Disney and Universal could not be approaching their growth in a more different way. On one hand, you have Disney's multi-year plan emphasizing a maximization of existing assets. They hope to entice the people who aren't visiting to make the journey to a Disney resort. This approach means Disney is eschewing the flashy theme park launches for tried and true expansion. For the time being, there will be no Disneyland Mumbai, Disneyland Qingdao, or Disneyland São Paulo. We also know that no projects like Aulani are in the works either. Expansion will be at their six existing theme park resorts.
Oh, and of course, Disney has their cruise ships. They are going to be a method for Disney to reach new markets without the fixed theme park investment. A cruise ship provides more flexibility than an immovable theme park ever could. New Disney Cruise Line sailings are the extent of Disney entering new markets for now. Otherwise, Disney fans will need to buy tickets for flights to Orlando, Anaheim, Hong Kong, Tokyo, Paris, or Shanghai.
By contrast, Universal's strategy is taking them in the opposite direction. We have Universal entering at least three new markets imminently. The UK, Las Vegas, and Texas will all have Universal attractions by 2031. These aren't individually massive investments like Epic Universe, but collectively they do present a sizable gamble on new theme parks and attractions.
Land constraints are one obvious reason Universal might have selected this strategy. Both Universal Hollywood and Universal Japan are landlocked with limited expansion opportunity (I know they're doing all they can to creatively use their land, but there's only so much that can be done). Universal Singapore is both land constrained and a franchisee. Investment in Universal Beijing is complicated by the structure of their partnership arrangement. Comcast can't unilaterally move forward with a project in Beijing. I'm sure the partners are working on some deal to expand their Chinese outpost. Even then, Comcast only owns a third of that property. They aren't going to need to mobilize vast sums of money for Beijing until a new park is launched years down the road.
The one existing property where they could make big moves is Universal Orlando Resort. Of course, that resort has just undergone one of its largest expansions since its inception. Universal is probably going to wait and see how the market reacts to Epic Universe before launching huge new projects.
Comcast/Universal is in a bind.
Michael Eisner's tenure saw Disney launch Euro Disney with vast amounts of space for expansion. Even the humble Hong Kong Disneyland Resort is designed to host up to three theme parks and thousands of hotel rooms. Disney's Shanghai partners wanted their version of Disneyland to be world class. That means something that is akin to Walt Disney World with thousands of hotel rooms and multiple theme parks. Both Walt Disney World and Disneyland Resort have many ways to expand or improve their existing parks. Disney has an embarrassment of riches when it comes to land they can develop or redevelop.
Universal Studios has grown rapidly throughout the 2010s and early 2020s. Maintaining that growth is not easy when two of the big growth drivers are nearly maxed out. So, what's Universal Parks and Resorts to do? The answer they've arrived at is to expand into new markets and geographies.
The Universal Kids and haunted house attractions are nontraditional. If they're successful, they could be replicated around the world. Universal Kids seems like it's trying to replicate Legoland New York or Legoland California. They're creating a regional project between their big parks and Six Flags. The park consists of mostly flat rides and simple coasters dressed up in vibrant environments. This must be viable business model or else Legoland wouldn't be open. If this park is successful, I'd expect more of these parks to proliferate. Worst comes to worst this park bombs or fails to make expected returns and it continues on as an oddity like Aulani is to Disney. The haunted house attraction can also be replicated (New York, San Francisco, Chicago, Paris, London, etc.). If it bombs or underperforms it can easily be shuttered in a few years. Closing that attraction would be a small write off for a company like Comcast. Its closure will make an interesting blog post on a theme park fan site like Disney Quest or Club Disney do. "Did you know that Universal once had an attraction in Las Vegas?!?!" Balancing the cost of live actors while keeping admission prices reasonable will remain a constant challenge. Still, it might work.
Then, of course, there is Universal Studios Great Britain. This resort is markedly different from their other two developments. This is a resort that seems posed to start more regional, but has the potential to scale and become a multi-day experience. While the initial announcement of a theme park with four lands and 500 room hotel might seem conservative, this resort has plenty of runway. By my imprecise mapping, this park can scale up to about the size of Islands of Adventure or Universal Studios Florida. Admittedly, my estimates are pretty rough. I'm using the following guide to approximate things:
The proposed park area is labelled "TP/TP-S." This master plan might not be their finalized approach, but it gives us a clear idea of what their overall vision is. The initial park is going to start as a more conservative build than something like Epic Universe, but this is them planting the flag in the UK and the continent more broadly and saying "we're here." I'm intrigued by the "mixed use" land to the north of the property. Universal gives us some idea about it in their materials:
"We are also considering other mixed use development at the site that would be complementary to the theme park and resort, but could also be used by other parties, such as conference facilities, exhibition spaces, sport experiences, employment uses, and associated uses."
Universal hotels could easily fit into this mixed use area with a conference center and other amenities. Universal might go the Euro-Disney route and develop it as a non-entertainment project. Of course, random real estate developments in Bedford UK are not really Universal Parks and Resorts' comparative advantage. Making this a hospitality-focused area seems more likely.
Then we have land technically outside the project that seems suspiciously available. I'm referring to the land north and south of the "West Gateway Zone." I might end up making a fool of myself because I know nothing about the facts on the ground, but if those plots are available for development... That's a ton of land. There's enough there to build another park or even two. Regardless, Universal has plenty of opportunity for growth within the project's existing confines.
To give perspective, Universal/Comcast is likely going to invest more into Universal Studios Great Britain than they invested in Universal Studios Beijing before opening. They provided just 30% of the capital for Universal Beijing's $6.5 billion price. So, ~$2.2 billion in invested capital. Universal Studios Great Britain has already been described as a "multi-billion pound investment." That means at least 2 billion GBP (~$2.6 billion) will be invested into this resort. I'd say this is pretty much guaranteed to be the single largest investment Comcast has ever made in a foreign theme park (with the exception of Comcast acquiring the remaining interest in Universal Studios Japan). It should also be among their largest single investments in a theme park to date.
Universal has decided to move forward without a partner in this project. That means the scope is reduced compared to gargantuan projects like Shanghai Disney Resort or Universal Beijing. However, that ownership affords them greater control over their property and allows them to reap the rewards (or failures) more fully.
I do have a nagging worry about their attendance projections. 8.5 million guests in the first year is close to the numbers that Shanghai Disney Resort posted in its opening year. Shanghai Disney Resort cost the Walt Disney Company and Shanghai Shendi ~$7.3 billion in 2025 dollars after inflation adjustment. It should also be noted the price of labor and many goods in 2016 China was much less expensive than in 2025 Britain. We know Universal Studios Great Britain is explicitly being designed to be more affordable than Epic Universe. To approach Shanghai Disney attendance numbers without commensurate spending indicates that you're either much more efficient with money or Disney and Shendi massively overspent on Shanghai Disney. I'm a little worried that they're setting themselves up for failure here. What if Universal Studios Great Britain posts 6 million attendance in the first year? Do they panic? Do they stop investing?
Still, Europe is a natural market for Universal to expand into. With opportunities to grow in California and Japan dwindling, Universal Studios Great Britain opens a new runway. I'm only wondering why they haven't partnered with Royal Caribbean or Carnival to launch Universal Studios Cruise Lines. The possibilities for a minions cruise ship seem like a natural extension of the Universal Studios brand. As bad is a minions cruise ship sounds to me, it still wouldn't be as unattractive a vessel as the Disney Adventure...
