doing better financially than closed,” according to a Comcast executive during a conference call discussing financial results, adding that though attendance has been sparse, guest satisfaction is very high.
Unfortunately, even though it is good news that the guests that are visiting the theme parks are enjoying themselves, it looks like with crowds likely to remain low through the rest of the year (and no Halloween Horror Nights event to boost the fall), Universal has had to make some tough decisions recently, delaying Universal’s Epic Universe indefinitely, and laying off staff. And unfortunately, that is not where the cuts stop.
Several attractions inside Universal Parks will be going dark starting next week
Beginning August 9, the following attractions will not be operating until further notice:
- A Day in the Park with Barney
- Fear Factor Live
- Fast & Furious: Supercharged
- Kang & Kodos Twirl n Hurl
- Poseidon’s Fury
- Storm Force Accelatron
Though Fear Factor Live did not reopen with the parks back in June, the rest of these attractions have been operating daily with social distancing modifications. However, it looks like these attractions simply are not getting enough foot traffic to remain open, and Universal is making the tough decision to keep them closed for the foreseeable future until traffic picks back up again, which may not be for several months, or even longer.
Universal cuts workforce
Unfortunately, in an effort to further trim the budget, Universal has also laid off a substantial portion of its workforce, effective this week. In a statement posted on social media Universal said:
“We have again made the difficult decision to reduce our workforce to reflect current priorities and needs. As always, we are aware of the impact this will have on those affected by this decision and their families. We are grateful for their contribution and we will support them through this process with severance pay, subsidized health benefits and reemployment assistance. We continue to have confidence in the long term future of our business, our industry and our community.”
Unfortunately, there is no way to know when things will improve, not only for Universal Orlando Resort but for the larger theme park industry, including Disney, SeaWorld, Cedar Fair and more, which all find themselves making cuts where they can to stay alive in the current challenging climate.
As always, while this situation is evolving, all travelers should check out the CDC’s official site here, which has information on the virus and how to prevent its spread.
Theme Park Tourist COVID-19 Complete Coverage: Disney and Universal Making Cuts Likely Due to Low Attendance I The 21 Major Theme Park Projects Now Officially Cancelled, Delayed or Slimmed Down (July 31, 2020) I Disney Confirms New Mask Rules and Expands Temperature Screenings I Actors’ Equity Association Takes Dispute With Walt Disney World to the Next Level With Creepy Video I Alton Towers, Thorpe Park, Chessington World of Adventures and LEGOLAND Windsor Announce Updated COVID-19 Policies, Including Mandatory Face Masks I Halloween Horror Nights Officially Cancelled for 2020
