Universal is going after Disney, the industry leader, with new parks in Florida and Texas: “We want people to think of us first.”Universal is taking on Disney, the dominant player in the industry, by announcing plans for new theme parks in Florida and Texas. The goal? To become the top choice for visitors.
When Mark Woodbury took over as Universal’s theme park chief in 2022, he challenged his team to answer the question, “How high is up?” This was not a reference to a roller coaster, but rather a call to surpass Disney’s success.
Universal’s theme parks have already been a surprising source of growth for NBCUniversal, but Woodbury saw an opportunity to break away from Disney’s shadow. In a recent interview, he said, “How do we become the go-to destination in each market we operate in and expand into?”
Woodbury, 67, is now revealing his plans. This week, Universal announced themed areas for a new park in Texas aimed at families and an opening date for a horror attraction in Nevada. These additions join expansions in Los Angeles and a massive development in Orlando, Florida, set to open this spring. Universal is also considering “Wicked” attractions and a major park in Britain.
While Comcast, NBCUniversal’s parent company, has not disclosed budgets for these projects, analysts estimate that the Orlando development alone cost around $7 billion.
Theme parks come with their own set of risks, including economic fluctuations, safety concerns, and high maintenance costs. However, Comcast sees the potential for increased profits and is fully committed to the growth strategy. “I could not be prouder of the trajectory and growth strategy,” said Mike Cavanagh, Comcast’s president.
We are having trouble retrieving the article content.
Please enable JavaScript in your browser settings.
Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.
Thank you for your patience while we verify access.
Already a subscriber? Log in.
Want all of The Times? Subscribe.
Source:Read More