Comcast Q2 2024 Earnings

[IzzyB]

Looking at this at a very macro level, I think we're also seeing a demonstration of the limits of positioning a theme park as luxury travel. As the wealth gap widens, these parks will no longer be able to rely on the dollars of the "working class" visitors (or at least those that perceive themselves as working class) that was a backbone of their customer base for years.

And I realize I'm a broken record on this, but the Universal Parks in the United States absolutely rely on international visitors — and they're not coming in the numbers they were before COVID. If you think the economy is broken here (and for many people, it absolutely is!), take a look over at Europe sometime. That, combined with a strong dollar, is absolutely hurting these domestic theme parks.

Yes, international travel INTO the US is down and travel of people in the US vacationing international appears to be up. Which when the US is way stronger than other countries this is going to happen. You really want the other countries to also have strong economies because it helps the US in so many areas. Both in goods they buy from the US, but also service industries like travel.

So then in theory.....Epic Universe is DOA? I mean many here think it has to do with the middle class and no way in one year things get magically better.

I think if you build something cool enough people will "sadly" go into to debt to come to it.

I don't think Epic is DOA. I think many people will go to Epic and I think MANY middle and upper middle along with Lower Upper visit theme parks. Saying ONLY working class goes is not accurate at all. While it is a chunk I know many many upper/middle or lower/upper that love going to theme parks.

Have they priced themselves out of working class? Potentially, but it won't mean Epic is DOA.

 

[UniversalRBLX]

So then in theory.....Epic Universe is DOA? I mean many here think it has to do with the middle class and no way in one year things get magically better.

I think if you build something cool enough people will "sadly" go into to debt to come to it.

Not at all what anybody is saying. Like Jake mentioned, there will be people (like most of us on here) that will find a way to visit Epic Universe even if your wallet stings a bit.

What could happen is that the pricing structure for Epic Universe may make it difficult to visit, and may not offer a great value. It's more than likely that Universal is taking recent economic developments and attendance indicators into account. 1-2 years ago they had reason to be bullish on attendance/pricing... now I'm sure that sentiment has changed a bit.

 

[Jerroddragon]

I don't think it's as simple as, "the United States has significant structural problems that are now squarely exerting themselves on people that consider themselves middle class, thereby Epic Universe is toast." Mainly because those significant structural problems have existed for quite a long time and, you know, here we are.

There's a lot of time between now and when Epic Universe opens. Lots of things can, and probably will, change between now and then.

I mean we can't get political but unless a miracle happens there is a low chance of people in the US or the World having more money then over now.

So then it becomes a questions of is it the price on off years the issue? Because if people come when you make something they want and its also worth traveling for then I think its just a different reality then hat we are talking about. If people come next year, it shows money wasn't the factor as much as the parks aren't giving consumers what they want.

 

[Jake S]

those two things are not remotely mutually exclusive.

 

[Mad Dog]

Next year will be interesting. Epic will probably do well. What will be in question though, is will it attract enough of those that don't live in Florida to significantly boost attendance at IOA, Studios and the WDW parks. That's going to be a very key stat to watch. WDW doesn't really have anything, except a possible new night parade, that's going to elevate tourism to Orlando.....Right now, both park systems have had to resort to huge pricing discounts in an attempt to spur attendance. Over supply & less demand issues are very evident. And Disney is having particular issues filling their Deluxe hotels. That's the domain of the higher middle class, that's not coming either. Past Vacation Club membership is the main thing keeping those hotels afloat.....Universal has one big advantage over Disney to attract blue collar families. Try finding an 'affordable' family suite in an onsite WDW hotel. Universal, in excellent foresight, built a ton of family suites in their hotel resorts, at very affordable 'value' prices. This fact should not be underestimated.

 

[Mad Dog]

double post...please delete...