Universal Theme Parks Revenue Down for Q1 2021

Comcast has reported its first-quarter 2021 results. The company’s overall revenue was up 2.2% from Q1 2020. NBCUniversal theme parks reached breakeven for the second consecutive quarter, excluding pre-opening costs of Universal Beijing Resort.

Theme park revenue decreased 33.1% to $619 million in Q1 2021, compared to $925 million in Q1 2020. This was mainly due to limited capacity at Universal Orlando Resort and Universal Studios Japan, as well as Universal Studios Hollywood remaining closed until April 16. The adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) loss for theme parks was $61 million, which includes the pre-opening costs for Universal Beijing Resort.

Universal Beijing Resort will be opening later this year.

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