Theme park reviewer Jessica Brambilla of Sarasota discusses faltering theme park revenue due to the 2020 coronavirus pandemic.
Theme park revenue has plummeted due to the coronavirus pandemic, and experts are wondering if and when the industry will be revived. Theme park reviewer Jessica Brambilla of Sarasota recently cited an article published by the Orlando Sentinel stating that Universal Orlando’s revenue dropped 94 percent in the second quarter of 2020. Jessica Brambilla of Sarasota recently discussed the faltering revenue amidst the shutdowns and what the industry is doing to stay afloat during difficult financial times.
“Many people are criticizing theme parks for reopening during the pandemic,” Jessica Brambilla of Sarasota said. “But executives are noting that reopening with minimal revenue is superior to remaining closed.”
Jessica Brambilla of Sarasota stated that Universal’s theme parks in Japan and Orlando opened in early June, toward the tail end of the year’s second quarter. They noted that this was in fact a superior financial option to remaining closed for the remainder of the quarter or even the remainder of the busy summer season. Jessica Brambilla of Sarasota added that the operational challenges associated with theme parks have been enormous during this pandemic. Parks continue to have minimal crowds because of Universal’s new, more restrictive safety guidelines, and not everyone feels comfortable venturing to theme parks quite yet.
“Fortunately, parks are receiving rave reviews from customers following the reopening,” Jessica Brambilla of Sarasota said. “In fact, positive feedback from visitors is coming in at record levels.”
Jessica Brambilla of Sarasota explained that these positive reviews are a good sign for an industry that is expected to have a difficult time bouncing back. Universal has already paused work on the new Epic Universe park, which is expected to be one of the major theme park expansions of the decade. Universal executives state the opening of Epic Universe will be pushed back at least one year.
“We’ve been hit really hard in the theme park industry, but we remain positive” Jessica Brambilla of Sarasota said. “This is a resilient industry, and with major park expansions coming in the next few years, we can expect the industry to return to normal or even higher revenue levels.”
Industry experts, like Jessica Brambilla of Sarasota, remain confident that the industry will navigate the pandemic and come back even stronger when the COVID-19 pandemic is a distant memory. Jessica Brambilla of Sarasota added that Universal Orlando reopened on June 5, 2020, while Walt Disney World opened roughly one month later. Many parks around the country remain closed. Walt Disney Co., is expected to release its earnings since reopening in the coming days.
“We hope all parks will continue to operate with appropriate safety regulations to keep visitors safe and to continue receiving those positive reviews,” Jessica Brambilla of Sarasota said. “The sooner visitors feel safe returning to parks, the sooner the industry will get back on its feet.”