Both companies’ parks are bringing in lots of visitors and revenue, which offsets the losses of their streaming services.
With the most visitors and revenue in the industry, Disney’s theme parks are giving the company an even bigger financial edge over Disney’s Hollywood competition. Disney reported operating income of $2.2 billion from its theme park resorts and cruise line in the most recent quarter, while NBCUniversal owner Comcast reported $782 million in adjusted earnings for its Universal Parks & Resorts segment during the same period.
That money helped cover some of the losses that both companies incurred launching their Disney+ and Peacock streaming services, respectively. The two companies also share ownership of Hulu. Meanwhile, Warner Bros. Discovery and Paramount continued to struggle under the expenses of their HBO Max and Paramount+ streaming services. While both companies license their brands for attractions to other operators, neither owns and runs their own theme parks like Disney and Universal do. Paramount once was in the business but sold its parks to Knott’s Berry Farm owner Cedar Fair years ago. Warner Bros.
Theme parks are giving Disney and NBCUniversal a billion-dollar head start in the race to capture the online entertainment streaming market. But is that fair?
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