NBCUniversal parent Comcast reported lower numbers at its theme parks, which had vaunted to new heights post-Covid. Revenue fell nearly 10% and earnings dropped 24% for the second quarter ended in June, the conglom reported today.
Disney stock plunged in May after execs warned of flattening growth in parks due to “normalization” of demand post-Covid. “While consumers continue to travel in record numbers and we are still seeing healthy demand, we are seeing some evidence of a global moderation from peak post-Covid travel,” the company said then.
Disney, currently in the midst of a massive parks spending spree, reports its June quarter numbers next week. The tapering off makes sense.
Parks were among the earliest and biggest attractions to open to a nation smacked by Covid and saw record numbers in 2022 and 2023 at a time when no one was traveling very far.
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