When demand increases or supply goes down, prices go up.
That’s a sort of law that most businesses follow because it maximizes revenue. The challenge, of course, is to increase prices only as much as the market will bear without turning customers away.
When it comes to Florida theme parks, Comcast’s CMCSA Universal Studios can use its chief rival Disney World as a sort of measuring stick. Both companies essentially cater to the same audience so if one raises prices on french fries, popcorn, or soda and sales don’t fall, then the other can probably do the same.
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Since the covid pandemic, Walt Disney DIS has been balancing experience with pricing at its theme parks. That’s why the company has capped total attendance at its four Florida theme parks at lower levels then they were at before the pandemic.
Doing that creates a better experience for people who do buy tickets and it lowers the ticket supply, which allows the company to raise prices. That’s a balancing act Disney seems to have pulled off.
“Walt Disney World is still performing well above pre-COVID levels, 21% higher in revenue and 29% higher in operating income compared to fiscal 2019,” Disney CEO Bob Iger shared during the company’s third-quarter earnings call,
That came after Disney raised its prices for single-day tickets on Dec. 8, 2022. The company uses a pricing range for each theme park. That included only Animal Kingdom keeping its lowest price at $109, which was formerly the low price at all four parks. Now, Disney World and Hollywood studios tickets start at $124 while Epcot’s inched up to $114.
Universal has followed Disney’s lead and very quietly raised the prices of its single and two-day ticket offerings.
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Universal Studios’ two theme parks have generally been crowded.
Image source: Shutterstock
Universal Studios Florida raises ticket prices
Like Walt Disney, Comcast’s theme parks reported a strong most recent quarter.
“In Orlando, our results were also strong, with attendance relatively in line with 2019 pre-pandemic levels and revenue substantially ahead,” Comcast CFO Jason Armstrong shared during the company’s third-quarter earnings call.
That may have been what emboldened the theme park giant to follow Disney and raise single-day (and in this case two-day) theme park ticket prices at its Florida parks.
Scott Gustin, a popular X (formerly Twitter) media member who follows Disney and the theme park space in general first noticed the change.
“Universal Orlando increased the price of standard tickets sometime in the past few weeks. The starting price on a 1 Day 1 Park ticket increased from $109 to $119 – and the most expensive (holidays) jumped from $159 to $179 – an increase of 12.5%,” he shared.
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Now, a single-day, one-park Universal ticket has a price range of between $119 and $179 while a single-day, two-park ticket costs between $174 and $234. The two-day, one-park starts at $233 and goes all the way up to $339 while the range for a two-day, two-park ticket is $293-$409.
Those prices were confirmed on the Universal Studios Florida website.
Disney and Universal made big additions
Both Disney World and Universal Studios continue to expand their theme park offerings. Disney’s Magic Kingdom recently added “Tron: Lightcycle Run” while Epcot added the “Guardians of the Galaxy: Cosmic Rewind” roller coaster, a new ride based on the “Ratatouille” and a walk-through experience “Journey of Water, Inspired By Moana.”
Universal Studios has most recently turned its popular “Minions” franchise into a dedicated land. That included the addition of the “Villain-Con Minion Blast” ride, as well as a cafe to the existing “Despicable Me Minion Mayhem” ride.
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In addition, Universal is working on a revamp of its rides for younger visitors as well as the Epic Universe theme park, which will become the third “gate” on the property.
In Orlando, our results were also strong, with attendance relatively in line with 2019 pre-pandemic levels and revenue substantially ahead.
