Universal Parks & Resorts Suffers 94% Loss in Revenue Due to COVID-19 Pandemic
Universal Parks & Resorts has revealed just how powerful the economic impact of the COVID-19 pandemic has been.
According to Spectrum News 13‘s Ashley Carter, Comcast, Universal’s parent company, reported that Parks & Resorts experienced a 94% loss in revenue during the second quarter of 2020. Altogether, the theme parks earned $87 million, a massive decrease from the $1.46 billion that they earned during the same period in 2019.
This is the first quarterly report to include the period where all Universal theme parks worldwide were shut down due to the pandemic, though it also includes Universal Orlando and Universal Studios Japan’s re-openings before the quarter ended in June. Both resorts, along with Universal Studios Singapore, have since reopened their theme parks with enhanced safety measures. Universal Studios Hollywood remains closed for now.