While streaming wars have dominated entertainment rivalries, Comcast is challenging Disney on a physical front with the opening of Epic Universe last week.
This $7 billion, 750-acre theme park, Comcast’s largest ever, features five “worlds” inspired by franchises like Nintendo and How to Train Your Dragon, marking its biggest development since the Wizarding World of Harry Potter 15 years ago.
Disney, meanwhile, is also expanding, recently announcing a royalty agreement for a massive new park in Abu Dhabi, part of its $60 billion, decade-long investment in its parks division. Both companies are banking on consumers spending heavily on tickets and merchandise, like $35 popcorn buckets, despite recession concerns.
Theme parks remain lucrative—Disney’s experiences division, encompassing parks, resorts, and merchandise, generated ~$9 billion, or 59% of its total profit last year.
Parks offer stability compared to the volatile TV, film, and streaming sectors, as they’re “not exposed to shifts in screen time,” said Comcast President Mike Cavanagh.
However, Comcast faces an uphill battle: Disney dominated with eight of the top 10 most-visited theme parks globally in 2023, per the Themed Entertainment Association.
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