On today’s earnings call, the very first question posed to Disney CEO Bob Iger and Disney CFO Hugh Johnston asked about Universal Epic Universe. As you may know, Universal’s third theme park, Epic Universe, is scheduled to open on May 22, 2025. The park will feature popular IP such as Harry Potter, Nintendo, Universal Classic Monsters, and How to Train Your Dragon. One of the unknowns is how much the new theme park will change the center of gravity in Central Florida. Johnston took the question and offered a little bit of insight into Disney’s expectations.
Disney Forecasts “Small Impact” on Business Due to Universal Epic Universe Opening
Interestingly, the analyst asking the question said that the impact of Epic Universe is the top question he gets, presumably from investors. In terms of Johnston’s comments, they don’t break new ground in terms of messaging. Perhaps it’s what wasn’t said that was more notable. Unlike in previous earnings calls, Johnston didn’t mention Epic Universe by name. Instead, Johnston simply said that Disney “anticipates some small impact”, but notes that Disney’s guidance of 6% to 8% income growth in the Experiences division includes that impact.
In a November 2024 earnings call, Johnston said that Disney’s modeling would suggest that Disney will benefit from the opening of Epic Universe:
Regarding Epic, we did model that into our expectations for the Experiences outlook. As mentioned earlier, the early bookings that we have next summer are actually positive, so that’s certainly a positive indicator. We also looked at the history of other attractions and other parks opening up in Florida, and it’s been beneficial for us. That is very much captured in the guide we provided.
Less than a month later, Johnston said that Disney had “some negative” built in for the opening of Epic Universe. While that comment was a departure from the rising tide lifts all ships sentiment from November, it’s exactly what Disney is forecasting today.
Johnston said that bookings still look strong for Summer 2025 at Walt Disney World, and that there has been no change in the previously offered guidance.
Comments from Disney leadership about Universal Epic Universe have been rather consistent and, to be honest, 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”.
In terms of our expectations for Universal Epic Universe, they’re high. A brand new theme park on the scale of Epic Universe for the first time in decades is no small feat in Central Florida. We’re excited for the opening as we have heard many of you are as well. To that end, we’ve expanded our theme park coverage into a category that we’re calling “Outside the Bubble“. Right now, that includes coverage of Universal Orlando like our recent coverage of the launch of the Universal Mardi Gras event.
Going forward, we’re going to be expanding our coverage of Epic Universe as we get closer to the launch of the theme park. That said, it won’t come at the expense of our continuing on-the-ground coverage of the Walt Disney World theme parks and the Disney Experiences division.
For more details on Universal Epic Universe, check out our Epic Universe page below with land-by-land information, concept art, and details. As the park begins previews, we’ll be providing on-the-ground coverage as well!
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!
