The Wall Street Journal highlighted the growing rivalry between Disney and Universal in Florida, where the latter company is expanding its presence with the opening of the Epic Universe theme park. This new park, with iconic characters such as Harry Potter, Mario Bros or Donkey Kong, represents a direct threat to Disney World, located less than 20 kilometers away.
Universal is seeking to persuade families to spend more time at its parks rather than Disney, which could result in significant revenue losses for the mouse company.
Universal’s strategy is supported by its success at the box office and its quick response during the pandemic, the WSJ reported. Comcast, Universal’s parent company, has invested in new attractions and maintained an aggressive approach to expanding its parks.
On the other hand, Disney has been offering new attractions like Star Wars: Galaxy’s Edge, but hasn’t opened a major expansion in Florida in five years, which has led some fans to express frustration over rising ticket prices.
Although Disney announced plans to invest $60 billion in the parks and cruises division over the next decade, it has not specified how much will go to local parks, according to the article.
Theme parks have become a crucial part of Disney’s business, outpacing divisions such as television networks in profits.. However, Universal has been gaining ground, with its parks division generating $8.95 billion in revenue last year, compared to Disney’s $32.5 billion.
This competition could have a significant impact on the revenue and long-term growth strategy of both companies in the theme park market in Florida. Universal has capitalized on the success of franchises like “Despicable Me” and “How to Train Your Dragon” to attract visitors to its parks.
Its focus on immersive storytelling has been well received by guests, leading the company to invest in the construction of a new park, reported the WSJ. Meanwhile, Disney has been working on new attractions, but its focus on increasing ticket prices has led some fans to look to Universal for alternatives.
The rivalry between Disney and Universal isn’t just limited to theme parks, as both companies compete for consumers’ attention in a variety of areas, including movies and streaming. Furthermore, the WSJ article suggests that the competition comes at a time when Universal is seeking to expand its presence in Florida, while the mouse company faces challenging rivalries among its senior management and seeks to revitalize its film studios.
2024-04-13 15:13:30
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