Universal Parks CEO Mark Woodbury Discusses Disney Abu Dhabi
Disney shocked the entertainment industry last April when Bob Iger announced that a new Disney Park was coming to Abu Dhabi.
Revealed just minutes before the company’s Q2 earnings were released, the Abu Dhabi park seemed to come out of left field, surprising fans and observers alike.
Photo: Disney
As it turns out, however, Disney had been exploring the idea of bringing a park to the Middle East for almost a decade. Abu Dhabi was eventually selected due to its location between Europe, Asia, and Africa.
A Whole New World
Unlike most Disney Parks, the new Abu Dhabi resort will not be owned and operated by Disney. Instead, Miral, an Abu Dhabi-based company specializing in the creation of immersive destinations and experiences, will provide the upfront capital to construct the resort and oversee its development and operation.
Photo: Disney
With the construction of Disney Abu Dhabi, the theme park landscape has changed forever.
Universal Parks CEO Mark Woodbury Discusses Abu Dhabi
During today’s Bank of America Media Conference, Universal Parks CEO Mark Woodbury discussed Disney’s Abu Dhabi plans. According to the executive, Universal has also considered a park in the Middle East, but decided to focus on other projects.
Photo: Universal
“I know their announcement is pretty fresh. The Middle East has been on a boon for a while. Yeah, it’s just a place that you look, investigate, and make decisions about where your priorities are. Our priorities right now are driving Epic to full throttle and to execute on UK and then our mid strategy, and at the same time, looking ahead for other places and opportunities,” Mark Woodbury said (via Boardwalk Times on X).
The Value of Competition
Discussing Universal’s relationship with Disney, Woodbury believes that competition is healthy.
Photo: Universal
“Our chief competitor, Disney, is a strong competitor. They’re going to be investing pretty heavily in the market, too. I think it’s a case of all ships rise with the tide. We’ll both drive audience to the marketplace and we’ll be able to take our share of it,” he said.
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Not correctly true. Of the international parks, Disney only owns Paris. All others are owned and managed by another entity. Disney gets a license fee (part of ticket sales and food and merchandise). So, this new middle east park agreement is nothing new.
Hey Joey, thanks for reading!
Disney only fully owns Paris. They have significant stakes in both Shanghai and Hong Kong as part of a joint venture. Additionally, both parks management is fully owned by a subsidiary that is fully owned by Disney (Hong Kong) and mostly owned by Disney (Shanghai). Of the international resorts, only Tokyo Disneyland has a structure in place similar to Abu Dhabi. It’s not unique but it is the first time in over 40 years that Disney has gone full licensing fee.