Overview
- Comcast reported that its Theme Parks segment posted Q3 revenue down about 4.4% and Adjusted EBITDA down 17.1% to $780 million following the quarter that ended September 30.
- Executives told investors on the Oct. 22 earnings call that lower park admissions driven by increased promotional activity and faster competitor marketing responses were major causes of the revenue drop.
- Management acknowledged that Epic Universe is experiencing ride-capacity, throughput and attraction-reliability issues that have limited guest flow and delayed full pass-holder inclusion.
- Comcast is responding with new commercial leadership hires, teased three-park promotional products, higher media spend and technical and staffing work at Epic to improve load times and uptime.
- The company expects softness to continue into early 2027 but projects a return to growth in the second half of 2027 and says details on Epic-inclusive annual-pass products are still being developed.