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TECHNOLOGY Tuesday 2 May 2017

Theme parks: Comcast’s under-the-radar growth driver

TALI ARBEL
AP Technology Writer
NEW YORK (AP) — One of
Comcast’s fastest-growing
businesses hasn’t been
selling cable or internet
subscriptions — or mak-
ing movies and TV shows,
or selling TV ads. It’s been
theme parks.
Since 2011, when Com-
cast first took over NBCU-
niversal’s film and TV stu-
dios, cable and broadcast
networks, TV stations and
theme parks, the parks
have been one of its big-
gest revenue drivers. It was,
of course, a smaller busi-
ness to begin with, leaving
more room for growth, but
that isn’t the whole expla-
nation.
Cable subscriptions
dropped for a decade be-
fore growth resumed last
year (although cable rev-
enue still inexorably ticked
higher). TV advertising
faces a threat from digi-
tal giants Facebook and In this Aug. 23, 2016 file photo, the entrance to Universal Studios is shown in Universal City, Calif.
Google, who can target Associated Press
ads precisely to users. Films
are an up-and-down busi- had opened a Harry Potter film unit and broadcast TV Comcast’s net income rose long been in the works with
ness. attraction in 2010, before — NBC and Telemundo — 20 percent to $2.57 billion, Chinese state-owned com-
And the company is bullish Comcast took control, and last year. or 53 cents per share, in panies. “We’ve used this
on the parks. “We’re ex- it was a smashing success. In the first quarter, parks the most recent quarter; to be a global platform for
pecting a big year,” said Since then Comcast has revenue grew 9 percent revenue grew 9 percent to us,” Roberts has said.
Comcast CEO Brian Rob- spent billions of dollars re- to $1.12 billion, and a key $20.46 billion. THE MOUSE
erts at an investor confer- furbishing and expanding profit measure rose 6 per- To reach international mar- You can’t talk about theme
ence in February. It con- its park empire, moving into cent to $397 million. Harry kets, however, Comcast parks, of course, without
tinues to spend on them. Asia and adding rides and Potter attendance kept ris- relies on NBCUniversal. Uni- mentioning Disney, which
NBCUniversal’s capital ex- attractions to its California ing in Orlando, and visitors versal’s big-budget mov- is busily upgrading its parks
penditures will rise 10 per- and Florida destinations. to the parks overall spent ies do well overseas — the to compete for consumers’
cent this year to about $1.6 That included a second more. eighth “The Fast and the dollars.
billion, largely because of Harry Potter area in Florida Furious” movie is expected In Asia, there are already
parks investment. and a Wizarding World of “A GLOBAL PLATFORM” to cross $1 billion in global Disney-brand parks in To-
Harry Potter opened last Comcast, the biggest U.S. box office this week; film kyo, Shanghai and Hong
SURPRISE RESURRECTION April in California. This lat- cable company, is do- revenue soared 43 percent Kong. And Disney also has
The Universal parks in Orlan- est witches-and-wizards at- ing quite well stateside. It to $1.98 billion during the iconic destinations in Cali-
do, Florida, and Hollywood, traction “shattered atten- added video and inter- January-March period. fornia and Florida.
California, were “probably dance records,” the com- net customers in the Jan- The theme parks also pro- Attractions based on Mar-
the last thing on our list” in pany said in January. Harry uary-March quarter and vide Comcast with interna- vel Comics superheroes
acquiring NBCUniversal, the Potter is also in the Osaka, will launch a wireless ser- tional customers. Comcast and the James Cameron
entertainment conglomer- Japan, park, of which vice for its customers soon. is spending $2.3 billion to blockbuster film “Avatar”
ate’s head, Steve Burke, Comcast bought a stake in It stands to benefit from take full control of Univer- are opening in May in Cali-
recounted at a September 2015. a deregulatory attitude sal Studios in Japan. There’s fornia and Florida parks,
2011 investor conference. Parks revenue has grown in Washington, including also a Universal attraction respectively. And Star Wars
Disney was then the reign- roughly 150 percent from the likely upending of net in Singapore that Comcast attractions at the Califor-
ing king of theme parks. But 2011 to 2016, and it contrib- neutrality rules detested doesn’t own, and it has a nia and Florida parks are
the Florida Universal park uted more profit than the by broadband providers. Beijing theme park that’s pegged for 2019.q