In what can only be described as a monumental week for Comcast and the overarching media industry, the anticipation surrounding the opening of Epic Universe is palpable. Taking place in Orlando, Florida, this highly anticipated event marks the launch of the first major theme park in the United States in over two decades, a project that has sparked excitement and drawn crowds hoping to experience its wonders firsthand. The park is officially set to open on Thursday, and fans are already camping out overnight to secure their chance to be among the first to explore its attractions.
Epic Universe, developed by Comcast’s NBCUniversal, represents a significant financial commitment, with an estimated construction cost of approximately $7.7 billion and more than six years of development. According to company executives, Epic Universe is poised to be the “most technologically advanced theme park” ever created, showcasing innovation and operational excellence. Mark Woodbury, the chair of Universal Destinations & Experiences, underlined this sentiment, highlighting the park as a testament to the creativity and talent of the teams involved in its development.
This week transcends beyond the excitement of roller coasters and thrilling rides; it encapsulates a broader trend within the media landscape that analysts refer to as “the experience economy.” As Rich Greenfield from Lightshed Partners observes, today’s consumers seek immersive experiences that allow them to engage with beloved characters, franchises, and stories. This growing demand for live, communal experiences has driven media giants to innovate and expand their physical offerings, all as a response to consumer appetite.
Disney, which has long held the title of theme park leader, is not one to stand idly by in the face of this competition. Recently, it announced plans for a new park and resort in Abu Dhabi while also expanding its fleet of cruise ships. Meanwhile, Universal is also eyeing growth, with plans for a future theme park in the United Kingdom set to open in 2031, in addition to several smaller projects such as a horror-themed attraction in Las Vegas and a kids’ resort in Frisco, Texas. The competition is fierce, and companies that once battled in the streaming arena are now riveted in a parallel struggle known as the “theme park wars.”
Universal’s existing theme parks in Orlando have often been perceived as secondary offerings for tourists who tend to allocate more time to Disney’s four parks. However, with the unveiling of Epic Universe, it is anticipated that this dynamic may shift. Woodbury believes that the new park will transform Universal Orlando Resort into a full-week vacation destination, offering “mind-blowing experiences” that appeal to global audiences and may redefine the competitive landscape.
Historically, other non-Disney parks opening in Florida have yielded positive effects on Disney’s bookings, as noted by Disney CFO Hugh Johnston last year. Nevertheless, the launch of Epic Universe may provoke a different outcome, as it positions Universal as a more prominent destination rather than merely an add-on to Disney’s offerings. Analysts suggest that this new venture marks the first step in enhancing Universal’s profile and attracting visitors eager to immerse in its expansive experiences.
The grand opening of Epic Universe even attracted the attention of NBC’s “Today” show, broadcasting all four hours live from the park. This was not just an event for park-goers; it was a significant corporate moment, with Comcast’s top executives gathered to celebrate the historic launch. The park features a range of attractions, including a “How to Train Your Dragon” area and partnerships with iconic franchises like Harry Potter, which continues to draw crowds through experiences crafted with high-resolution projections and augmented reality technologies.
Both Universal and Disney have increasingly relied on their theme parks to generate revenue, particularly during challenging times within the media industry. As Comcast President Mike Cavanagh pointed out, the theme park segment is uniquely insulated from the broader trends affecting screen time distribution in media consumption. In essence, theme parks serve as tangible experiences where beloved on-screen characters come to life, providing an antidote to the prevalence of digital entertainment. In this intricate dance between emerging consumer preferences and corporate strategy, the spotlight now shines brightly on Epic Universe as it embarks on its journey in the competitive realm of theme parks.