Disney CFO Comments on Universal Epic Universe & Forecasted Impact on Walt Disney World

Disney CFO Hugh Johnston participated in a question-and-answer session at the UBS Global Media and Communications Conference today and he covered a variety of questions about Disney’s various lines of business, including the Experiences division, which includes theme parks and cruises. Here’s a recap of his comments, including a question about Universal Epic Universe.

Consumer is Doing Okay

Over the summer of 2024, there was some chatter about consumer demand starting to softly slump in the second half of the year and into 2025. Johnston acknowledged Summer 2024 attendance as a “hiccup”, but said that the consumer is starting to look like they’re “doing fine”.

Universal Epic Universe

Johnston was also asked about Universal Epic Universe and its forecasted impact on Walt Disney World. Interestingly, before he was directly asked about Epic Universe, he slid in a little shot at Universal when asked about the health of the Experiences division.

Johnston called the Disney theme parks an “asset of one” and said that the Disney theme parks “have any material competition”. Johnston did note that there are other theme parks, including calling out Universal by name, but said that Disney theme parks are essentially in a league of their own.

Going back to the direct question about Epic Universe and its impact on Walt Disney World, Johnston continued some of the communications that we’ve seen from Burbank before. Mostly, the comments echoed a “rising tide lifts all boats” approach, with Johnston saying that history says that there is higher attendance in Orlando as a whole whenever something new launches.

Johnston said that Disney has built some “cautious and conservative” guidance into its forecasting for next year. Interestingly, he said that he can see a situation where Universal certainly gains on market share, but Disney benefits from “category growth”, which I understood to mean that Disney may see some families visiting the Walt Disney World theme parks that may otherwise not visit as a tag on to their Universal trip.

That said, Johnston did say that Disney has “some negative” built in for next year. Johnston ended his comments by returning to something that he mentioned on the previous earnings call, and that is that bookings are looking good for next year and next summer at Walt Disney World. In fact, he said that early bookings are up year over year.

Comments from Disney leadership have been rather consistent and expected. Previously, Disney CEO Bob Iger has said that Epic Universe isn’t a concern for Disney. Other statements from Disney position Epic Universe as Universal “playing catch-up on a decade of nonstop development at Walt Disney World”.

As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!

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