Why Disney and Universal are investing billions into their theme parks

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The Walt Disney Company

and Universal, two of the biggest names in theme parks, are both undertaking historic expansions to their experiences businesses.

Universal Orlando Resort in May opened the gates to Epic Universe, its fourth theme park at its flagship resort. Epic cost an estimated $7 billion to build, according to numbers provided by the University of Central Florida. Brian Roberts, Chairman and CEO of Universal parent company Comcast

, called it the “single-largest investment Comcast NBCUniversal has made in its theme park business”.