Universal to spend 3 billion on it's Hollywood Property

[lazyboy97o]

Did everybody just ignore TP2000's post about the park is just a secondary business? That much money is not much when you understand that the bulk is not intended for the park.

 

[wolf359]

This announcement is simply Universal trying to avoid looking completely idle while Disney is dropping over a billion dollars into ONE theme park.

But again, as many people have already said, I doubt we'll see more than a small fraction of the three billion make its way into the actual theme park. I'm thinking just the proposed studio upgrades alone will eat up half to two-thirds of that 3 billion. Most of the remaining money will probably go into Celebration, um, I mean Universal Neighborhood.

So who knows what the theme park will actually get, since judging on the wording it seems like they don't even have a real plan themselves. "Develop a replacement for King Kong?" Seriously? They don't even know what they're going to replace a ride that's been ripe for replacement for 20 years with yet?

And I seriously hope that CityWalk's upgrade includes adding a trolly, or you know it will be judged a total failure...

 

[RSoxNo1]

It seems that they'e classifying "scenes" in the Backlot Tour as attractions. For those of you that haven't been to Universal Hollywood, it is a true Backlot, that was recently used for filming parts of Pirates 4.

The backlot also includes scenes for King Kong, Jaws, Fast and the Furious and more. When they say they're adding new attractions - it seems like it would be replacing these "scenes" not a new attraction.

Now the shows that were mentioned can be replaced with attractions, and personally I'm excited about the Transformers attraction that isn't even part of this. For me, that park isn't anything special - but I may be in the minoriy there. I'd take the Florida counterpart(s) any day.

 

[Thrill]

I feel that 3 billion over the course of 20 years isn't all that much. I feel that after all the enhancements and new rides, Disney will easilly eclipse that amount in just their California Parks.

This. If Universal were to somehow open the $3 billion worth of enhancements tomorrow, Universal Studios Hollywood still probably wouldn't be as good as Disneyland Park anyway. Spread it out over 20 years, and it won't make a dent in Disneyland's attendance without a collapse in management. Additionally, this doesn't fix an issue that many of the previous posters mentioned: it's an hour or more one way to Universal from Disneyland.

 

[TP2000]

Did everybody just ignore TP2000's post about the park is just a secondary business? That much money is not much when you understand that the bulk is not intended for the park.

Apparently they did ignore it, and don't really know what they are talking about.

Few here even read the LA Times article that started the discussion, or have looked at Universal's own website detailing the project.

The only thing many here think they know is "3 Billion Dollars Being Spent On Super-Cool-Mega Theme Park Rides at Universal Studios". Which is wrong.

 

[TP2000]

This announcement is simply Universal trying to avoid looking completely idle while Disney is dropping over a billion dollars into ONE theme park...

So who knows what the theme park will actually get, since judging on the wording it seems like they don't even have a real plan themselves. "Develop a replacement for King Kong?" Seriously? They don't even know what they're going to replace a ride that's been ripe for replacement for 20 years with yet?

Actually, this announcement is Universal advancing a housing and industrial master plan for their sprawling property that they developed over 10 years ago, and that they fully admit will take decades to complete. The existing theme park is a minor element to the broader plan, designed to free up further government funds from CalTrans to widen the Hollywood Freeway and improve intersections around their property.

The King Kong mention just proves their website is at least 2 years old, since the King Kong ride-through attraction on the Glamor Trams, as well as several other major studio lot buildings, was destroyed in a big fire in June, 2008.

They rebuilt the destroyed sets and soundstages, including the King Kong attraction, in record time. The new facilities opened this past summer, including a brand new version of the King Kong attraction that uses 3-D digital technology for the ride-through show building. They had a schmoozy re-opening ceremony this summer with Governor Schwarzzeneger and Steven Spielberg and Universal bigwigs to christen the rebuilt studio lot, and then they all were loaded on a tram and went through the reopened King Kong portion of the tram tour to celebrate.

That Universal Studios website about this "3 Billion Dollar" project is not new. Univeral has been moving slowly through this big housing/industrial/commercial redevelopment project for years, and the big fire in '08 only set them back a tiny bit and cost them virtually nothing as they were fully insured.

 

[bryPOD]

That Universal Studios website about this "3 Billion Dollar" project is not new. Univeral has been moving slowly through this big housing/industrial/commercial redevelopment project for years, and the big fire in '08 only set them back a tiny bit and cost them virtually nothing as they were fully insured.

This FTW

 

[raven]

Did everybody just ignore TP2000's post about the park is just a secondary business? That much money is not much when you understand that the bulk is not intended for the park.

Sorry. The OP and name of the thread implies that the money is being spent in the Universal park to rival Disney parks (listed on a WDW fan site). Had the OP been more clear on the topic more people would understand.

 

[janoimagine]

Sorry. The OP and name of the thread implies that the money is being spent in the Universal park to rival Disney parks (listed on a WDW fan site). Had the OP been more clear on the topic more people would understand.

My bad ... your right. Perhaps I should have been a little more specific with the title ... it was my hopes to have people read the article (as you and TP have) and give realistic feedback, I had never heard of an organization tipping it's hand so far in advance about a project like this, I agree that a large portion of the cost is going into residential development, civil services like new freeways and local jobs, and refreshing the backlot for the current motion picture industry (which I agree needs it).

However ...

What I found it interresting was that they said they are turning an additional 400 acres into an 'environmentally sustainable theme park' and 35 acres of open space, a new hotel and a refurbished amphitheater. The new Universal complex will include expanded studio production facilities, new office space, shops and a renovated Universal CityWalk and a remodeled Universal Studios Hollywood theme park which will include 146,000 square feet of new attractions" at the park, including four new backlot attractions. Given the population of Los Angeles and that space is a premium in general in LA, I found the comittment to expanding there theme park significant.

To me it sounds like they are "loosely' trying to keep pace with Disney's expansion at DCA to remain competetive, and to an extent one up them by using the latest buzz word in there expansion 'Green'.

Will it impact Disneyland? I doubt it ... for all the congestion of the LA traffic, the 2 parks might as well be on opposite sides of the moon in terms of getting from one to the other in the same day, but I do like the fact that there is another company out there keeping the pressure on Disney. While it might not be a Ford and Chevy type competition, at least Universals announcement keeps it from being a David and Goliath type competition.

 

[flavious27]

I think that after the resounding success that Universal has found with the HP expansion, the company is once again discovering the kind of ROI that quality additions can bring to the bottom line.

It is very obvious that Universal Orlando is quickly researching how else they can expand. They have been surveying visitors left and right lately, much more than they have in the past. They are eyeing the rest of the Lost Continent real state, and while we all sort of knew that this part of the park would be the next area to be updated, it now seems like it may be getting fast-tracked. (I have no inside knowledge of this, I'm just speaking based on what I have observed as someone who visits their parks several times a month.)

It's a win for Universal, and it's a win for all of us guests. And it puts Disney back on the defensive, which unfortunately seems to be the only time when they truly try to innovate anymore.

It is far too early to look at the ROI for WWHP. It cost $200 million to make, WB and JK get a cut of ticket sales, there is the cost to staff and maintain the area.

Also, there is no more room left to expand IOA unless they take land away from Studios. If there was room to expand, they would have used it for WWHP.

 

[flavious27]

I found this interresting ... what, if any impact do you think this will have on Disney. I have never heard of a company revealing their hand so far in advance.

http://www.latimes.com/travel/deals/themeparks/la-trb-universal-studios-hollywood-20101119,0,4003353.story?track=rss

I don't think there will be much of an impact on disneyland. There is a bit of distance from the two resorts and most of this money will be on replacing new rides and other developments for the next 2 decades.

 

[ABigBrassBand]

but it definately explains what happened to Cindy Lou Who.

:ROFLOL:!

That Transformers ride looks a whole lot like the Spiderman ride, I know there were rumors a while back that they were going to convert the Orlando Spiderman ride to Transformers. It would seem logical to do that in Orlando. I agree I don't really see this directly competing with Disney, however I think from a theme park brand image point of view I think it's very apparent that Universal is positioning themselves as the real innovator in the theme park industry, and Disney seems to be making it easier for them to take the top spot. Disney is already behind in some ways and a few years can make a big difference.

It seems as if Disney has to step their game up, they have to make WDW seem worth going to for multiple demographics, as opposed to the current drive of the FLE. I know it might seem like I'm just nitpicking (because I really think Disney has the reigns here), but Universal thinks otherwise.

 

[trr1]

I don't think there will be much of an impact on disneyland. There is a bit of distance from the two resorts and most of this money will be on replacing new rides and other developments for the next 2 decades.

It seems as if Disney has to step their game up, they have to make WDW seem worth going to for multiple demographics, as opposed to the current drive of the FLE. I know it might seem like I'm just nitpicking (because I really think Disney has the reigns here), but Universal thinks otherwise.

the articl says "The $3 billion NBC Universal Evolution Plan lays out a proposed blueprint for the 391-acre Universal City property in the San Fernando Valley, including new movie studio production facilities, CityWalk retail space and a residential neighborhood."
it seems that only a small part of the 3 billion will be for the parks
here is the link to the plans http://nbcuniversalevolution.com/plan/

 

[flavious27]

the articl says "The $3 billion NBC Universal Evolution Plan lays out a proposed blueprint for the 391-acre Universal City property in the San Fernando Valley, including new movie studio production facilities, CityWalk retail space and a residential neighborhood."
it seems that only a small part of the 3 billion will be for the parks
here is the link to the plans http://nbcuniversalevolution.com/plan/

Is it any wonder that NBC/Universal is losing money by planning projects like this? 2900 unit development with foreclosures still high in Cali and the LA Area.