Walt Disney World and Universal Orlando Resort compete for many of the same vacationers, but their latest attendance updates make it sound like they're operating in two very different Orlando markets.
Executives from Disney and Comcast recently addressed attendance during the Goldman Sachs Communacopia + Technology Conference. Disney came away with encouraging numbers. Universal, meanwhile, continues to see softness in Orlando.
The contrast is particularly interesting because Epic Universe opened just over a year ago, dramatically expanding Universal Orlando Resort.
Disney World beats expectations
Disney reported that attendance across Walt Disney World and Disneyland increased 3% over the summer. The company had apparently prepared for a more challenging situation in Florida.
Disney Chief Financial Officer Hugh Johnston said expectations heading into the quarter didn't match what ultimately happened.
“There was a belief going into Q3 earnings that, in fact, we were going to be challenged in Orlando,” Johnston said. “And in fact, the numbers were quite the opposite. They were rather strong. And that’s a lot about our (intellectual property).”
Disney continues investing in its theme parks while expanding Disney Cruise Line. Demand for cruises has also been significant.
“We can’t fill all the demand that we have right now,” Johnston said.
Those comments paint an encouraging picture for Disney's Experiences business.
Universal's update sounds noticeably different.
Universal Orlando continues seeing softness
Comcast previously disclosed that Universal Orlando attendance declined during the second quarter. Comcast Chief Financial Officer Jason Armstrong says the trend that started in June hasn't meaningfully changed.
“What we started to see in June was softness in Orlando,” Armstrong said.
He added that Universal is “continuing to see softness in that market,” pointing to factors including gas prices and airfare.
That doesn't mean Comcast suddenly regrets spending billions to build Epic Universe.
Armstrong said the new park “sort of lifted all of Orlando” after opening in May 2025. Asked whether Comcast still considers Epic Universe the right investment, Armstrong offered a clear answer.
“The answer is absolutely yes.”
He also provided some important context about Universal's current position.
“In the Orlando market versus two years ago, we are up materially in every metric,” Armstrong said. “So that’s attendance, that’s per caps, an overall financial performance, and we’re rating really well in guest satisfaction.”
The Orlando battle isn't over
Those comments make Universal's situation more complicated than simply saying attendance is down.
Epic Universe helped expand the resort, and Comcast says its Orlando business remains materially stronger than two years ago. However, Universal is also dealing with softer conditions right now.
Disney is telling almost the opposite story.
Its executives expected challenges in Orlando, only for attendance to come in stronger than anticipated.
For theme park fans, it's an intriguing development. Universal just completed one of the biggest expansions in Orlando history, while Disney is preparing major additions of its own.
The long-term competition remains far from settled.
For now, though, Disney and Universal appear to be heading in two very different directions.
